Defining a strong location is crucial first step, however, depending on the type of practice you’re establishing, there are several things to keep in mind when choosing the right space:

  • Confirmation of Local Ordinances and Zoning: Municipalities are becoming stricter when it comes to the types of medical uses that can be opened in certain areas, and zoning, occupancy and parking restrictions are commonplace. 
  • Traffic (Vehicle and Foot): Measuring and analyzing traffic, the number of people passing by a business on a given day, is not a simple process and concluding which space will attract more patients is always relative and several factors must be considered. 
  • Proximity to Destination Locations, Referral Sources and Competitors: Closeness in proximity to other destination locations such schools or grocery stores and referral sources such as primary care physicians as well as distance from competitors should be highly considered. 
  • Visibility and Accessibility: The location of the space should be easily visible and offer convenient access for patient’s transportation. This includes vehicular access, accommodative parking, proximity to mass transit and ADA compliance. 
  • Size, Infrastructure and Cost Feasibility: Ideally the size of the space should comfortably fit the desired content of the office as well as accommodate the opportunity for future growth and the infrastructure should adequately support the construction and equipment of the office. With help deciding on the size of the office a space programming worksheet is often helpful. Careful cost / benefit analysis should be considered when analyzing and deciding on the most effective balance of these components. 

Cost Benefit Analysis

We provide clients with detailed information on costs of real estate ownership and leasing as well as potential construction costs and space productivity between various sites being considered to help its clients make informed decisions 

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