Roxbury Retail Space - For Rent & Sale
Typical Properties
This neighborhood has a fairly high urban density, which means that the vast majority of buildings have multiple stories. This doesn’t preclude low-slung structures, but they are not as common as the closely spaced brick and masonry construction buildings that line most of the major boulevards in the area.
The structures located on the 1500 block of Tremont Street are excellent examples of what investors will typically find in this area. A series of three story buildings are arranged in a row-like formation. Each building has a ground floor retail space that looks out on a sidewalk; across the street, a park with numerous trees provides a natural respite from the concrete and asphalt. Some of the buildings date from 1899; the property at 1520-1522 Tremont Street is one such structure. With 4,730 square feet of leasable area, the building has a ground floor retail suite much like its neighbors. This suite features large storefront display windows that are framed by beautiful period ornamentation. A series of vivid white lines are etched into the black horizontal columns, while a large white board with a tan border provides room for customized business signage. The front door is oak with a square panel of glass. Above the door, a gorgeously lettered sign on a glass panel lists the street address in an old-fashioned font. The elegant craft of the building creates a sense of both stability, due to its long historical lineage, and a sense of serenity, due to the artful incorporation of handcrafted materials and the nearby park. All of the buildings on this street have taken pains to try and create a collective aesthetic; extensive restoration has created a street of bright, welcoming facades. Tremont Street also benefits from the fact that it is close to two subway stops, making it highly accessible to shoppers.
Click Here to Search
Retail Space
However, while the area is steeped in history, it is also a site for new developments. The 2000 block of Washington Street is trying to replicate some of the design features of Tremont Street by creating multi-story buildings that are close to a park yet also near public transit and heavily trafficked streets. The property at 2083-2089 Washington Street is expected to complete construction in 2020. With four floors including a mezzanine, the structure has a large potentially contiguous retail suite on the ground floor with floor to ceiling glass windows that are sheltered by a slight overhang from the stories above. When complete, the structure will have a total of 59,000 square feet of leasable area, with a maximum contiguous space of 44,250 square feet. Located essentially on top of the Melnea Cass Boulevard Outbound Transit Stop, the structure combines high accessibility, build-to-suit options, and a feeling of comfort and spaciousness. Currently, this block features several other large historic buildings of the same multi-story type, along with a few smaller brick buildings that create more a boutique element. Located across from Ramsay Park, this corridor resembles the mixture of commercial suites and publicly accessible green space of Tremont Street. Washington Street also forms one of the major boundaries of Dudley Square.
Average Renting and Buying Prices
Because this neighborhood is considered to be a part of Boston, it’s difficult to find a space to lease that is less than $1.00 per square foot per month. However, the area is not known for its especially high rents, either. Generally speaking, no spaces in this neighborhood are likely to lease for more than $3.00 per square foot per month. Depending on the area and specific type of structure, the price range for buying property stretches from as little as $96 per square foot to over $500 per square foot.
With a lease price of $2.08 per square foot per month for the suites at 1520-1522 Tremont Street, this building is on the upper end of the mid-range for this area. The terms of the lease are triple net, with a 3-10 years lease term. Meanwhile, the property at 47 Langdon Street is toward the lower end of the scale. Unlike the multi-story property at Tremont Street, the 4,000 square foot single story structure at Langdon Street is located on a semi-residential street that features historic multi-story brick buildings and a less trafficked route. Built in 1950, the structure has numerous potential uses, from an auto body shop to a brewery to a gym or personal training area. Two neighboring businesses include a hard cider brewery and a liquor distillery. The property is located relatively close to Dudley Square, which will likely be the focus of extensive redevelopment in the near future. Within close distance of Clifford Playground and the Newmarket Train Station, this freestanding property has a rent of $1.25 per square foot per month.
In terms of buying properties, the value of commercially zoned land here is high. A 0.16 acre parcel with a 4,101 square foot bank property on it was listed for sale at $2,200,000. Located at 60 Newmarket Square, this property was originally built in 1958 and has two stories. Perfect for use as a bank, but not against creative repurposing, this property is 0.5 miles from the Melnea Cass Boulevard Inbound Transit Stop, and 0.8 miles from the Red Line at Andrew Station. The price for this highly accessible structure is $536.45 per square foot.
The market does have a range. The property at 2-10 Clifford Street is ideal for redevelopment or innovative tenancy. Technically classified as an industrial property, the 17,606 square foot structure is sited on 0.54 acres of land near Dudley Square; in fact, it is only 0.6 miles from the Dudley Square Station, and 0.9 miles from the Melnea Cass Boulevard Outbound Transit Stop. Built in 1900, the one story structure features twelve to fourteen foot high ceilings, along with a working garage bay and an exterior yard for the storage of scrap materials. The brick exterior looks out on a street lined with other historic buildings, creating an opportunity for a tight-knit repurposed street. A paved lot is onsite, and the interior features vast amounts of open plan space. This property has been listed for $1,699,000, or $96.50 per square foot.
