How Corporate Real Estate Strategies Are Enhanced Through Custom Mapping Tools
Revolutionizing Real Estate with Custom Mapping Software
Custom mapping software has become indispensable for real estate professionals seeking precision, efficiency, and strategic decision-making. Integrating components like aerial mapping software has elevated real estate property analysis to levels never seen before. High-resolution aerial imagery provides a bird's eye view of the whole neighborhood of interest. This helps evaluate the property itself and understand the surrounding landscape and infrastructure.
Real estate mapping tools alleviate workflow
Custom mapping tools alleviate workflow for real estate professionals. Intuitive features and interfaces ensure that even users without a technical background can take advantage of mapping technology.
Most commercial real estate ventures require customized solutions. Customizable layers within mapping tools address this need. Users can overlay zoning information, data points, and development plans, creating a personalized and comprehensive real estate mapping software experience.
Powerful data visualization aids decision-making
When you have access to the right data, the site selection process becomes much easier. The mapping solution Maptive's characteristic reliability and integration with Google location data make it possible to create powerful data visualizations, which aids decision-making considerably.
Legacy CRM systems come with limited mapping solutions. It takes too much time to process columns of data in a spreadsheet and try to plot it using their capabilities. Understandably, corporate real estate agents don't have that long.
Users can instantly plot location-based data on an interactive map by entering or uploading it into the software. They can then compare it to data from competing locations in the area using Maptive's connection to Google Places.
It's also possible to customize maps by filtering what data appears, adding demographics, using a drawing tool to modify Google Maps, and dividing maps into different zones. Real estate agents and investors can create masterpieces: beautiful maps ready to be presented to clients looking for their dream homes.
Amenities mapping enhances the appeal of a real estate property
The amenities map generator is a standout aspect of advanced customer mapping tools. It lets users see parks, schools, public transport stops, subway stations, malls, and other amenities in the area, facilitating real estate marketing efforts and playing a key role in attracting investors or tenants. An analysis of 19 public housing estates with 8,600 transactions revealed that being close to a shopping center tends to command a premium.
A regression analysis of Pennypack Park in Philadelphia indicated that it accounted for 33% of the land value of properties located 40 feet away from the park or less. The authors of this study concluded that the park generated a net increase in real estate property value of $3.3 million, and that was back in 1974. 50 years later, this value would correspond to around $26.4 million, adjusted for inflation.
Corporate real estate professionals are even more confident about the appeal of amenities in 2024. The concept of amenities has expanded to include wellness centers, meeting spaces, art installations, and more. Rental property owners are investing huge amounts in amenities to attract tenants. Fisher Bros. spent $125 million on a tenant lounge, new art installations, hybrid meeting spaces, a wellness center, etc. Nuveen Real Estate invested $40 million in a wellness center, a gym, a new park, conference halls, and a café work lounge. Aby Rosen's town hall space, rock climbing wall, and basketball court cost $25 million.
Tenant demand for commercial real estate with diverse amenities will increase by 12% by 2025 compared to properties without special amenities.
Recap
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High-resolution aerial imagery lets you see the whole neighborhood
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Users of custom mapping tools overlay zoning information, development plans
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They plot location-based data on an interactive map right after uploading
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They customize maps by filtering what data appears, adding demographics, etc.
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Amenities map generators show parks, schools, malls in the area.
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