Marblehead, MA Business Space

This community is located in Essex County and had 19,808 residents in the 2010 U.S. Census. It is a North Shore community that consists of a rocky peninsula that juts out into Massachusetts Bay. The town also includes an adjoining smaller peninsula to the east. The community has an area of 19.6 square miles, with 4.4 square miles of land and 15.2 square miles of water. Several small islands in the bay are part of the town’s area. It is 16 miles northeast of Boston.

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A Great Place for Business Space

The town’s economic environment is business-friendly making it a great location for entrepreneurs. The town’s location on the ocean and its historic tradition as a shipping center has made it a popular destination for sailing, recreational boating, kayaking and fishing. This tourism has made an important impact on the area, with over $898 million spent annually in Essex County and 6,900 jobs provided. This high volume of visitors makes business space in the town a wise investment.

Neighborhoods in the Community

The town has four neighborhoods. The following is a brief description of each one:

Town Center

This is the historic central part of town and is the most expensive area for property. It has a population of 3,308. Most of the buildings were constructed before 1940. This area includes the rocky peninsula to the east of the waterfront.

Beacon Street/Green Street

This neighborhood lies in the northern section of town and is surrounded by the ocean on three sides. The Steer Swamp Conservation Area is located in the center of this neighborhood. The neighborhood’s median property price is 17% lower than the real estate in the Town Center district.

West Town Landing

This neighborhood is sandwiched between the Town Center and Beacon Street/Green Street sections. It includes a part of the city’s main business district on the eastern harbor waterfront. Median property prices are over 31% less than the Town Center prices.

Clifton

This neighborhood lies in the southern section of town and has a population of 5,587. This area has the second highest property prices in the town. The neighborhood has newer construction than the historic district, with most property having been built since 1940.

Leasing Business Property

The town features a variety of business spaces available for lease. On the market recently, property prices ranged from a 130 square-foot space listed for $500 monthly rent to a 250 square-foot space listed for $850 monthly rent. A good example available space is a unit located on Front Street. The street runs along the town’s northeastern waterfront that overlooks the harbor. It is part of the historic section of town, with much of the construction dating before 1940. The narrow street is a mixture of residential property and small, walk-up business space, such as a 1900 vintage three-story commercial property with 45,000 square-feet of total area. The building is divided up into several small business spaces ranging from 300 square-feet to 1,300 square-feet. Though the property has an exterior rustic charm, it has a fully renovated interior. Monthly lease of the units begins at $650.

Buying Business Property

There are many promising properties to choose from for the prospective buyer of business space in the community. Recently, nine business properties have been listed locally, ranging from a 1,900 square-foot space for $199,500 to a 4,431 square-foot space listed for $695,000. Many are located in the Town Center neighborhood. A prime example of this type of property is a recently renovated building on Washington Street. Situated along streets lined with antique lampposts and brick-paved sidewalks, this corner property is a near the scenic city harbor in the heart of the historic business district.

Listing Business Property

For property owners wishing to market business space, this is an opportune time. The community was recently chosen as one of the area’s most beautiful towns to visit by the travel website “Culture Trip.” This promises to continue to fuel the strong tourism trend of the community that brings thousands of visitors to its streets and shops annually. A property agent with expertise in the local market is a great asset in successfully listing business space.

“Beautiful Massachusetts seaside town with a rich history, perfect for families. Especially lovely during the summer with the cool ocean breeze. Friendly, small town with restaurants and nice boutique shops,” is the way one resident described the community. This is why the town presents a great business opportunity for those interested in business space.

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