Looking for Retail Space? Your Ultimate Checklist Before Signing a Lease

Finding the right retail space is a pivotal moment for any business. Whether you’re launching your first storefront or expanding to a new market, there’s a lot to get right, and getting it wrong can be costly. This guide walks you through what to look for, what to avoid, and how a commercial real estate (CRE) broker can help you make a smart, strategic decision.

Location Is Everything

Start with where, not what. You want a spot with the right foot traffic, demographics, and accessibility. Are you near other destination businesses? Is parking available? Does the zoning allow your specific type of retail?

If you’re not sure how to evaluate these, this step-by-step guide to finding retail space lays out how brokers approach site selection using data and local knowledge.

Clarify Your Needs Before Touring

Before you look at listings, define how much space you need and what features are essential. This includes not just square footage, but ceiling height, storage, HVAC capacity, and restroom access. Also consider layout: open plan? fitting rooms? point-of-sale placement?

The Retail Tenant’s Guide to Site Selection offers a helpful framework for understanding how brokers break down these needs.

Understand What You’re Really Paying

The rent you see on a flyer isn’t the whole story. Many commercial leases are NNN (triple net), meaning you’ll also pay a share of property taxes, insurance, and common area maintenance (CAM). That can add significantly to your monthly cost.

Before you sign anything, read this list of key questions to ask before signing a commercial lease from SCORE. It covers common blind spots like maintenance obligations, renewal terms, and sublease restrictions.

Visibility, Signage, and Traffic Flow

Your space won’t succeed if no one knows you’re there. Make sure the storefront is visible from the street, your signage is allowed under local ordinances, and there's good pedestrian or vehicular flow. Don’t assume, it should be in writing as part of the lease.

Permitting and Compliance

Depending on what you sell, you may need permits from health departments, the fire marshal, or alcohol regulators. Local rules vary widely. Be especially cautious if you’re renovating or changing the use of a space.

The NYC Small Business Services commercial lease guide is one of the best overviews of this process, even if you're not in New York, the principles apply.

Use a Broker And Use the Right Kind

A tenant representation broker works for you, not the landlord. They’ll help you:

• Identify properties (on and off market)

• Negotiate favorable lease terms

• Avoid hidden pitfalls

• Save time and money

Their fee is typically paid by the landlord, which means expert help costs you nothing out of pocket. If you're not already working with one, BrokerMatch.io can connect you with top retail brokers in your area, fast and free.

Final Thoughts

Finding the right retail space is part data, part instinct, but it starts with being informed. Use your broker’s expertise, ask the right questions, and don’t rush into a lease. A few hours of due diligence now could save you months of headaches later.