Fairhaven Office Space

Fairhaven is one of the most picturesque towns on the east coast of Massachusetts, situated 50 miles south of Boston in the southeastern corner of Bristol County where the Acushnet River flows into Buzzards Bay. I-95 and US Route 6 both pass through the center of town and MBTA is intending to extend its commuter rail service to the nearby town of New Bedford. SRTA operates a frequent bus service that connects Fairhaven to other neighboring towns.

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With the area having many bays, coves and inlets as well a beautiful harbor, yachting, sailing and water sports are very popular most months of the year. The town has two parks, Cushman Park and Fort Phoenix. Cushman Park is the smaller of the two and has a running track, a playground, tennis courts and ball fields. Fort Phoenix Park is located at the entrance to the harbor, south of US Route 6, and is a bayside park west of what remains of the original American Revolutionary War-era Fort, and has the largest of the small bathing beaches. This park is very popular and is a great location for biking, hiking, walking and in-line skating.

For tourists and new residents, the Visitor Center or the free library has a list of the many festivals and events that take place during the year. There are several world renowned manufacturing companies based in the town whose history dates back to the 19th century, but new businesses are cropping up everywhere as the town’s population swells each year when families relocate from big cities and tourists and visitors swarm to the coast. Because of the popularity and position of this community, many companies are moving out of big cities and opening branches in fashionable, coastal towns like this.

Some prefer to lease property for one year until they find a suitable unit to purchase, whereas others prefer to continue leasing with a view to moving into larger premises when they outgrow their present space. For entrepreneurs setting up a new venture, leasing an office space is ideal. Joining a local Chamber of Commerce demonstrates your company’s reliability and trustworthiness to the local community and a rating from the Better Business Bureau will help boost your sales and number of clients.

Every week different commercial properties become available. To lease a small 1,400 sq. ft. space on a nice plaza will be around $14,000 per annum or $1,166 per month. Depending on the type of business or practice you have, this is a good, central location. If size is the problem there are many larger units for lease. A 2,800 sq. ft. property will cost around $3,652 per month and an entire building with 7,850 sq. ft. will cost just less than $10,000 per month.

Many larger companies prefer to purchase their new location. Their service or product has proved a big success in the past, so buying rather than leasing is the way for them to go. Many businesses buy property as an investment with a view to leasing it to create extra income and better cash flow. The monthly mortgage payments for their investment might be lower than rent paid by their tenant, thus creating a steady income every month.

If you own a waterfront property and decide to lease it, your income will be greater than rent paid for a unit a few streets away. Any property with a water view is classed as prime real estate, so choose your purchase wisely. When your property is ready for leasing, your local commercial realtor will photograph it and create a credible description of the location and condition of your office space and also arrange viewings. Listing a property for lease is a very important part of finding the right tenant. A good realtor who knows local market prices and the area will save you time and money. They can prepare the necessary paperwork and conduct the background and credit checks on the prospective tenant.

Selling a property also requires the experience of a professional. Not only will they list the property to its best advantage, but they will cut in half the stress and time needed to clinch a sale. The realtor is working for you and will remove the hassle of selling from your busy life.

Leasing and Purchasing Office Space in Fairhaven, MA

A town in Bristol County in Massachusetts, Fairhaven offers plenty of options for businesspeople looking for office space in the area. It also provides many benefits for those who have not decided yet if it will be the place that their company will call home.

This town has the same harbor as New Bedford, and it is about 54 miles south of the city of Boston. It is also near Providence (Rhode Island) and Cape Cod. The town is situated exactly on Buzzards Bay, giving it a location on the eastern bank of Acushnet River, a part of the town’s water area alongside Scipping Creeks and Nasketucket.

Among the localities of this town include the northern and eastern areas, along with its town center. It also has Oxford, Nasketucket, Poverty Point, Winsegansett Heights, and Sconticut Neck. The most popular places for residents are along the eastern village, the Sconticut Neck, and mostly the northeastern quarter of the town.

However, these areas are also the ones with the most expensive properties. Other neighborhoods include Oxford and the northern part of the town, along with the town center, Wigwam Beach, and Silver Shell Beach where the prices of commercial properties can be quite high for startups. Still, these neighborhoods are great options as well because they have appreciated the most out of all the places in the town.

Two huge public parks are in this area, as well as some smaller ones. The parks have ball fields, tennis courts, and several other amenities. There are also commercial properties for sale and lease in this place, which can be a smart option if you are searching for a busy area.

Buying a Unit

The median value of properties in this area is $272,923, which has increased almost four percent from last year. Since this number will likely rise again with the same amount by next year, it makes sense to purchase a property in this town now.

Currently, the market is considered a buyers’ market, which means that it favors the purchasers in this area rather than the sellers. You may want to take this chance to find a nice property with an excellent location in this town. The median list price is $224 per square foot. The mentioned rate is higher than some of the neighboring areas, including the Providence Metro, which has an average of about $200.

Although the pricing is a little high, it is still much more affordable than other nearby towns and cities. The appreciation rate is also a big plus, especially if you choose neighborhoods like Nasketucket, Oxford, and the town center.

Some factors affect the prices of the properties here, including the location and the available amenities of the structure. Costs can be anywhere from $414 to as much as $18,000+ per square foot. Some properties can be quite expensive, such as units at Elm Avenue where a 1,200 square foot structure has an asking price of almost $1.4 million. The area is car-dependent and offers some transit options. Nevertheless, it is a good option for those who want their business to be near the marina.

You can finance the property that you would like to purchase in this town through a bond, which can give you the upside of a predictable interest rate. You do not have to worry about annual escalations if you choose to buy a unit in this area, which can help you afford it.

Leasing a Unit

One of the things that you will like about renting in this town is that it has many options for you. Many properties are available here so that you can lease them for an affordable monthly price. Rentals here usually are around $1,685 per month on average, which is less than the rates of surrounding areas, including Providence Metro where the average is $1,741 monthly.

Of course, the costs can differ from one property to another depending on the type of the building, the exact location, and other factors. However, it is typical to find a commercial rental unit that only asks for $0.83 per square foot per month. At Commons Way, buildings here can give you easy access to shopping centers right at the center of the town’s retail corridor. You can find properties that offer office spaces where you can be co-tenants with other businesses.

Listing the Property

When you have a unit for sale or lease in this town, you want to make sure that it is listed properly, including online. There are no worries though because Fairhaven is one of the top options for businesses in Bristol County. Many individuals are looking for units where they can start their companies, and a number of firms are also searching for places where they can expand their trade.

This town has plenty to offer with its accessibility to major US intersections and some properties that overlook the rivers, which can be the spot for a thriving business.

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