Real Estate News
Once one of Boston’s most visited business centers, second only to downtown itself, Dudley Square is getting ready to reclaim its title. Located at the intersection of Washington Street and Dudley Street, Dudley Square is geographically the center of the city of Boston. The area’s primary transit is provided by the MBTA Silver bus line. The historic Bruce C. Bolling Municipal Building has been recently renovated, and the area has approved several new mixed-use projects, including a 300,000 square foot building on Washington Street, and a 135 room hotel and residential apartment structure with 8,000 square feet of commercial suites near the Melnea Cass transit stop. The Boston Public Library has also renovated its Dudley branch. The $14.7 million library will contain 27,000 square feet of light, airy interiors with tables and state of the art technology.
The area is part of what is known as PLAN: Dudley Square, a multi-phase community based organization process that hopes to select proposed uses for existing structures, as well as new developments altogether. The idea is to solicit feedback from current residents to create a plan that serves all members of the community, as well as creating a profitable commercial center. The plan will achieve this by identifying the best available parcels for development, and then proposing specific uses. Some of the parcels that have been identified as being ideal for commercial development are the Bartlett Yard, 75-81 Dudley Street, Roxbury Street Parcel B, Roxbury Street Parcel A, 2147-2163 Washington Street, Dudley Street Commercial, 40-50 Warren Street, Blair Lot, Parcel 8, Parcel 10, Parcel 9, and Archer-Bonel.
One of the newly proposed structures includes the creation of a 25 story tower with 28,282 square feet of commercial suites that would be sited across from the Bolling Municipal Building. A 7,800 square foot suite at the corner of Warren and Washington Streets has received numerous proposals for transformation, including a performance area, a cafe or restaurant, or similar communal meeting area that would foster communication and a sense of community.
While still in the very early stages, this proposed development of Dudley Square offers much to potential investors. This is partly because the area is already arranged to facilitate commerce. Investors essentially only need to bring ideas that have already worked in other areas of the city to the table, creating a new hub for business and other commercial ventures. Much like the rest of the neighborhood, Dudley Square is occupied by three to four story buildings that feature ample storefront units on the ground floor and offices/residences in the upper storeys. The relative low prices to both rent and buy in this area make it particularly attractive to developers who want to gain a considerable profit from their initial investment.
With over six public parks and numerous cross streets, including Waverly Street, Clifford Street, Woodbine Street, Edgewood Street, Maywood Street, Savin Street, Quincy Street, Holborn Street, and Gaston Street, the area is large enough to support a number of innovative new developments while preserving a pleasing urban density.
Sign Up Benefits
Finding the right property at the right time for the right price is one of the best experiences in life, but it is never a particularly easy one, especially when an investor or entrepreneur attempts to search an area without expert guidance. What listings are current? What listings offer more than the brief description and single photo would seem to indicate?
By signing up with our company, someone who is seeking the perfect location will be able to peruse not only real-time listings, but special properties that may have not yet made the publicly viewable listings. More importantly, years of working with property owners and developers has allowed our company to create long term relationships that someone new to the market simply does not have. We work with our partners to match properties with the ideal tenants and new owners. Whatever specific configuration an investor may be seeking, we will be able to quickly find a suite that suits those individual needs.
Our service is tailored to help create opportunities, as well. In many cases, a particular property may be listed in a certain way, but may actually be open to different development scenarios. For example, our relationships enable us to transform what appears to be an industrial building into a hot new build-to-suit suite for an innovative retailer. We know all the latest information on what’s happening on Washington Street, the likelihood that publicly chosen parcels from the PLAN will be classified as either commercial or residential space, and the best places to launch a new business in the neighborhood.
In the coming years, we anticipate a slew of new opportunities in and around Dudley Square. The close-knit nature of the community, combined with our understanding of how to find configurable, tailored suites, makes our service invaluable. Any investor who wishes to use their time to secure great new locations in Roxbury will benefit from signing up for our service.
Additionally, once we get to know our clients who have signed up for our service, we are able to send out customized bulletins full of specifically chosen properties for that client that likely haven’t even made the public listings. Our members benefit from getting information ahead of others who are searching the same market. Much as we have spent years carefully developing and nourishing relationships with property owners in the area, we also spend time getting to know our members. We offer specific, timely, and desirable listings based on the preferences of each of our clients.
Whether an investor is seeking a boutique clothing suite or a massive, open plan unit that is ready to stock thousands of items, we can help that investor quickly identify properties and arrange for custom viewings. Our relationship with the local community has enabled us to arrange viewings at a time that is convenient to our clients. We are responsive, flexible, and knowledgeable. Sign up today to start viewing properties!
Click Here to Search
Retail Space