Norwood Office Space

If you are looking for a town that is benefiting from the growth of Boston as a location for your business, then Norwood, Massachusetts, is a great area to consider. It is only 23 miles from Boston, and it is easy to reach by major highways as well as three stations on the MBTA commuter rail. In fact, public transportation is heavily used here, so finding your office should be easy. This is a town of professionals, so if you are looking for office workers and administrative support for your business, the residents here can be a great addition to your team.

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Neighborhoods in the Area

This is an area of the state that is divided into six constituent neighborhoods, which are:

• Normandy Drive – This is an area of town that is populated by a lot of urban sophisticates, which means that if you find a niche that fits in this community, your business is sure to succeed.
• Providence Highway – This is an area where 35 percent of the residents are employed in office positions, which means the workforce options in this neighborhood will be plentiful.
• Winslows – This neighborhood has a lot of buildings that were built between 1940 and 1969, which means that you will find a lot of Class B options in this area.
• Walpole Street – This neighborhood is a little more built up because of its location. The hospital and one of the main train stations can be found here.
• Engamore Lane – This is a neighborhood that is great for businesses because Route 1A runs right down the center of the area.
• Town Center – This is the main part of town, so it is going to be a great place for a new business to call home. In fact, there are quite a few Class B real estate options in the area to consider.

Leasing Space for an Office

Leasing space for an office in this area is a great option for a business that is just trying to get its feet off of the ground. You may not be able to build equity or your portfolio by leasing space, but you will be able to have some benefits by choosing this option for your business. When you lease property, you can find a space in a better location with a price that is roughly the same for rent as it would be for your mortgage is a different area of town.

When you don't need to worry about things like maintenance, repairs, and upgrading the space, you will have more time for yourself, which means that you will be able to have more time to focus on the needs of your business and how to get more customers to your location. In addition, the initial investment that you are going to need when you lease a space is far less than it would be if you rented it.

Buying Space for an Office

Even though you are going to need to put 10 to 30 percent down when you purchase a space for your business, you will find that the fixed mortgage rate that you experience with this option can help you manage maintenance and repair costs without tapping into your mortgage. In addition, when you own a dedicated business space, the costs of running and owning the space are tax deductible.

If you find that the space that you purchased is too large for your needs, you can always rent out some of the space in your office. This provides you with additional income, and it also can help pay the bills more quickly, which can help you profit from the investment and save for your retirement.

Listing Office Space

Office space is something that you need to run a business that looks professional, but when you outgrow the space that you are using, listing the property and finding something that better accommodates your needs is only going to be beneficial. Decide if you want to sell or lease the space that you currently own, and then connect with a professional real estate agent at Boston City Properties so that we can help you during the process of listing your space. Sales are not always clear-cut, so it may be more profitable for you to maintain the property and lease it out to another local business. Regardless, call us today at 617-247-1933 so that we can help.

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