North Reading Office Space

With two distinct neighborhoods, North Reading, Massachusetts, is an excellent town to consider purchasing a space for your office, especially considering that it's only about 17 miles from the city of Boston. The town has a population of 15,646, which means that it has a sizeable populace to tap for your business needs. Combine this with the fact that it falls into the Boston Metro area, and you'll start to realize that the town definitely has some possibilities for anyone looking to establish an office in the area.

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Neighborhoods in the Area

As a small town, North Reading only has two neighborhoods. That being said, each of these neighborhoods, which rest at the west and east parts of town, are very viable for an office. Here are the two neighborhoods:

• Town Center
• West Village

For those looking for a new place to expand, the town center neighborhood can certainly help you tap into potential foot traffic, but if your business isn't dependent on this type of clientele, then both areas are easy to access via car or even mass transit. In fact, both neighborhoods make for an easy commute to and from Boston, so if your business requires clients to visit from other areas, this town's neighborhoods can both be very well-suited for this type of business.

Leasing Space for an Office

When you're seeking out some space for your office, you'll be presented with two distinct options: leasing or buying the space. Both of these options provide some excellent benefits, but for the purposes of this section, let's take a look at some of the benefits of leasing:

• Leases are Easier – When you're a business owner, you'll need to be able to move with the market. When you're just leasing, this means that you can quickly cancel your lease so that you can move to a more profitable neighborhood. It's natural for a business like yours to outgrow its space, and a lease makes this a simple process to deal with.
• Not as Large an Initial Investment – If you're thinking about purchasing your space, then it's important to understand that while you may have great financing terms, you'll definitely have to pay a down payment. Usually, a down payment on a space of this type will require anywhere between 10 and 30 percent of the property's value. With a lease, you'll have to pay far less; in fact, typically, you can expect to pay only a security deposit. This frees up your capital for other business needs.
• Maintenance and Repairs are Managed by a Landlord – In most cases, maintenance and repairs are typically taken care of by the landlord, so your office will always look nice for potential clients. Even things like remodeling are typically taken care of.

Buying Space for an Office

Want a more stable situation for your business? If this sounds like you, then you should consider a purchase rather than a rental. These types of arrangements are usually fairly convenient for the purchaser. Here are a few benefits:

• Fixed Payback – When you purchase your space, you can get a fixed rate for your financing plan. This way, you'll be paying back at a steady rate, and since this rate isn't affected by inflation, it has a tendency to get progressively easier to pay back over time. When you lease, you can always get caught by rent increases, but purchases don't have this problem.
• Retirement – Once it's time to retire, you can either opt to lease or outright sell your property, which can easily either provide you with a nice nest egg or provide month-to-month income. Also, since property at this stage tends to be capitalized, you can typically make quite a profit.
• Income – You don't always have to wait for retirement to capitalize off of your purchased space. If you have extra space or extra office units, you can lease these to small business owners so that you can make steady cash flow. This money can be used to pay for various utilities, tax, insurance, or you can even use the cash flow to help increase your capitalization rate.

Listing Office Space

Do you possess commercial space that you'd like to lease or sell? Fortunately, this type of space is often in demand; you'll just have to find your potential tenants. This is where a dedicated brokerage like Boston City Properties can come in handy. We have years of experience and have an extensive list of potential renters that may be interested in your space in this town. Give us a call at 617-247-1933, and we'll help you either sell or lease your space.

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