Charlestown Retail Space - For Rent & Sale

With so many exciting things happening in Boston's retail and real estate markets, it should come as no surprise that so many people are interested in leasing or buying commercial and retail properties in neighborhoods around the city. If you've set your sights on Charlestown for your business, you're in luck. At any given moment, there are lots of viable options. The question, though, is which ones will suit your business? This is one decision you shouldn't make lightly, but the good news is that Boston City Properties offers free listings for prime retail space in and around Charlestown, allowing you to zero in on options that suit your budget and needs.

Click Here to Search

Retail Space

About Retail Space in Charlestown

There are lots of advantages to opening a business in Charlestown. The area is somewhat more affordable than many other Boston neighborhoods, so if price constraints are an issue, looking for retail space in Charlestown is a smart move. The neighborhood may be the oldest in the city, but it's benefiting enormously from the flourishing retail market that currently abounds throughout the area. Still, searching for retail properties can be overwhelming -- especially for someone who rarely if ever has to do so. Thankfully, the experts at Boston City Properties are here to give you a hand, helping you sort through things like modified gross leases, confusing commercial real estate terms and more.

Locate Prime Charlestown Retail Space with Boston City Properties

Boston City Properties is pleased to offer free, informative listings for retail and commercial space all around Charlestown. With that in mind, your first step should be to sign up to gain access to those listings. By doing so, you'll gain insider knowledge that will help considerably during the decision making process. You can also confer with our retail space lending and leasing experts to ensure that you make the right choice for your business. Our Charlestown retail space listings are active now, so get started right away.

For accurate, up-to-the-second information regarding commercial real estate in this Boston neighborhood, trust the experts at Boston City Properties. If you own a business like a shop, store or restaurant and are looking for properties to buy or lease in this part of the city, it’s important to realize that this local submarket is very fast-paced and extremely competitive. A lot goes into finding commercial real estate under ideal circumstances, and finding something suitable in this on-fire market is especially challenging. Connect with us to make your endeavor as smooth and easy as possible.

Why should you sign up with Boston City Properties? For one thing, we maintain one of the largest and most comprehensive online databases of MA real estate listings. Largely populated by the MLS and other reputable sources, it is updated around the clock to ensure the utmost accuracy. You can sign up for free, immediate access now by simply completing and submitting the easy signup form. In no time, your search will be kicked into overdrive.

While it’s easy to assume that our resources are focused mostly on residential real estate, the truth is that our listings and other resources cover all aspects of Boston and MA real estate. You can search our listings for commercial properties that are for sale or for lease in this charming Boston neighborhood quickly and easily. Our powerful search tool lets you zero in on suitable options in a flash. The help doesn’t end there, though; our site is loaded with articles and other resources, and we can refer you to local commercial real estate agents whenever you’re ready.

Market Overview

Before searching for properties that are for lease or for sale for your shop or other business, it helps to have a basic understanding of prevailing market trends for this Boston neighborhood. Situated as it is across the Charles River from downtown Boston, it can be a suitable alternative for businesses that would like to be located downtown but that simply can’t afford current prices.

Some current trends to be aware of when it comes to this commercial real estate submarket include:

• Vacancy rates – Like many parts of Boston, this neighborhood has experienced a decline in commercial real estate vacancy rates over the last few years. In the last quarter of 2015, the vacancy rate for the city stood at 8.9 percent. A year later, it had dropped to 7.5 percent. This trend is expected to continue until demand decreases, which is unlikely, or until new construction catches up with demand.
• Absorption rates – Another way to gauge the health of any local commercial real estate market is by understanding how net absorption is going for available space. When construction doesn’t keep up with demand, net absorption occurs. In 2016, the city of Boston absorbed more than 1.2 million square feet of commercial real estate. The current construction boom is expected to ease things up a little in the next few years.
• Economy – Boston continues to enjoy a red-hot economy, and this neighborhood—the oldest in the city—is no exception. From 2014 to 2015, the city’s overall economy grew by 3.6 percent. Meanwhile, during that same period, the annual job growth rate was 2.7 percent, which is strong. Unemployment continues to fall across the city and region, with the rate dipping to less than 3 percent during the last quarter of 2016. These and other factors are good news for businesses like shops, stores, hotels and restaurants because consumer confidence tends to rise under such conditions too.
• Investors – The city continues to be a magnet for investors from across the country and world. While the biggest players tend to focus on core downtown areas like the Financial District and the Seaport, competition in those markets is forcing many to move further afield. With the local market of this neighborhood doing so well, it should surprise no one that investors are increasingly turning their attention to this part of the city.
• Prices – The vast majority of commercial real estate in this part of the city is offered for lease rather than for sale. Like elsewhere in the city, asking rents have climbed steadily over the last several years. However, if you are looking for a location that should cost far less than average, this is a good place to look. Standard properties for shops and the like tend to lease out for fairly competitive rates still, but that is likely to change dramatically in the near future.

