Westminster Office Space
Why Leasing and Buying Office Space Is a Great Idea
For your business to become a success, you need the right location. Whether you plan on buying a property or need a simple rental unit, there are options available within this area. Known for its fairly convenient location, this community is home to a growing consumer base. You can quickly access customers and potential employees within the surrounding area. Since property prices are unlikely to stay this low for long, right now is a good time to lease or buy a space in the area.
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Discover the Area
Situated in Worcester County, this community is 37.3 square miles in area. It is bounded by the town of Gardner on the west. To the south side of town, residents will find the city of Princeton. While Hubbardston is placed to the southwest, Ashburnham is located to the north. The towns of Fitchburg and Leominster can be found on the eastern border.
In the last 12 months, the median home price has fallen by 25 percent. The average price per square foot fell from $165 to $154 during the same time frame. Currently, the median sales price for a home in the area is at $254,000. With property prices lower than they have been for a while, right now is a good time for investors to buy properties before the prices increase again.
Leasing Spaces in the City
Within the community, there are Class A, B and C spaces. The option you choose depends on your budget and the types of amenities that you want. The most luxurious options can generally be found in a Class A structure. These properties are often in landmark buildings and high-end properties. They have the latest amenities, high-end finishes and desirable locations. For these added features, they tend to have a higher monthly cost.
For a more affordable option, businesses can check out Class B properties. These are similar to Class A structures, but the buildings may be slightly older or in a slightly less desirable location. For a budget option, Class C properties are sure to please. These tend to have the most flexible leases and lowest prices of the three property classifications, so they are a popular choice among start-up companies and new businesses.
No matter what you are looking for, there are options available in the area. Before you start your property search, figure out the budget and amenities that you need. Depending on your business, the location may be the most important aspect of the property. Companies that rely on vehicle and foot traffic will need a location that is close to major roadways and downtown areas. Once you know what type of features you need in a property, you can begin your search.
Buying Properties
By buying a property, you can save your business money over the long run. When you own the complex, you only have to pay for the maintenance, property taxes and commercial mortgage. Some of these expenses can be defrayed by renting out extra units in the building. In addition, you can deduct some of the costs from your taxes. As your business continues to grow, you will gain equity in the building and get added financial leverage.
In addition to other benefits, buying a property also gives you the chance to secure a stable future for your business. Landlords can always increase rent when you renew the contract. If you own the property, you are able to secure a stable mortgage payment that remains the same over the years.
Listing Properties for Lease and for Sale
Navigating the marketplace is not always simple, but Boston City Properties can help. Our team of real estate professionals know just what it takes to attract renters and buyers to your complex. Whether you need to list your property for lease or for sale, our staff members can speed up the process. To find out how we can help with your investment, call or email Boston City Properties today.
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