Eastham Office Space

Located in the lower section of Cape Cod, and surrounded on both sides by water, is the town of Eastham in Barnstable County. With Cape Cod Bay on one side and the Atlantic Ocean on the other, there are numerous harbors and inlets and for centuries fishing has been the main industry in the town. In recent years, since the advancement in freezing capabilities, the local fisheries have become well known for their shellfish and seafood, which is shipped all over the US.

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The expressway section of US Route 6 has been named the Mid-Cape Highway and is the main freeway that connects all towns on the Cape. The road is interspersed with several sets of traffic lights and from spring through fall it becomes very congested when the town plays host to hundreds of visitors from the US and overseas.

With Eastham being situated 92 miles southeast of Boston and 96 miles east of Providence, it is now basically a resort town for weekenders and vacationers. With 40 miles of golden sand and six National Seashore beaches, vacationers swarm to the town in the summer months for the many outdoor activities and water sports the town has to offer. Not everyone heads for the beaches. Many visitors love the open countryside for walking, hiking and biking, others prefer hunting, fishing and watching wildlife, playing on lush golf courses, browsing the August Antique Fair and exploring the town’s picturesque, country lanes.

Every year the population increases with retirees or young families moving away from polluted cities to quieter, seaside towns with fresh, sea air. More and more businesses are needed for the many areas where newer housing communities are built and new strip malls created. There is always a need for all types of offices, doctors, dentists or insurance agents. With this being a “tourist” town, car rental and golf cart rental companies are much in demand as well as vacation rental offices.

A local realtor will have listings of all commercial properties to buy or to lease. If you are diversifying your company from a different location in the state and want to establish a permanent base, then buying commercial property in this neighborhood might be the answer. Every day new commercial listings become available and every year many local companies outgrow their office space and move to bigger accommodation. This gives potential property buyers, who are considering opening a branch of their business in a new location, the chance to purchase and refit a vacated space when they need to expand. Purchasing a unit in a prime position is usually a good investment for the future and commercial mortgage payments might be less per month than leasing a comparable property.

An older, 1,632 sq. ft. multi-use property on US Route 6, which has had many former uses and is great for a professional office, will sell for around $680,000 and a much larger 8,500 sq. ft unit on the same road close to a well known restaurant, will sell for around $1.2 million.

By comparison to lease a 1,634 sq. ft. unit on the same road for one year will cost around $2,200 per month or $26,400 per annum and to lease a 6,800 sq. ft. property for one year will cost around $8,300 per month or 99,600 per annum. For business owners without the capital to buy, or unsure of the business capabilities of the neighborhood, leasing is a great alternative. Leasing on an annual basis also gives business owners the option to expand and move to larger premises every few years as their company grows.

To list office space for lease or sale, contact a local realtor who has a long history of leasing or selling commercial real estate. He or she knows the area well and can advise about any pitfalls you might encounter. When proposing to list a property for lease or sale, there are legal issues that need to be addressed and the realtor can put you in contact with the correct people to help. A local broker has knowledge of the area, the price per square footage and the price range of other premises for sale nearby. Working with a professional will create confidence in potential buyers and produce the chance of executing a quick and favorable sale.

Eastham, MA Office Spaces for Sale and Lease

Eastham is famous for being the gateway to the National Seashore of Cape Cod. Many people visit this coastal community throughout the year because of its enjoyable atmosphere, pristine beaches, and magnificent views.

Those who want to invest here will find waterfront homes, which allow the residents to take in the stunning views right from the comfort of their place. The community is surrounded by wildlife and historical sites, including the oldest windmill in the whole Cape Cod area.

Why Lease or Buy Units in This Town

The town has properties with an average price of $458,366, and the values will continue to appreciate about three percent next year. The median rate per square foot in this area is $333, which is much higher than the Cape Cod Metro where the average is $297.

As for commercial sites, the price per square foot will depend on some factors, but generally, it is around $416 to $420 per square foot for units that are for sale. The ones that are for lease also differ in monthly rental rates in which some factors affect the amount you may have to pay. These factors include the location or the specific neighborhood where the structure is and the amenities available. The average rent is around $14 to $20 per square foot per year. These properties are significant investments, even though the area is mainly car-dependent.

Many options are available, such as multi-use properties. The locations are great with access to Route 6 with the communities landing up the road. The units are typically in buildings nearby water areas, and some properties offer plenty of parking.

Buying the Property

One of the best reasons why buying is a good idea is because you have the chance to build equity over time, which you can use as collateral if ever you decide to expand your company in this town. Another useful benefit is that the costs do not change over the years. It is typically a fixed loan, which means that your monthly payments will not increase during the time of the loan.

Depreciation of the building is also possible for more than 39 years. It is also possible to deduct your interest payments on the taxes you pay. On the contrary, leasing will allow you to deduct your total monthly payments, but purchasing the property will give you the opportunity to reduce your mortgage interest expenses.

When you own the property, you can also rent it out to other businesses or people, if there are available rooms and the structure is large enough. With this tactic, it can help you increase your cash flow, which can add to your monthly income.

Leasing the Property

One of the biggest reasons why business owners looking for an office space choose to rent is because they are not required to pay a substantial down payment. If you do not have enough cash, leasing is better because you can utilize the rest of your budget for other things, such as direct funding for your business growth.

You can also use the monthly payments you make, such as your rental expenses on your taxes if you choose to lease the commercial property. Additionally, the landlord should be responsible for making maintenance repairs and fixing other issues that may involve cash for some property problems. Of course, it will still depend on the lease negotiation, but landlords typically agree to pay for improvements and repairs.

However, the lessee is often responsible for keeping the office space clean inside and outside. Be sure though that the lease specifies precisely who is responsible for problems that may arise.

One more reason why you may want to lease instead of purchasing the property is that you can rent in a neighborhood that has higher-end properties. It is typically cost-prohibitive to buy a commercial property in the town’s expensive areas, such as Old Orchard, Harvest Road, and Ellis Road. However, leasing will provide you access to features that will cost you less money than if you purchase in those places.

Listing the Unit

If you are not searching for a property in Eastham because you already have one and you want to look for a buyer or a tenant, you should undoubtedly list your property. Get it discovered in the right avenue where potential lessees or buyers will find you.

You can attract leads through methods like placing clear signage at the best corner of the property. Another way is through personal networking where you talk to your friends and coworkers to spread the news about the unit.

However, the best place is still online since much of the discovery happens here. You have come to the right place to market your property through an ad that will stir the interest of the people looking for a home for their business.

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