5 Renovation Tips for Older Commercial Buildings in Lake Havasu

The Lake Havasu commercial real estate (CRE) market has a lot to offer. It’s not just the shiny new developments. Many older commercial buildings in Lake Havasu also present renovation opportunities.

As an investor, there are two ways to enter and succeed in Lake Havasu’s CRE market. You can buy one of these properties and increase its value. If you already own one, renovations could take the property to the next level. Regardless of your strategy, you must consider several factors to increase its value. You must also look into how you can improve efficiency and attract better tenants.

So, breathe life into your older commercial building in Lake Havasu. Follow these five tips for your renovation project.

1. Create a Complete Picture

Before you start on your renovations, you must have a thorough understanding of your goals and your property’s needs. Consider why you’re renovating the property.

Is it an adaptive reuse project? Are you bringing an old building up to code? Maybe it’s an interior remodel. Knowing what you want from your project can help guide you in every decision you make.

Once you understand the why, it is a good idea to conduct a full assessment of your property’s condition. Work with a professional inspector to evaluate the structural integrity, electrical and HVAC systems, plumbing, and accessibility features. Do not forget to also look into the landscaping, parking areas, and signage.

With a complete picture of what you want and what the building needs, you can begin planning the finer details.

2. Research Local Regulations and Permits

When planning to renovate in Lake Havasu City, it is essential to fully understand local building codes, zoning laws, and permit requirements fully. If your renovation changes the property’s use, layout, or function, ensure that it complies with zoning and land-use regulations. It is imperative that you always double-check before starting on anything to avoid problems in the future.

Also, keep in mind that Lake Havasu’s environmental regulations can be complex. The permitting process and times may vary depending on your project’s scope and location. So, it is also important to understand them and to consult with a local expert who knows the system.

Doing this is especially important for commercial buildings in Lake Havasu, as compliance issues can cause major delays when overlooked.

3. Implement Sustainable Upgrades

Renovations offer a great opportunity to make the building more efficient and sustainable. Upgrading the insulation and sealing air leaks can make cooling more efficient. High-efficiency windows, LED lighting, and reflective roofing materials can significantly reduce energy costs.

You can take advantage of Lake Havasu’s abundant sunshine by investing in solar panels. Arizona currently offers tax deductions and other benefits for its installation. You might also want to explore various water-saving features, such as low-flow plumbing fixtures, to appeal to tenants and law regulators.

You need these sustainable upgrades to stand out when you modernize older commercial buildings in Lake Havasu. These features are also excellent at keeping your operating costs at a minimum.

4. Avoid Summer Construction

If you were planning on scheduling your renovation project in the summer, know that Lake Havasu summers are extremely hot. Daytime temperatures often exceed 110°F, potentially impacting any construction’s productivity. Aside from slowing progress, it can also strain the workers, compromising their safety.

This extreme heat can also affect the performance of materials, such as adhesives and concrete. Material prices may also be higher at this time, as summer is the peak construction season for most of the rest of the country. As a property owner, it is best to avoid this season in scheduling your renovation project.

You must also stay away from renovating or constructing during the monsoon season, which typically runs from late July to early September. The excessive rain during this season can cause supply disruptions and imminent delays.

In Lake Havasu, the best time for your renovation project is from October to April. Temperatures aren’t as high, and the days are mostly clear and comfortable. However, keep in mind that tourism also peaks during these months. So, plan for potential impacts on tenant operations and access.

5. Modernize for Tenant Appeal

If your goal is to lease your property after renovations, then design with your future tenants in mind. Modern features like flexible floor plans, upgraded common areas, high-speed internet infrastructure, and contemporary finishes can attract more quality occupants.

Commercial buildings in Lake Havasu that offer modern amenities and a professional aesthetic stand out from older, more outdated spaces. You don’t have to go big. Even small touches, such as fresh paint, updated lighting, or improved wayfinding signage, can elevate your property’s look and feel. These improvements can make your building easier to market and lease.

Upgrade Your Commercial Building in Lake Havasu Now

Older commercial buildings in Lake Havasu have the potential to become so much more. You just need to plan smarter. With the right approach, you can transform your outdated property into a modern and profitable investment.

So, are you ready to take the next step in Lake Havasu’s CRE market? Randy Shuffler can help you. A local CCIM with deep knowledge of the local market, Randy can find the perfect property for you or guide you on your renovation strategy. Reach out to Shuffler Commercial Realty now to schedule a consultation.