What makes or breaks your investment in purchasing or leasing a medical office? A number of things can have a direct impact on your bottom line. It’s why so much time and consideration goes into investing in a specific property to provide medical services. Considerations include the unique aspects of having enough space for large equipment, a reliable and convenient location, set up and upkeep costs, and much more. When considering the vast amount of options available, it may feel overwhelming.
Hopefully, this article will help you narrow your focus and lead you to the perfect medical office location.
Keys to Identifying the Best Medical Office Location
Location for a suitable property is vital, but even more so when you are providing medical services to your community. A bad medical office location will harm your business or force you to relocate.
Medical office locations that thrive have these characteristics in common:
- Close to other businesses and services your clientele may be seeking, including and especially hospitals and medical campuses
- Locations that cater to the type of patients you want to serve
- High traffic locations, distinguished visibility while driving, walking, or taking public transportation
- Adequate parking lot space for staff and patients
Other aspects you should consider:
Exterior design – The curb appeal of a medical office should not be overlooked. The exterior space not only needs clear and visible signage, but also clean landscaping and modern design elements. Your office should communicate warmth, welcoming, and competency in all areas of your location and design. Once you’ve found the best spot on the map with high traffic, you should always capitalize on this opportunity with the greatest curb appeal in the area.
You don’t want anyone lost or second-guessing their choice to make an appointment with your office due to external factors.
Get clear with your demographics – As stated earlier, you should be clear with the ideal demographic for the medical services you offer the community. For example, if you perform plastic surgery or run a medspa, you wouldn’t put your office in a region of demographics that are unlikely to desire or afford your services.
You must choose a zip code and street location that best suits the clientele you’re targeting through research and analysis of similar medical offices you’ll be competing with.
Know your competition – Speaking of competitors, before choosing a medical office location, you need to understand what other offices your potential clients will be considering. Where are they located? Are they popular? If so, then why?
Why are patients seeking out these medical providers and what would you offer that’s different, or how would your office location convince people to set up an appointment with you instead of your competitors? You don’t want to situate yourself in an area with similar medical offices offering the same type of services and have patients mistakenly go elsewhere as a result.
There are many factors to consider when investing in your own medical office space. However, with enough research and patience, you can find and cultivate the perfect fit. One that is easily visible within a high-traffic area, with plenty of parking and interior space for all your equipment and staff. Getting the combination right is worth the time and effort you put into this endeavor.
Plaza Companies is the Premier Choice of Commercial Real Estate
Plaza Companies is a full-service real estate firm specializing in leasing, management, construction, and development of some of the most innovative commercial and medical real estate projects in Arizona. Our firm specializes in staying connected and conscientious of all emerging trends and laws.
Contact us today to learn more about leasing the right space or anything else we offer!