Wareham Office Space

Why Leasing and Buying Office Space Is a Great Idea

When you want your business to succeed, you need a place for customers to go. With a growing consumer base, this area is a top spot for buying or leasing properties. Business owners can buy a storefront to start gaining equity and lease out extra units. Companies with a lower budget can lease space while they grow their business.

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Discover the Area

Situated within Plymouth County, this community is only 18 miles east of New Bedford. The town is placed 55 miles away from Boston and 45 miles away from Providence, Rhode Island. It is bounded by Marion on the southwest and Bourne on the east. While Rochester makes up the western border, Middleborough forms the northwestern side of town. Meanwhile, Plymouth and Carver can be found to the north. This community is placed just west of Cape Cod. Within the community, residents will find smaller neighborhoods like East Wareham, Wareham Center, Onset, Weweantic and West Wareham.

The median price for a home in the area is currently at $250,000. In the last year, median prices have advanced by 19 percent. The average price per square foot is currently at $201. With prices starting to rise, now is a good time to invest in the community.

Leasing Spaces in the City

Within this area, there are a number of options available for lease. Residents can find Class A, Class B and Class C offices. Class A is the best quality, but it also comes with a higher price. These units may include top infrastructures, the best amenities and excellent locations. With a Class B property, you can enjoy a lower price. These properties may have flexible leases because they tend to be in older buildings or a less desirable location. In a Class C property, you will find the cheapest leases. These are typically in less desirable spots, so they are better for businesses that need a lower price. If you do not need foot traffic, then these spaces are a good option.

The overall price will be based on the location, the amenities and the classification of the space. For a lower price, businesses can look into co-working spaces and shared business spaces. These spaces are ideal for small companies and new businesses that need a flexible lease at a low price. In this type of space, the office furniture and equipment is generally set up already. Some of the shared business workplaces also offer amenities like a receptionist, mail delivery and package receiving.

Each property offers different features and amenities. Some units cover the cost of utilities, and other units require the tenant to pay these costs. At some facilities, the lease includes access to amenities like a conference room or kitchen area. In general, a property will cost more if it has better amenities, a larger space or a more desirable location.

Buying Properties

Within this area, there are a number of properties available for sale. Companies will often buy a property because of the tax benefits and stability. Once you purchase a space, you are able to pay a commercial mortgage instead of rent. Since rental prices can always increase in the future, this is a desirable alternative.

When you purchase a commercial building, you can start gaining equity in the property. You can often deduct property taxes, depreciation and your mortgage income each year. If the space is large enough, you can rent out additional units and earn money. Your renters can cover the cost of the commercial mortgage and lower your overhead costs.

If you plan on running your business for years, a commercial mortgage is often a good choice. It gives you lasting stability without the worry of sudden rent increases. Plus, you can earn extra income from tenants and deduct some of your operating costs from your taxes.

Listing Properties for Lease and for Sale

With a growing real estate market in Massachusetts, top properties are starting to get a good price when they are listed for sale or for lease. If you have a commercial property, you can rent it out to tenants and create an income stream. You can also sell the complex and get an immediate payout.

Through leasing your property, you can recover the costs of owning the building while gaining added income. If you are ready to retire or want to buy a different property, selling the complex is also an excellent option. If you are looking to list your property, Boston City Properties can help. Contact us today to find out how we can help you sell or lease your complex.

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