Questions to Ask When Viewing a Commercial Property: A Practical Guide from CIP Texas

When you’re standing inside a potential commercial property—whether it’s an office, industrial facility, retail space, or development site—the questions you ask on that tour can make or break the deal.

At CIP Texas, our team has been part of Texas’ commercial and industrial growth for decades, advising buyers, tenants, landlords, and investors on space decisions across Central Texas and beyond. We regularly walk clients through property tours, helping them spot opportunities, risks, and hidden costs before they commit.

This guide walks you through the most important questions to ask when viewing a commercial property, organized by topic so you can use it as a checklist on your next tour.

Quick Summary Before You Tour…

Question: What are the most important questions to ask when viewing a commercial property?

Answer: Focus on five pillars:

1. Location & market fit – Is this the right trade area and zoning for your use and growth plan?
2. Building condition & systems – Are there near-term capital expenses hiding in the roof, HVAC, or electrical?
3. Layout & operations – Can the space actually support your workflow, parking needs, and employee/customer experience?
4. Financial structure – How do rent, NNNs, taxes, and TI costs affect your total occupancy cost over time?
5. Risk, compliance & future flexibility – Are zoning, environmental, and lease terms aligned with your long-term strategy?

Let’s break those down into clear, tour-ready questions.

1. Big-Picture Questions to Ask Before (or Early in) the Tour

Before you fall in love with the lobby or the warehouse clear height, make sure the fundamentals check out.

Key questions:

How does this location perform for my use?

• What is the typical customer base, labor pool, or traffic pattern in this submarket?
• How does this area compare to other Texas markets like Austin, DFW, San Antonio, or Houston for my type of operation?

Is the zoning appropriate—and flexible enough—for my business?

• What is the current zoning designation?
• Are my intended uses explicitly allowed, or would I need a special use permit or variance?
• Are there restrictions on hours, noise, or truck traffic that could limit operations?

What’s the long-term plan for the surrounding area?

• Are there planned infrastructure projects, new developments, or roadway changes that could impact access or visibility?
• Is the area trending toward more industrial, office, retail, or mixed-use?

How does this option compare to other properties you’ve shown?

• Ask your broker for an honest comparison on pricing, quality, and risk.
• Have they seen issues with appraisal, lease-up, or exit values for similar assets?

CIP perspective: Our team tracks submarkets across Central Texas on a daily basis—industrial parks, office corridors, retail nodes, and emerging land plays—so we can benchmark any property you tour against comparable options in Austin and surrounding markets.

2. Building Condition & Systems: “What Will I Have to Fix or Replace?”

One of the most important sets of questions to ask when viewing a commercial property involves the building itself. Deferred maintenance can quickly erase “good” pricing.

Age and major capital items

• How old are the roof, HVAC units, and main electrical panels?
• When were they last replaced or significantly repaired?
• Are there any active leaks, hot/cold spots, or electrical capacity issues?

Structural integrity & envelope

• Are there visible cracks in walls, slab, or parking areas?
• Any signs of water intrusion, settlement, or previous structural repairs?
• For industrial: What is the clear height, column spacing, and floor load rating?

Building systems

• Does the building have sprinklers, fire alarms, and proper life-safety systems?
• How is the building currently heated/cooled (package units, rooftop units, split systems, evaporative)?
• Is there enough power for your equipment today—and for growth?

Code, accessibility & compliance

• Does the property comply with current ADA, fire, and building codes for its use?
• Are there any open code violations or outstanding permits?

Environmental & site conditions

• Has there been a recent Phase I or Phase II Environmental Site Assessment?
• Is the property in a floodplain or an area with known environmental concerns?
• Any history of underground storage tanks, dry cleaner operations, or other risk uses?

Tip: On older buildings or sites with a complicated history, CIP often recommends bringing in third-party inspectors and environmental consultants early in the process. It’s usually far cheaper than discovering a major issue during or after closing.

3. Layout, Operations & Employee Experience

Even if the building is in good condition, the layout has to work for your business.

Operational flow

Ask questions like:

Can we move people, products, and vehicles efficiently here?

• Where will employees enter? Customers? Vendors?
• Are loading docks or grade-level doors in the right place?
• Is there enough truck circulation and turning radius?

Does the floor plan support our operations?

• For office: Is there the right mix of open space vs. private offices, conference rooms, and collaboration zones?
• For industrial: Is the warehouse layout efficient for racking, equipment, and staging areas?
• For retail: Is the storefront visible, with logical customer flow from entry to checkout?

Parking, access & visibility

Employee and customer experience

• What amenities are nearby—restaurants, banking, childcare, fitness, etc.—that matter to your team or customers?
• Is the area perceived as safe and convenient at night or early mornings?
• Is there room to improve the facade, landscaping, or common areas to enhance experience and branding?

4. Financial Questions to Ask When Viewing a Commercial Property

Two spaces with the same base rent can have very different total occupancy costs. This is where detailed financial questions matter.

For tenants (leasing)

What are the estimated NNNs / operating expenses?

• What were NNNs or operating expenses (taxes, insurance, CAM) over the last 3 years?
• Have there been recent spikes from property tax reassessments—a key factor in Texas?

Tenant improvement (TI) and build-out

• What TI allowance is the landlord offering?
• Who pays for code-required upgrades (ADA, sprinklers, egress changes)?
• What is the expected timeline and who manages construction?

Future escalations & options

• How do rent escalations work—fixed bumps, CPI, or market resets?
• Are there renewal options, expansion rights, or early termination options?

For buyers (acquisitions)

Ask:

What is the in-place and pro forma NOI?

• How much income is the property generating today, and what’s realistic post-stabilization?
• How do current rents compare to market in this submarket?

How does this deal compare from a cap rate and IRR standpoint?

• How does the projected cap rate compare to similar assets CIP is seeing across Texas markets?

CIP perspective: Our Investment Sales and Tenant/Corporate Services teams routinely model total occupancy cost over the full term—not just the first year—so clients can compare buildings apples-to-apples before they sign a lease or purchase agreement.

5. Legal, Zoning & Risk Questions

A property can look perfect on tour but fail at the legal/entitlement level. Don’t skip these questions:

For industrial or “mission-critical” users (data centers, manufacturing, logistics, etc.), also ask:

6. Questions About Future Flexibility & Exit Strategy

Whether you’re a tenant or an owner, your needs will evolve. Use the tour to understand how the property can adapt.

Ask:

At CIP, we don’t just look at the initial fit; we look at your long-term plan—growth, consolidation, or eventual exit—and help you choose assets that align with that trajectory.

7. How to Use This Checklist on Your Next Property Tour

Here’s a simple way to apply these questions to ask when viewing a commercial property:

During the tour:

• Use the categories above (location, condition, operations, financials, risk) as a note-taking framework.
• Take photos and short videos to capture details you’ll compare later.

After the tour:

• Review your notes with your broker.
• Have them benchmark the property against others in the market, stress-test the numbers, and outline any due diligence items.

Partner with CIP Texas on Your Next Commercial Property Tour

CIP Texas is a full-service commercial real estate firm based in Austin, serving investors, owners, tenants, and developers across Texas with Investment Sales, Land Advisory, Project Leasing, Tenant/Corporate Services, Asset Management, and Expert Consulting.

We’ll help you ask the right questions when viewing a commercial property—so you can move forward with confidence.

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