Types of Space

Prior to searching Boston City Properties’ listings for properties for your business in this neighborhood, familiarize yourself with the types of real estate that prevail in this part of the city. How likely are you to be able to secure the type of square footage that you need? If the type of property that you need isn’t too common here, you are in for an especially uphill battle.

Unlike many Boston neighborhoods, this one doesn’t have much of a major commercial corridor. Instead, it has several areas where shops, cafes, restaurants and the like tend to be more highly concentrated. In particular, you will find properties like these along Main Street and in and around City Square. As is the case in any commercial real estate submarket, properties in some parts of the neighborhood fetch higher prices than those in others.

The best way to really understand the available options in this neighborhood is by getting a referral to a local commercial real estate agent. Boston City Properties can help you in that department because we have connections with such professionals throughout the city and state. Your agent will possess insider’s knowledge of this neighborhood and its commercial real estate market, and this knowledge will make a huge difference for you as you search for a suitable place to locate your business.

Prices

Although it would be nice, there are no hard and fast rules regarding commercial real estate prices in any market. This one is no exception. The average citywide monthly rent for real estate that is suitable for boutiques, shops, stores and the like was around $32 per square foot at the end of 2016. If that sounds way too expensive for you, don’t worry. While rent prices easily meet and exceed that price in downtown core areas, lease rates tend to be much more affordable in this neighborhood.

If you never really shop for commercial real estate and plan to rent a property, be sure to familiarize yourself with the various lease types that may be quoted. While the majority of listings are quoted using triple-net lease terms, this isn’t universally true. Here’s a quick rundown of the most prevalent lease types, which include the following:

• Gross lease – The simplest option for tenants, a gross lease is one in which the tenant pays a single, flat rate to lease the property. The landlord then covers everything themselves, including maintenance costs, property taxes and insurance. Very few leases in the listings are quoted like this.
• Single-net lease – Under this type of lease, the tenant’s monthly rent includes a portion of the property taxes. The landlord covers maintenance costs and property insurance.
• Double-net lease – With this type of lease, a tenant’s monthly rent includes percentages of the property taxes and insurance. The landlord still covers the cost of maintaining the property.
• Triple-net lease – The most common type of lease, this one is sometimes referred to as a NNN lease. As you’ve probably surmised, the tenant covers the rent along with portions of the property taxes, property insurance and maintenance costs. Keep in mind that with a NNN lease you must keep room in your budget for these additional expenses.

As far as price trends go for this neighborhood’s commercial submarket, rents have steadily risen over the last several years, and this is likely to continue to be the case. The average price for commercial square footage across the city is around $16 to $18 per square foot, but much better deals are to be had in this area.

Factors Affecting Commercial Real Estate Prices

Even if you have a basic understanding of how much you’re likely to spend on buying or leasing space in this neighborhood, prices vary widely even within a single submarket. By understanding these factors, you can decide which ones are important in your case and which ones are irrelevant. From there, you can more easily select a property that meets your business needs.

Some of the top factors that affect commercial real estate prices include:

