If you are looking to lease or purchase restaurant space in the North End neighborhood of Boston, Boston City Properties is here to help. With its highly competitive local commercial real estate market, it’s crucial to have all of the help that you can get, so read on to learn more!
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Restaurant Space
The North End Commercial Real Estate Market
With a population of around 13,000, the North End – Boston’s oldest residential neighborhood – is an excellent place to establish an eatery. The median household income is around $99,000 per year, and around 6 percent of households have children, so the demographics are favorable for commercial enterprises in many ways. Known as the place to find great Italian food, the neighborhood is also home to many other dining establishments spanning many different cuisines. From Quincy Market to Government Center, it also supports a diverse population of residents and commuters.
5 Tips for Buying or Lease Commercial Space in Boston
- Know your budget – Establish a conservative budget from the start, and then select a property with lease or purchasing terms that fit within your means. Ideally, you should aim to recoup the month’s lease or mortgage payment in a single day of business.
- Study local demographics – With only around 6 percent of local households including children, the North End isn’t known as being a family enclave. Dig deep into local demographics to determine whether there will be enough interest in your offerings to support your dining establishment over the long haul.
- Watch and learn – After zeroing in on a promising location, spend time near it over the course of a day to see who comes and goes. If possible, select a location that is within a reasonable proximity of public transit stops. No MBTA stations are located in the North End, but stations serving the Green, Orange and Blue lines, including Aquarium and North Station, are generally within a 10-minute walk.
- Assess nearby businesses – Whether you end up looking at a property along Commercial Street, Atlantic Avenue or another major road, get a feel for the types of businesses that are nearby and how well they are faring. Can the market support the type of eatery that you’d like to open?
- Enlist the right help – Finally, get assistance as early as possible in your search. In particular, connect with a licensed commercial real estate agent or broker who specializes in properties in this neighborhood. Boston City Properties can refer you to someone who is certain to be a huge asset to you during your search.
Why Boston City Properties?
When it comes to leasing or purchasing restaurant space in Boston’s North End, it is crucial to have access to the right help and resources. Boston City Properties is here to provide whatever you need. Sign up now for immediate, free access to our searchable Boston commercial real estate listings to zero in on properties that suit your budget and other preferences. Contact us to be referred to a North End commercial real estate agent who can guide you through the process, and visit our website often for ongoing information about local market conditions.
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Don’t make your search for commercial real estate for your dining establishment in the North End more difficult than it needs to be. Contact Boston City Properties today to get things off to a great start.
Local Dining Scene
Are you looking to open an eatery in the neighborhood? If so, you’re in good company. The city’s Little Italy has long been one of its most popular places to catch a bite. Locals and visitors alike flock to the North End for classic Italian fare ranging from freshly baked cannoli to mouth-watering veal parmigiana. Although Italian fare dominates the local dining scene, you can find offerings from nearly every imaginable cuisine within the North End’s borders.
The majority of the dining options in this one-of-a-kind neighborhood are clustered along Hanover Street and, to a lesser extent, Salem Street. The city’s most iconic dining district features old-world-style trattorias, lively pizzerias and tons of mouth-watering bakeries. Boston may not be known for its coffee scene, but some of its best coffee shops are found here, serving up classics like cappuccino and espresso.
Clocking in at only one square mile in size, the the neighborhood is compact enough to explore on foot with ease. Eateries tend to do well with so much foot traffic – especially during nice weather. By investing in a suitable property in the area, you can develop a new eatery that will give you a fantastic return on your investment in no time.
Many eateries are located on cobblestone streets or along waterfront promenades. Many offer views of iconic sights like the Old North Church and Paul Revere’s house. Food tours are held regularly, ferrying guests from one iconic eatery to the next. The constant hubbub ensures excellent business for practically any dining establishment you can envision.
Whether you’re thinking about opening a deli, a fine Italian dining room or a bakery dishing up tiramisu, cannoli and other beloved treats, the North End is a great place to consider. Naturally, demand is high for the best parcels in the area, especially those zoned for commercial or retail use. With that in mind, make sure to connect with Boston City Properties for access to an array of useful resources, including up-to-the-second online real estate listings. For more information, give us a call today.