Melrose Office Space

Simply put, the Boston Metro area is consistently growing, and there's never been a better time to grow with the city by making the area the home of your startup or small business. Melrose, MA, which is about nine miles from Boston, is well positioned to take advantage of the business opportunities presented by the city. Boston is one of the leading cities when it comes to business, and leasing or buying space for your business in an area like this one can be a great idea due to its close proximity and beautiful neighborhoods. The town also has a population of almost 28,000 people, so you can expect to have a strong pool of potential clients/customers.

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Neighborhoods Worth Considering in the Area

When you're looking for a new town to establish your business, it's a good idea to find one that has good neighborhoods in which to settle. This particular town has five neighborhoods to choose from, which include:

• Lynn Fells Parkway – This town has both urban and suburban environments that can work for people looking for a space for their office. Lynn Fells Parkway is an urban area that has more than its fair share of large buildings and a sprawling populace. With so many large buildings, the options for office space are fairly extensive.
• Melrose Highlands – This part of town has a high amount of mass transit users, which can be beneficial if you select a location that's easily reachable by bus or train. The population here is fairly dense, which makes this a fairly urban neighborhood to set up an office for your startup or small business.
• Upham Street – Upham Street is actually a suburban neighborhood in town, but there are more than a few options in this area of town for a commercial space. In this area of town, the majority of the residents look for work in executive, management, and professional occupations.
• City Center – This area of town is distinctly urban, and as a result, there are many buildings that can provide commercial space for your business. Like in other parts of town, this area has a sizeable pool of professionals to tap.
• Fells – As a primarily suburban neighborhood, Fells has a lot to offer business owners looking to expand into this town. This area has good mass transit and about 25 percent of the residents use the train to get to work daily. As a result, employees and clientele alike should have no problems reaching your business.

Leasing Space for an Office in the Area

Are you wondering if you should lease or buy your next office location? Well, both of these business options have their benefits, which is why you should weigh how well they each work for your needs. When you opt to lease a space, then you'll have the advantages of:

• No Down Payment – If you're purchasing a property for your business, you'll have to pay a down payment and you'll be paying a monthly mortgage as well. When you lease, you simply pay rent in order to use the property for your business needs. While you'll usually have to pay a deposit, which usually amounts to about a month's rent, you won't have to pay the 10 to 30 percent required for a real estate down payment.
• Managed Maintenance – When you opt to purchase your business's space, you'll also have to take on other responsibilities as well such as maintenance. With a leased property, the property owner will usually manage the maintenance of the property, though this may factor into your rent if you have a triple net lease.
• Deductibility – Lease payments are deductible. If you're leasing commercial property, you'll be able to deduct rental expenses on your taxes.
• Less Commitment – One of the most important factors in running a business is being able to adapt to the market, and when you're leasing, you can adapt more quickly. Is business experiencing a boom in another neighborhood? When that happens, you can either expand your business into that neighborhood or simply cut your lease and move in order to take advantage of the opportunity.

Buying Space for an Office in the Area

Purchasing commercial property has its advantages as well. When you own your business's space, you'll have the benefits of:

• Rentability – Want to make additional income? When you own the space that you're using for your business, you can rent out any additional space to other small businesses. This can make paying your mortgage easier.
• Steady Costs – You can lock in your commercial mortgage for a long-term period, which means that your business will have fixed costs, which will become increasingly affordable over time.
• Equity Building – Having good equity is amazing when you want to expand your business; you'll be able to borrow against your current space when it's time to open up a new location.
• Retirement Money – Commercial real estate is the fastest appreciating type of real estate, and when you're ready to sell, you should see a big profit. Additionally, you can simply rent out the space to another business and receive optimal cash flow.

Listing Office Space for Lease and Sale

If you have this type of commercial space that you're looking to sell or lease in town, you'll have many options, especially considering how close the city is to Boston. When you're ready, it's always a good idea to seek out a brokerage that really understands the market, which is why you should contact Boston City Properties; we understand the ins and outs of listing commercial space and have thousands of satisfied customers. Give us a call at 617-247-1933.

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