Middleton, MA Business Space
This is a town in Essex County. In the 2010 U.S. Census, it had a population of 8,987. The total territory of the community is 14.5 square miles, with water comprises 0.5 square miles of that. Boston is 19 miles to the south of the town. I-95 passes through the eastern tip of the community. Massachusetts Route 114 passes through the middle of the town.
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Retail Space
A Great Place for Business Space
The community is a great choice for leasing or purchasing business space since it is a leader in the tourist industry in the state. The county it is a part of is the fifth in state tourism earnings. Visitors to Essex County spend $898 million annually. This employs almost 7,000 people and creates a payroll of $218.6 million each year. The scenic beauty combined with the good transportation infrastructure makes the town an attractive destination of tourists and their money. This makes the town an excellent location for all types of business businesses.
The Neighborhoods of the Community
The community is divided into two sections by Massachusetts Route 114. The following is a brief description of each area:
East
This area of the town has I-95 passing along its eastern border. The Ipswich River flows from the north through this area. The North Shore Community College is located in this neighborhood.
West
This section of the community is dominated by two large bodies of water – the Emerson Brook Reservoir and Middleton Pond. There are many long trails near the reservoir. The Aunt Betts Pond Land conservation area is also located in this area.
Leasing Business Space
There have been four spaces available for lease on the local market recently. The following is a brief description of two typical examples:
Circle Furniture Plaza Space
This 2,500 square-foot space is available with a triple net lease for a rental rate of $26.00 a square-foot per year. It is located on a main route in the town that has a traffic volume of 26,900. It is part of a freestanding 2014 development that has a total gross leasable area of 17,400 square-feet. The complex’s Walk Score is 47, which means it is car dependent.
Main Street Space
This space has two suites, a 1,500 square feet unit and a 3,200 square-feet unit. It is being offered with a full service gross lease at a rate of $15.00 a square foot per year. It is located on Massachusetts Route 114 and has a traffic volume of 29,000.
Buying Business Space
There is a variety of types of business space available in the town. The following is an example of one of these spaces:
North Shore Business Center Space
This 5,000 square foot building is zoned M1 and is a flex property that may be used for retail, office, medical, or light industrial. It was built in 2017 and sits on 13.51 acres. It is located next to a business plaza and is near Massachusetts Routes 114 and 62. It is listed for $825,000.
Listing Business Space
Though it might seem simple to sell a business space in a town like this with a tight supply, sellers may find it challenging to justify their property pricing since there are few comparable properties. Experts recommend using a property’s capitalization rate to counteract this lack of comparable spaces. “It can be extremely difficult to find similar commercial properties for a true price comparison. Mixed use and large properties can make this task even more difficult, so this is why commercial property is best valued according to the building’s Net Operating Income (NOI). The capitalization rate of your property can be used as an easy way to compare your asset with others available on the market,” advised one property professional.
Many characteristics are needed for a community to be the best location for a business. A strong local economy, good transportation, strong values, and a safe environment all play a part in creating a business-friendly climate. This town has all of these. As one resident said, “This is a tight-knit community. It is very close to a lot of places. This is a fantastic town to raise a family in highlighted by a great educational system [and a] low crime rate.”
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Retail Space