Doctors, surgeons, and other health care professionals typically look for four sorts of buildings: traditional office buildings, hospital campuses, medical office buildings, or retail spaces or shopping centers. Each Medical Office Property type offers benefits and disadvantages, so it’s important to know their capabilities to make a sensible decision about where to place down roots.
Just what sort of health care land property might best fit the requirements of your practice? Here’s a better check out today’s common medical land properties.
- Traditional Office Buildings
- Hospital Campuses
- Medical Office Buildings
- Retail or Shopping Mall Space
Types of Commercial Real Estate Properties
Traditional Office Buildings
When you found out about your practice during a traditional office space, you sometimes gain access to specific amenities, like restrooms or conference rooms. While this is often not the case altogether, conventional office spaces are usually cheaper than those available on hospital campuses, medical office buildings, or retail or shopping centers. Many doctors and other health care providers also choose traditional office space because they just like the light, window lines, and aesthetics traditional office buildings offer.
Hospital Campuses
Many practitioners who buy medical land on hospital campuses do so because they need to urge referrals from the hospital itself. If you decide on this sort of medical property, your patients may, too, enjoy having quick access to the amenities and opportunities that accompany having proximity to a hospital.
Medical Office Buildings
Some seeking commercial land for a health care practice prefer to buy medical office block property, which is analogous to ground found on a hospital campus, apart from the apparent lack of a hospital. Like those found on hospital campuses, Medical Office Buildings also offer opportunities for referrals from other onsite health care providers.
Retail or Shopping Mall Space
Another option is to shop for a medical office in an existing retail space or shopping mall. Benefits of doing so might include ample parking for patients and high visibility, but those spaces’ costs sometimes reflect these perks. Retail Medical Facilities.
Drugstores, Clinics, and CRE healthcare land have shifted more and more from the hospital setting over the years. More retail giants have opened healthcare services under their brand names. Walmart, Walgreens, and CVS are a couple of the notable companies to supply new or unique health offerings. But these sorts of medical facilities aren’t the sole representations of retail healthcare properties.
Conclusion
Medical groups sometimes purchase existing retail spaces. Shopping plazas or large malls offer pedestrian traffic and more visibility to new patients. In 2019, one source suggested that ambulatory services were the foremost likely medical tenant to settle on retail spaces. Other retail space-turned medical buildings include physician offices, dentist offices, and outpatient care centers.
Most health care professionals choose one of these four options when seeking medical land.
