Plainville Office Space

For those looking to open an office in Massachusetts' Norfolk County, you should give the town of Plainville a look. The town is part of both the Boston and Providence metropolitan areas, which means that you can tap into both populations in order to make a good profit. The town has a population of 9,173 people, and with the right commercial space, you can easily open an office in this small town and serve the populace as well as receive business from two large cities.

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Neighborhoods in the Area

When you're considering leasing or purchasing commercial space for an office, a good rule of thumb is that you should scout out the neighborhoods for opportunities. This is a good idea because you'll be able to capitalize on foot traffic and really reach the populations that can most use your services. This town is somewhat on the smaller side of things, and as a result, it doesn't have any smaller neighborhoods.

That being said, you can still capitalize on the market here; the town has a good mixture of white- and blue-collar workers, which means that you should be able to find employees that can excel in an office environment. Additionally, the white-collar workers in this town excel in both sales and office environments.

Leasing Space for an Office

Not every business is going to want to outright purchase the commercial space that will be used for business. From a business perspective, there are a lot of benefits to leasing rather than buying your office space, so let's take a look at a few:

• Leases are Deductible – If you're renting space in a commercial property, you can actually deduct the cost on your taxes. You can even throw in other rental expenses as well, which can really help during tax season.
• Maintenance is Provided – When you purchase a property, you'll have to hire maintainers to ensure that the property is kept up to snuff. When you rent from a landlord, on the other hand, the landlord will typically hire maintainers for the property. In some cases, you'll have to hire janitors for your specific part of the property, but having maintainers on-staff for the building can be very helpful.
• There's Less Commitment – Has an optimal commercial space opened up in another part of town? When this happens, it's a good idea to strike when the iron's hot, and with a leased property, you can move on opportunities as they present themselves.
• No Down Payment – One of the biggest drains in a commercial space purchase is the down payments, which can cost hundreds of thousands of dollars. With a lease, you'll be paying a fraction of that amount, which means that you'll have money for your business needs.

Buying Space for an Office

Despite these clear benefits, purchasing your commercial space can certainly be beneficial as well. One of the biggest draws is the fact that you'll own the space, which means that you'll experience some stability, but there are other benefits as well. Here are a few:

• You'll Build Equity – When you own a commercial property, you can borrow against it. This means that when you use your property's equity in this way, it'll be that much easier to purchase expansions or new buildings altogether.
• You Can Make Extra Cash – This kind of commercial space goes fairly quickly, and when you own your own, you can rent it out for some extra monthly cash flow.
• You Can Build Your Portfolio – When you're renting out space in your commercial property, it is a great way to build up your investment portfolio while simultaneously providing your business an office-based home.
• The Costs are Steady – Financing your purchase through a fixed finance plan makes making a return on the property fairly easy. With leases, rents will increase over time, but if you finance your property right, you won't pay extra, even after years have passed.

Listing Office Space

If you're going to be listing your office real estate for either sale or lease, you're going to have to make considerations based on the market and potential buyers. It isn't very easy to sell or lease this kind of property, but doing so can be very profitable. Both selling and leasing is a great way to fund your retirement, and consulting a brokerage like Boston City Properties can help get you started. Give us a call at 617-247-1933, and we'll help get you started.

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