Groton Office Space

The town of Groton Massachusetts is located in northwestern Middlesex County one hour’s drive from Boston via US Route 3. The closest MBTA commuter rail service is 4 miles away in Ayer, which stops at North Station and also takes approximately one hour. The town is surrounded by many hills the largest of which is Gibbet Hill a popular place for weddings and special events. The Nashua River runs through the western part of town to Groton Town Forest, which is one of the many conservation areas located within the town. The forest is kid and dog friendly, has many trails for walking, running and mountain biking in summer months and is busy in winter for snow related sports.

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The local country club is owned by the town and is open to the public. The complex has many recreational, family oriented facilities and town residents get a discount on the membership fee. Amenities offered include summer camp programs, a banquet room for weddings and parties, a nine hole golf course and a large swimming pool.

Each September, the town holds the annual “Grotonfest,” an all day family event with artisan booths, raffles, good food and live music. Charming Main Street has something for everyone, a farmer’s market, a great selection of restaurants and cafés, as well as eclectic retail shops and galleries.

The Nashoba Valley Chamber of Commerce can assist with inexpensive advertising for businesses to amplify their exposure within the community. Joining the Chamber helps new or existing businesses create better relationships within the area through several programs and events. Being a member of a business chamber holds many advantages for new businesses or companies relocating to the town. The chamber can put you in touch with accounting or financial services or assist in other business related matters.

When a company opens a new location within a new town, leasing office space is a very popular occurrence. Leasing gives a company flexibility to select the size of the unit they want without any immediate, extra expense. There will always be the cost of supplying furnishings and fittings, but there should be no other great cash outlay. Some businesses lease their units furnished, which is ideal for a smaller company requiring short term, temporary accommodation. Many industrial companies, situated in the suburbs or on an industrial park, like to lease space near the center of town for the convenience of agents dropping off samples or customers paying bills. Office space can be as small as a few hundred square feet or as large as many thousands of square feet. To lease a 750 sq. ft. unit downtown will cost around $935 per month and a larger 3,600 sq. ft. unit in a similar area might cost around $4,650 per month.

If the company has the resources, sometimes purchasing property is best. Many like to buy space bigger than their needs to enable them to use part of the building for themselves and then lease the remainder. This buying method creates a secure monthly influx of cash, which can offset the cost of a mortgage payment. If a business has the cash flow and a good credit score, buying property on a mortgage can work out less expensive in the long run. Purchasing a 2,027 sq. ft. unit downtown will cost around $235,000 and a 5,500 sq. ft. one will sell for around $666,625.

If you have space to sell, a local commercial realtor will know within which price range to list it. Having knowledge of the area’s property prices is essential when listing a property for sale. The small expense of a realtor’s commission will be well worth getting the property presented in a professional manner and having a number of interested parties viewing it and then obtaining a quick sale.

The same applies when leasing an individual unit or several units within the same building. Each unit size will generate a different rent depending on the square footage, location and condition of the space. Your local realtor will know the going rate for leased space in the area and will offer advice. Listing property for sale or lease is one of the most important parts of real estate transactions, so make sure you do it right with a knowledgeable, local realtor at your side.

What to Expect with Office Spaces for Sale and Lease in Groton, MA

Although Groton is a small town, it is considered the 170th largest community in the state of Massachusetts. It has two constituent neighborhoods and has housing costs that are high across the nation. However, the real estate prices here are not as comparable to the others that are considered the most expensive places in the state.

The town center and the western area where Vose is located are where you can find properties that have high asking prices. However, they are all quite reasonable merely because they offer excellent accessibility, benefits, and amenities to people and companies here.

Restaurants, farmers’ markets, and trails are all around the area, including in Main Street, Culver Road, and Bishops Way. As a quaint New England town, this place is where you can find historic homes, retail stores, farms, and several acres of conservation land. It is also a fine place to discover properties for businesses no matter what your industry is.

Benefits of Buying and Leasing a Commercial Property in This Town

You can find office spaces suitable for your business in this area. Whether you work alone, as a tandem, or a team of five or hundreds of people, there are units and buildings here that you can choose from for your company.

The town offers options for people who work best in their own room as well as those who want to take advantage of the opportunities provided by a shared unit. With the selections available, you will be able to eventually identify the one that best suits your requirements and your company.

In this area, you will see that the median value of the properties is less than $459K, which may be more expensive than some cities but also more affordable than others. The good news here is that you can use it to your advantage, especially if you buy a structure in this town. The buildings here have gone up more than four percent over the past year, and there is a prediction that the values will increase more than three percent by next year.

These numbers are undoubtedly profitable, particularly if you plan to move and sell the property in the future. Currently, this town has a median list price of $227 per square foot by March 2018. The rents are a little bit higher than the Boston Metro where the city has $2,492, and the capital has $2,419.

Commercial buildings are all over this place, and you can choose whether to purchase or to lease. You may find that the other may suit you better. For instance, if the large down payment can be a problem to your transactions or the business itself, it is much better to lease.

On the other hand, if you have the funds and you believe that you will thrive here in this part of Massachusetts, purchasing is the option to go for. Whether you select to buy or lease, most of the buildings here, particularly the ones that are designed for professional use, can provide you with convenience.

Some of the properties even have features, such as concierge, free Internet, utilities, and conference rooms. These facilities can be useful for both startups and big companies. One of the best things about choosing to have your business in this town is the possibility of drawing in more clients from all around the Boston area.

The accessibility of this town to specific locations in the county, as well as the busy traffic that mostly occurs in neighborhoods like Main Street, can be beneficial for your business. Foot traffic volume may not be as high as the other areas, but there are definitely some locations that can supply your company with possible clients. In short, there will always be enough number of people visiting and passing by the area. It can be useful, especially if your business is connected to retail.

Some neighborhoods in this town are close to shopping centers, schools, and hospitals. Depending on your target clients, you may want to be nearby specific groups of people or organizations. If you run a busy company, it also helps to consider the location that your employees will frequent. Congestion should be thought about, which can discourage customers if it is too high and can affect your employees as well.

Advertising or Listing the Property

With all things deliberated, it is essential to list your property if you aim to sell it. You should do the same if you have plans to rent out a portion of your company’s room. It will allow you to reach out to potential clients and at the same time, find the right person or business to work with. A simple search will permit them to locate your unit or building wherever it may be in Groton.

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