Wayland Office Space

Why Leasing and Buying Office Space Is a Great Idea

If you want your business to succeed, your customers need a place to go. With a strong real estate market in the area, this town is a good choice for starting a new business. You can buy a property and gain equity or lease a unit. Whatever you are looking for, you can find it within the surrounding neighborhood.

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Discover the Area

Placed within Middlesex County, this community spans 15.9 square miles in size. It is bounded by the communities of Weston, Natick, Lincoln, Framingham and Sudbury. By road, it is located only 20.2 square miles away from Boston and 52.5 miles away from Providence, Rhode Island.

In the last 12 months, the median price for a home has increased by 21 percent. The average price per square foot is presently at $360, which is $50 higher than last year. For the median home, residents can expect to pay $736,000 right now.

Leasing Spaces in the City

One easy option for investors is to lease a space in the community. These buildings are classified as Class A, Class B and Class C types. A Class A space offers the best amenities and location. It may be in a new structure or a landmark building. Because of the better amenities and more desirable location, it tends to cost more.

Mid-range spaces can be found in a Class B property. These have a more affordable price, but the location might not be quite as good. It might also be an older property. Because of these factors, these units tend to have more flexible leasing options. For a budget option, check out a Class C space. These units are generally in a less desirable location, but they work well for start-up companies or businesses that do not need the foot traffic.

Each property may come with different amenities and prices. The most budget-friendly options can be found in co-working spaces and shared business workplaces. At the more luxurious versions of these spaces, businesses can get amenities like a receptionist and furnished offices. Depending on the property, businesses can find amenities like conference rooms or mail delivery. Some units may also include the cost of utilities in the lease's price.

Buying Properties

For a long-term option, businesses can also buy a property. This option is ideal for companies that want to avoid sudden rent increases. In addition, buying a complex or a space allows you to gain equity in the property. If you lease out additional units, you can earn passive income from your investment. In general, commercial mortgages are cheaper than leasing a space. It may also let you deduct property taxes, depreciation and your mortgage's interest from your taxes.

Buying a property allows you to gain equity. It protects your company from increases in rent. In desirable neighborhoods, the rental prices often increase significantly over time. If you own the complex, then your business is protected from these increases. As property values rise, you are able to gain financial leverage from your investment. If you plan on owning and running your business over the long run, then buying a property helps you achieve lasting stability for your business. You are able to gain equity over time and have a long-lasting storefront for your clients to go to.

Listing Properties for Lease and for Sale

Whether you have a commercial property for lease or for sale, Boston City Properties can help you. If you want to earn a passive income from your business, you can lease out additional spaces and earn money. With such a desirable neighborhood, leasing out business space is always a top option for investors. You can also choose to lease out additional spaces in your complex to cover your company's overhead as you run your business.

Sometimes, it makes more sense to sell the property. If you do not want to do ongoing repairs and maintenance work, selling a complex allows you to get an upfront payment for your investment. You are able to release your liability in the property and sell it for a profit. With a growing real estate market, right now is an excellent time to sell a business. If you need help listing your property, call Boston City Properties today. We can help you make the most of your investment.

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