• Lease terms – Generally speaking, the longer that a tenant commits themselves to leasing a property, the less that they are likely to pay per square foot. The major exception here is the month-to-month lease, which tends to be among the most expensive options because landlords know that tenants may split quickly. Think about how long you are willing to commit yourself to a property in this neighborhood. If price is a top concern, opting for a longer lease may be the answer.
• Location – It stands to reason that location is a huge factor affecting the price of commercial real estate. However, a property doesn’t have to be right in the busiest part of the neighborhood to command higher prices. Properties that are in close proximity of traffic generators like universities, anchor stores and mass transit stops tend to fetch higher lease prices. If you don’t rely on foot traffic too much, this won’t matter a lot. If you do, though, it may be worth it to pay more for the exposure.
• Building condition – The condition of the property that you’re going to buy or lease also affects its going rate. You will pay more to rent square footage in a building that is in tip-top shape for obvious reasons. You’re less likely to waste valuable time maintaining the place, and you’re less likely to suffer from business interruptions.
• Size – In many Boston neighborhoods, it actually costs more to lease smaller properties than larger ones. This rule doesn’t apply quite as much in this neighborhood because it’s a bit removed from core downtown areas. Either way, it doesn’t make sense to pay for square footage that you don’t need, so come up with a practical number. Boston City Properties can help in that regard. Our website is loaded with articles and other resources that provide guidance and information about this topic and many others, so you can learn the basics of determining how much square footage you truly need.

News

Boston City Properties keeps track of current events regarding commercial real estate in Boston, and plenty has been happening in its oldest neighborhood. As you will see, most of the latest developments strongly suggest that this neighborhood is on its way to becoming much more of a force to be reckoned with in terms of shopping and dining, which is great news for business owners who are thinking about setting up shop here.

Some of the most important developments concerning this neighborhood’s commercial submarket lately include:

• Hood Park – There’s been lot of excitement lately over at the site of the former H.P. Hood dairy complex on Rutherford Avenue. The site is currently being redeveloped into what is certain to become one of the most important mixed-use developments in this neighborhood. Upon completion, the 20-acre Hood Park site will include a 177-unit apartment building, more than 375,000 square feet of office area and a five-story garage. It also looks nearly certain that a new concert venue will open on the campus. The more than 63,000-square-foot venue will be able to accommodate more than 4,000 people, which will make it the largest indoor facility of its kind in the city. The venue will also include square footage for restaurants, bars, cafes, shops and the like.
• One Charlestown – Meanwhile, the One Charlestown development in Bunker Hill is transforming that part of the neighborhood. The complex added more than 2,100 apartments. When it is complete, it will also include two new parks, streetscape improvements and more than 90,000 square feet that will be earmarked for civic needs as well as for shops, stores, boutiques and the like.
• ShoeBuy.com – This internet retailer’s move from downtown to this neighborhood is breathing even more life into its already vibrant economy, creating even more of a draw for many businesses.

How Boston City Properties Can Help

Finding suitable square footage for a shop, store or other business in this thriving Boston neighborhood is often easier said than done. Unfortunately, business owners often rush the process and go it alone in the mistaken belief that it’s the only way. In reality, Boston City Properties is here to arm you with tons of resources that are sure to make your search much easier:

• Commercial real estate listings – Sign up to search our constantly updated listing for commercial properties for sale and for rent throughout the city. Each listing includes in-depth information about the property in question, and there are tons of photos too.
• Powerful search capabilities – Amassing tons of information is one thing; making is useful is another. When you sign up using the easy form, you can avail yourself of our convenient search tool right away. Select this neighborhood to limit your search to within its boundaries. Use filters for things like price range, square footage and more to refine your results even further. You will then receive only relevant, useful results for properties that meet your basic criteria.
• Online resources - Boston City Properties’ website serves as a powerful knowledgebase for anyone who is seeking real estate in and around Boston. Because we’re experts regarding Boston real estate, we have published numerous articles and other resources for people who are searching for real estate of all kinds. Chances are that you will find several useful articles within the pages of our site that will make your search even easier.
• Real estate professionals – Thanks to the resources that we provide, the beginning of your search can largely be handled from home with an internet connection and a compatible device. At a certain point, however, you’re going to need to get out there and look at properties. When you’re ready to go, contact Boston City Properties for a referral to a local commercial real estate agent with extensive knowledge of this neighborhood’s commercial real estate submarket. This agent can also assist in negotiations and guide you through closing or lease signing.

Headquartering a business in this bustling Boston neighborhood is a smart move. Make it smarter still by availing yourself of the considerable help that is offered by the team at Boston City Properties. The future and ongoing success of your business largely hinges on the type of property that you manage to secure, so it pays to put real time and effort into the endeavor. By taking advantage of what we have to offer, you can maximize your results and find what you need much faster. We’re here to help, so please contact Boston City Properties for more information.

Click Here to Search

Retail Space