Key takeaways
- A tenant who has occupied the premises for the qualifying period has renewal rights, and recovering the space generally requires notice well in advance and in the correct form.
- Buyer closing costs run about 2 percent: notary 0.27 percent, registry 0.67 percent, beneficencia 1 percent, plus your lawyer's fee, which you should not economise on here.
- The quoted figures are residential: long-term rentals have yielded 5 to 9 percent gross a year, short-term 8 to 15 percent gross.
- In Guatapé and El Peñol a lot starts at about US$124,000 with a typical asking price near US$419,000, and a finca at about US$166,000 against a typical US$446,000.
- Closing takes 30 to 45 days once the deal is agreed.
A local commercial property is bought like any other title in Colombia: you verify the certificate of tradition and freedom, confirm the municipal land use, then close in 30 to 45 days. The difference is that a commercial unit's value lives in its lease and its permitted use, not its finishes, so verify the tenant contract and the POT classification before you agree a price.
Checklist · Before you sign a promesa
The 12 documents I check on every deal
Tick them off as you collect them. Saved on this device.
Superintendencia de Notariado y Registro, online; valid 30 days
The notaría where it was signed; ask for a certified copy
The municipality's tesorería or hacienda office
The building's or gated community's administración
From the seller; the RUT downloads from the DIAN site
Granted at a notaría, or at a consulate if the seller is abroad
Printed on the predial bill, or from the municipal catastro
In the deed and on the cadastral record
Latest paid bills from EPM or the local operator
Declared before the notary in the deed itself
Drafted by your lawyer or agent; never sign the seller's version unread
Curaduría urbana or the municipal planning office
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Where each document comes from
- Certificado de tradición y libertad: Superintendencia de Notariado y Registro, online; valid 30 days
- Prior deed: The notaría where it was signed; ask for a certified copy
- Property-tax good standing: The municipality's tesorería or hacienda office
- HOA good standing, if applicable: The building's or gated community's administración
- Seller's ID / RUT: From the seller; the RUT downloads from the DIAN site
- Power of attorney, if the seller is represented: Granted at a notaría, or at a consulate if the seller is abroad
- Cadastral appraisal: Printed on the predial bill, or from the municipal catastro
- Survey and boundaries: In the deed and on the cadastral record
- Utilities up to date: Latest paid bills from EPM or the local operator
- Family-home protection certificate: Declared before the notary in the deed itself
- Promesa de compraventa draft: Drafted by your lawyer or agent; never sign the seller's version unread
- Building permit, if applicable: Curaduría urbana or the municipal planning office
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What do I verify on a commercial unit that I would not check on an apartment?
- The certificate of tradition and freedom. Requested with the registry number; shows the registered owner, mortgages, liens and encumbrances. Watch for lender encumbrances, since owner-occupied businesses often finance with the unit as collateral.
- The land use classification. The municipal territorial plan determines whether an address permits commercial activity at all, which categories, and at what intensity. A unit operating as a restaurant is not proof one is permitted; many operate on tolerance.
- The municipal use certificate for the specific activity. Ask for it in the name of the activity, not the building.
- The horizontal property regulations. Internal rules can forbid what the POT permits: no food service, restricted hours, no façade signage. They bind you even when the municipality does not.
- The lease itself. A commercial lease creates tenant rights that survive a change of owner. Read the term, renewal clause, escalation formula, guarantee, and who pays structural repairs and administration fees.
Does the tenant have to leave when I buy the building?
No. A tenant who has occupied the premises for the qualifying period has renewal rights, and recovering the space generally requires notice well in advance and in the correct form. To occupy it yourself, buy it vacant or mark the lease end date with your lawyer. For income, the tenant with a clean payment history is the asset: ask for proof of payment for the last twelve months and confirm administration fees are current, since unpaid administration attaches to the unit.
What are the real costs of buying commercial property in Medellín?
Buyer closing costs run about 2 percent: notary 0.27 percent, registry 0.67 percent, beneficencia 1 percent, plus your lawyer's fee, which you should not economise on here. Annual property tax runs from 0.3 to 1.2 percent of the cadastral value; commercial classifications typically sit toward the upper end, so ask for the current predial statement. On a sale, capital gains are taxed at 15 percent if held two years or more. Add administration fees, insurance and the gaps between tenants.
What returns do commercial units actually produce here?
The quoted figures are residential: long-term rentals have yielded 5 to 9 percent gross a year, short-term 8 to 15 percent gross. Commercial leases have longer terms and different escalation, so treat those bands as a reference, not a promise. Appreciation has historically run 7 to 8 percent a year, history rather than forecast. A commercial property is far more sensitive to its street than an apartment: one block of difference in foot traffic or access changes the rent, and the rent drives the price.
Should I look at Oriente instead of Medellín for commercial?
Medellín offers depth of demand and more comparables. Oriente Antioqueño is a smaller, tourism-weighted market where the right corner in Guatapé or El Peñol performs and the wrong one sits empty out of season. In Guatapé and El Peñol a lot starts at about US$124,000 with a typical asking price near US$419,000, and a finca at about US$166,000 against a typical US$446,000. Across Antioquia a lot starts at about US$114,000, typically near US$257,000. Land for a future commercial build is only worth the price if the territorial plan allows the use. The Devimed concession reverts on July 31, 2026, with the financing trust expected in 2027 and handover to Invías in 2028, so major works would not begin before late 2027.
What does the timeline look like from offer to keys?
Closing takes 30 to 45 days once the deal is agreed. Front-load the work: certificate, predial and administration statements, the lease and twelve months of rent receipts first; then land use verification, horizontal property regulations and your lawyer's review of the lease; then the promesa de compraventa, correctly registered funds and a notary appointment; finally the escritura and registration. If any document is "being requested", do not sign the promesa. For the wider picture, see the full guide.
How we knowFigures as of October 13, 2026. Prices: active listings we verified ourselves; USD rate: TRM 3,194.44 COP per US$1, valid October 10, 2026 (Banco de la República, via datos.gov.co).
Frequently asked questions
Can I evict a commercial tenant after buying the property in Colombia?
Not automatically. The tenant's renewal rights survive a change of ownership, and recovery requires notice in the correct form. Read the lease end date with your lawyer before signing the promesa de compraventa.
How do I check that a commercial activity is legally allowed at a Medellín address?
Request the municipal use certificate in the name of the specific activity. A unit currently operating as a shop is not proof the use is authorised.
What are the closing costs on a commercial property purchase in Colombia?
About 2 percent: notary 0.27 percent, registry 0.67 percent and beneficencia 1 percent, plus your lawyer. Annual property tax runs from 0.3 to 1.2 percent of the cadastral value.
How long does it take to close on commercial property in Medellín?
30 to 45 days once the deal is agreed.
What tax do I pay when I sell a commercial property in Colombia?
Capital gains are taxed at 15 percent when the property was held two years or more.
