Choosing Retail Space in New Bedford, MA
When you have a retail store, one of the most important decisions you have to make has something to do with the space. You need to find the right place for your venture, which is quite critical to its success. You have various pivotal points to decide upon when searching for the right area for your shop, which includes the location of the property.
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The city of New Bedford may be the best site for your store. Also known as The Whaling City, this area is one of the most heavily-populated places in the whole state of Massachusetts. It is considered a vital whaling port all over the world and is a coastal city with almost 20% of its total area made up of water.
It is bordered by other towns, including Freetown, Dartmouth, Acushnet, and the Buzzards Bay, which is by its south. It has a harbor with the same name as the city, and it shares the body of water with Fairhaven. Aside from bodies of water, it also has several playgrounds and parks, which may be helpful for you if your shop targets families or children.
Leasing and Buying Store Units
When searching for the suitable real estate for your business, you have a variety of options in this area. You can narrow down the choices depending on your business type and your budget. For instance, if you have a small business that has limited inventory, you can choose a kiosk. On the other hand, if your trade is more extensive than most shops and you prefer a big spot such as in strip or shopping malls, you can find some units with this attribute as well. It is also possible to buy or lease a standalone building in this city.
If the place is your first location, you need to make the right decision, which can be quite challenging since you may not have experience in selecting the spot. The city currently has a cold real estate market, but it does not mean you will not benefit from it.
You can take advantage of the situation since there may not be a lot of other buyers looking for retail space in this area. Right now, the prices of properties in the city have gone up compared to last year. The median value is $227,123, and this number may increase some more by next year.
This city mostly has affordable pricing when it comes to the properties available. In fact, the median price per square foot here is only $162, which is lower than its neighboring towns and cities. When looking for a place where you can find good choices for businesses, you can select from the top neighborhoods in this city.
Some of the best options are Ludlow Street, Acushnet Avenue, and Ashley Boulevard. You can benefit from these areas, mainly if you purchase a property because they have the highest appreciating rates since 2000.
Popes Island is one of the neighborhoods that you may want to check. It has an adequate amount of inventory when it comes to commercial units. Plus, this area may be the right one for you, especially if you want waterfront property. Stores and restaurants can take advantage of a good spot in this neighborhood as well as the other nearby areas in the city.
How to Get People to Lease or Buy Your Property
Meanwhile, if you are not looking for a unit but you own it, and you wish to find a business owner who wants to rent or buy your place, you should list the property. It is one of the most critical tasks that you have, and you should know how to market your spot correctly.
Many retailers would want to grab a site for their store in New Bedford. It may be difficult for them to find the right place and at the same time, it may also be a challenge for you to locate a lessee or a buyer.
While you may not have a lot of competitors in this city, it is essential that you get your property in front of a multitude of brands. You can achieve this goal if you list your spot and location through our website. Whether you have a market stall or a high street store, you should make sure that you reach out to the correct group of people or business. Get your site booked in no time with our help.
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Retail Space