Commercial Buildings in Chiang Mai 2026 — Is It a Good Investment?

Commercial Buildings in Chiang Mai 2026 — Is It a Good Investment?

Commercial buildings, known locally as shophouses, are among the most consistently popular long-term investment assets in Chiang Mai. Their flexibility in use and income generation makes them attractive to a wide range of investors.

Types of Commercial Buildings in Chiang Mai

2-3 storey shophouse (traditional)
Average price: THB 2.5-6 million
Average rent: THB 15,000-40,000 per month
Gross Yield: 5-7% per year
Best for: Retail shops, restaurants, clinics, service businesses

4-5 storey commercial building
Average price: THB 5-15 million
Average rent: THB 30,000-80,000 per month
Gross Yield: 5-6% per year
Best for: Offices, clinics, SME businesses

Home Office
Average price: THB 3.5-8 million
Average rent: THB 20,000-50,000 per month
Gross Yield: 5-7% per year
Best for: Small businesses, startups, offices

Best Locations for Commercial Buildings in Chiang Mai

Nimman Road and surroundings
Highest rents: THB 40,000-120,000 per month
Tenants: Restaurants, cafes, boutiques, spas
Gross Yield: 5-6% per year

Huay Kaew Road / Suthep Road
Average rent: THB 25,000-70,000 per month
Tenants: Clinics, retail, offices
Gross Yield: 5-7% per year

Waroros / Chang Klan area
Average rent: THB 20,000-60,000 per month
Tenants: Local shops, services, tourism businesses
Gross Yield: 6-8% per year

Hang Dong / San Kamphaeng main roads
Average rent: THB 12,000-35,000 per month
Tenants: Community shops, local businesses
Gross Yield: 6-8% per year

Sample Net Yield Calculation

3-storey commercial building on Huay Kaew Road
Purchase price: THB 7,000,000
Monthly rent: THB 40,000
Annual gross income: THB 480,000
Less expenses and vacancy 15%: THB 72,000
Net annual income: THB 408,000
Net Yield: 5.8% per year

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