These days, doctors, surgeons and other health care professionals typically set up shop in one of four types of settings: in traditional office buildings, on hospital campuses, in medical office buildings or in retail spaces or shopping centers. Each medical office property type offers benefits and drawbacks, so it’s important to understand what they are so you can make a smart decision about where to put down roots.
Just what type of health care real estate property might best fit the needs of your practice? Here’s a closer look at today’s common medical real estate properties.
- Traditional Office Buildings
- Hospital Campuses
- Medical Office Buildings
- Retail or Shopping Center Space
Traditional Office Buildings
When you set up your medical practice in a traditional office space, you typically gain access to certain amenities, such as restrooms or conference rooms. Also, while this is not the case in all instances, traditional office spaces are often more affordable than those available on hospital campuses, in medical office buildings or in retail or shopping centers. Many doctors and other health care providers also opt for traditional office space because they like the light, window lines and aesthetics traditional office buildings offer.
Hospital Campuses
Many practitioners who buy medical real estate on hospital campuses do so because they want to get referrals from the hospital itself. If you opt for this type of medical property, your patients may, too, benefit from having easy access to the amenities and opportunities that come with having close proximity to a hospital.
Medical Office Buildings
Some seeking commercial real estate for a health care practice choose to buy medical office building property, which is similar to real estate found on a hospital campus, aside from the obvious lack of a hospital. Medical office buildings, like those found on hospital campuses, also offer opportunities for referrals from other onsite health care providers.
Retail or Shopping Center Space
Another option is to buy a medical office in an existing retail space or shopping center. Benefits of doing so might include ample parking for patients and high visibility, but the prices of these spaces sometimes reflect these perks.
Most health care professionals choose one of these four options when seeking medical real estate. For help figuring out what type might best suit your needs, contact Plaza Companies at 623.972.1184 or email info@plazaco.com.