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  • Buying commercial property in Canada

Choose your location

Adapt your selection to the needs of your business

Choosing the right location for your commercial property is vital for your business. It must also be suited or adaptable to your specific type of business. Is your building for your business only or are you considering renting or leasing to other businesses? You may need to renovate, modify or seek local re-zoning to meet the needs of your business or your tenant.

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Consider environmental factors

Depending on your business type, you must consider the environmental regulations and restrictions to safely operate and mitigate any potential contamination. Therefore, a comprehensive assessment of the site may be necessary before purchasing a commercial property.

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Understand local taxes and infrastructure

Taxes vary between municipalities and some communities offer preferential rates hoping to attract businesses. Your commercial real estate agent should know what the tax rates will be, as well as the infrastructure and utilities that are available at the sites you're considering—including internet access, garbage pickup, roads, electricity, and natural gas.

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Type of building or property

The primary types of commercial real estate that we can help you invest in:

Multifamily properties

The multifamily category includes everything from a duplex up to large apartment building. While they can serve primarily as a residence, the general purpose for this type of property is for investment (owner-occupied or not).

Multi-use properties
Mixed-use properties are some combination of multi-family and retail. The most common form of mixed-use buildings are typically retail/restaurant properties with offices or residences sitting atop.

Light industrial building

Light Industrial properties are used for the manufacturing, assembly, or packaging of products and various types of materials, for example: printing, commercial laundry, vehicle repair, etc.

Office Building

A working environment for general business administrative or professional purposes such as doctors, lawyers, accountants, real estate, etc.

Your budget and financing

Getting approved for commercial real estate financing can be a complex process. Lenders will want to see high-quality financial statements and evidence that the profits you generate are being retained by your company. All of this will play a big role in determining whether you get the commercial real estate loan you want.

Prepare the documents you’ll need to show the bank. These include up-to-date financial statements, a solid business plan and details on the property you’re interested in.

When budgeting, it’s important to consider not just the purchase price, but also extra costs associated with the property. Businesses often overlook or underestimate extras such as due diligence costs, renovations, production downtime during the transition, legal fees, recurring operational expenses for the property etc. Be sure you prepare an effective budget for your commercial real estate purchase.

When discussing potential financing, strongly consider your loan-to-value, amortization period and bank’s flexibility with your circumstances as well as the rate offered.

More on WealthONE Commercial Mortgages

A row of empty retail stores

Buy a Business Property

If you’re looking to purchase a location for your business, whether it’s a small office building, a retail location, or a light industrial complex, find a mortgage solution customized to your specific business mortgage needs.

A condo building in downtown

Invest in real estate

When you invest in real estate in Canada, you may require flexible financing options, including a mortgage solution tailored to your specific property needs.

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