Maynard, MA Business Space
This town is located in Middlesex County. It has a population of 10,106 in the 2010 U.S. Census. The community has a total territory of 5.4 square miles, with over 97% of that being land. The Assabet River runs through the area. Boston is 22 miles to the east of town.
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A Great Place for Business Space
The city was founded in the mid-19th century when a local businessman purchased water-rights to the river and set up a carpet mill powered by the rushing water. Though the wool industry has faded many years ago, the town has continued to be an excellent place for enterprising entrepreneurs for a few important reasons. First, the transportation system is good. The Massachusetts Bay Transportation Authority’s Commuter Rail Fitchburg Line has a station in South Acton, just a mile from the town. An extension of the line through the town will be completed in 2018 and to reach the town border of neighboring Stow. Second, the community offers much scenic beauty and outdoor activities that draw many visitors from outside the area. This county is the second most visited area in the state with over $2.6 billion spent by tourists each year. Tourism supports 21,700 jobs in the area. These factors have created a community that is business friendly and an excellent choice in which to purchase or lease business space.
The Neighborhoods of the Community
There are two neighborhoods in the town. The following is a brief description of each one:
Town Center
This is the area of town north of the Assabet River, which passes east and west through the center of town. There are 14 parks or conservation areas in this section of town. Many of these open areas include walking trails. This neighborhood is the most expensive section of town in property prices with a median real estate price of $412,603.
Parker Street/Great Road
This neighborhood lies in the southern part of town. Almost the entire western area of this section is covered by the Assabet River National Wildlife Refuge. The median real estate price is $ 369,853.
Leasing Business Space
The community has a wide variety of types of business space. The following is a brief description of types available on the recent market:
Anchored Mixed-Use Development Business Space
This 700,000 square-foot development was constructed in 2017 and is anchored by a major grocery store. Units range in size from 1,000 square-feet to 35,187 square-feet. Rental rates range from $17 to $36 a square-foot per year.
Storefront Business Space
A good example of storefront property is a space located in the historic center of town on Main Street. The street-level space is in a three-story building constructed in 1900. It is a 1,000 square-foot unit with a rental rate of $16.80 a square-foot per year. This space has a very walkable walk score of 80.
Buying Business Space
Several types of business space exist in the area and have recently been on the local market, though the overall supply of the market may be tight when compared with the demand in the town. The following is a survey of the spaces available in the community:
Historic Business District Space
This 1924 building with 8,237 total square-feet of space recently had a 400 square-foot space listed on the market. This street-level unit also included 400 square-feet of basement space. It had a traffic volume of 9,400 as of 2016.
Free Standing Building Business Space
This 1,350 square-foot building was a car-dependent space. It had seven parking spaces in the front, with 30 more in the back. Traffic volume was 11,315 in 2016.
Listing Business Space
With a tight supply of business space available in the local market, owners interested in marketing business space may have a prime opportunity to profit from their property. Experts recommend that owners consider the prospective buyer when listing a business space property. “Take a really good look at the outside of your building…making your property as pleasantly appealing as possible gives potential buyers a great first impression. A neglected building can discourage buyers and affect the sale price,” advised one property expert.
This town that began as an economic powerhouse during the Industrial Revolution has learned how to thrive in the 21st century economy, making it an ideal place to purchase or lease business space. One resident captured the town’s essence well when he said, “Maynard is a lovely town, with lots of amazing small businesses and shops flourishing around the center.”
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Retail Space