Revere Office Space

With a location that's only about five miles from Boston, the city of Revere is a ripe location for any business owner looking to purchase prime commercial space. The city has a high population of 53,157, which means that there is a sizeable pool of customers to tap into for business. Additionally, the town is well known for being a host to more than a few industrial parks and retail/office properties, and since this is an urban area, it's relatively easy to find Class A and Class B offices for sale and rent.

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Neighborhoods in the Area

As a city, Revere has a larger population that lives throughout 11 neighborhoods. As a business owner, it's a good idea to really get to know a town's neighborhoods so that you can find the right place for your commercial space. Each of the neighborhoods has its own business parks, but deciding on which fits your business best will take a bit of due diligence. Here's a listing of the available neighborhoods:

• Proctor Ave / Broadway
• Franklin Park
• Beachmont
• American Legion Hwy
• Point of Pines
• Park Avenue / Washington Avenue
• City Center
• Crescent Beach
• North Shore Rd / Beach Street
• Oak Island
• Lee Burbank Highway

Some of the largest, most urban neighborhoods in town are Franklin Park, American Legion Highway, and Park Avenue, and these may be good locations for the establishment of a commercial space. Of course, your needs will vary, so the other neighborhoods can also work very well for your needs.

Leasing Space for an Office

Are you considering a lease for your commercial space? Leasing has its advantages, and if you're planning on a short-term stay in a commercial space, then this might just be the best type of arrangement for your business. That being said, let's take a look at a few additional benefits:

• Less of an Initial Investment – When you're purchasing your space, you can bet that you'll need to drop a down payment of at least 10 percent. When you lease, on the other hand, the initial buy-in is significantly less, which means that you can save your working capital for other business related needs.
• Maintenance – If you're making a purchase, you'll have to hire building staff either through your own means or via a management company. This can add significant cost on a month-to-month basis, but when you lease, this is left to the landlord. Just remember, before you sign a lease, be 100 percent sure that the building has good maintenance and repair performance.
• Easier Access to Prime Property – If you're thinking to purchase a Class A property, you can expect to have to pay Class A amounts of money. On the other hand, if you decide to lease from a Class A building, you won't be paying nearly as much on a monthly basis. This is specifically useful for small businesses that are dependent on location and image.

Buying Space for an Office

Does leasing sound attractive? Don't count out purchasing your property because, in the larger scheme of things, it has just as many advantages as leasing. Here are a few to consider:

• Monthly Income – With an owned building, you can rent out the units to other business owners. The monthly rent will help you capitalize faster on your property and it will also help you manage costs like maintenance, taxes, and insurance. In fact, with enough rented out offices, you can almost completely subsume the cost of the commercial space for your business.
• Retirement – There is no type of real estate that appreciates faster than commercial real estate, which means that you can create quite the nest egg by selling your property when you're done with it. Also, just renting out your purchased property can provide you steady retirement funding.
• Deductibility – The costs of running a commercial space will provide you with tax deductions derived from mortgage interest and property taxes.
• Steady Costs – With a fixed loan, your monthly running costs should remain fairly steady over the course of the loan.

Listing Office Space

Do you have property in town that you'd like to list for sale or rent? Listing your property can provide you with excellent income, but it's a good idea to select a brokerage to help you with the listing process. Boston City Properties is a brokerage with years of experience and more than a few talented and licensed employees that know how to list a property of this type. Give us a call at 617-247-1933 today.

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