Newburyport Office Space

If you're looking for a coastal location for your office, then you should consider the beautiful seaside city of Newburyport, MA. This is a truly picturesque town that can be very beneficial for a business due to the fact that, during certain times of the year, the population increases dramatically. This town is also able to take advantage of the Boston Metro area since it's only about 40 miles away from the city.

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Neighborhoods Worth Considering in the Area

Newburyport is a fairly small town, and as a result of this, there aren't a lot of neighborhoods in the area; in fact, there's only one. Despite this, it's not a bad idea to opt to utilize office properties that are in the middle section of the town so that you can take advantage of the business opportunities that are available throughout the year.

Leasing Space for an Office in the Area

When you're considering a new office location, one of the first decisions that you should make is whether you'll be leasing or purchasing your space. Both arrangements have their pros and cons, so first, let's take a look at the benefits of leasing:

• Deductibility – When you're making lease payments on a commercial property, it's completely deductible on your taxes.
• Lack of a Down Payment – One of the biggest expenses for property purchasers is the initial down payment that's required when you're starting the finance process. Usually, this amount is about 10 to 30 percent of the property value, which can be a lot to produce. When you opt to lease, this isn't a consideration; in fact, all you'll usually have to pay is the first month's rent, a deposit that's usually a month's rent, and perhaps a broker's fee. This means that you'll have more initial capital for the establishment of your business.
• Provided Maintenance – Typically, the landlord manages the maintenance requirements of the building. While you may have to manage the janitorial needs of your part of the property, it's usually up to the landlord to have repairs taken care of.
• Reduced Commitment – When you've found a more optimal location for your office, an owner has to jump through quite a few hoops in order to move – not the least of which is finding a buyer. When you lease, you can simply break the lease and move when the new space is available.

Buying Space for an Office in the Area

While leasing is a very attractive option, buying has its draws as well. Here are some of the benefits:

• Steady Costs – When you opt for fixed financing, you'll have a very easy time knowing exactly how much you'll need to pay in on a month-to-month basis. Rents increase, but when you have your mortgage, you'll be fairly locked in, even when considering property taxes, utilities, and insurance.
• Building Equity – Owning a building or office really gives you something to borrow against. When it's time to expand, you can borrow against your current property.
• Retirement – When you have fully made a return on your office space purchase, you can use the property as a means to fund your retirement. Not only can you simply sell the space for a large profit, but renting out the units inside can also generate significant cash flow.
• Cash Flow – Speaking of cash flow, you don't have to wait until post-retirement to make some extra income. You can rent out sections of your property so that you can increase your capitalization rate with the tenant's monthly rent.
• Portfolio Building – In addition to owning property for your business, owning property that has multiple commercial tenants is a good way to build up your investment portfolio.

Listing Office Space for Lease and Sale

If you're thinking about listing your space for lease or sale, then you'll certainly have options in this town. The market is usually crawling with startups and small businesses, especially in a town so close to Boston. That being said, it's not always easy to get started. Give us a call at Boston City Properties (617-247-1933); we have years of experience helping clients list their properties, and we also really understand each of the markets throughout the state.

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