Westport Office Space
Why Leasing and Buying Office Space Is a Great Idea
Re-imagine the potential for your business within this thriving community. Placed in an ideal location, this town is a top spot for investors and business owners. Its proximity to Boston and other cities make it easier to attract potential clients and customers. For your business to succeed, it needs the right location. By buying or leasing a property in this area, you can get your business off to the right start.
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Discover the Area
Placed within Bristol County, this community includes the village of North Westport. There are neighborhoods within the town like the Head of Westport, Central Village, Westport Harbor, Westport Point and Acoaxet. Spanning 64.4 square miles in size, this community has an impressive 14.3 square miles of water within its borders.
This town is bordered by Fall River on the west and northwest. Tiverton and Little Compton form the western border. While Dartmouth is found on the eastern side of town, Buzzards Bay is located to the south. From the community, residents can reach Boston 60 miles away. The town is only 30 miles away from Providence, Rhode Island.
Right now, the median home sells for $296,000. This is a decline of 12 percent from last year, so right now is a good time for investors to buy real estate in the town's marketplace. During the same time period, the average price per square foot rose from $198 to $209.
Leasing Spaces in the City
Within this area, there are many different properties available for lease. The type of property you choose depends on the location and amenities that you need. In general, the best locations tend to cost more. Likewise, a property that is newer or boasts of better amenities tends to fetch a higher price. If you do not need the foot traffic, you can find a budget-friendly option away from the main roadways and downtown area.
Buying Properties
While leasing is a popular option, some businesses choose to buy a complex instead. If you have the budget for it, buying a property can be an excellent long-term investment strategy. When you own the property, your mortgage payments help you to earn equity in it. In addition, you are able to deduct some of the costs from your taxes. If you need to get a business loan, you now have collateral and financial leverage to do so.
When you need to earn extra money, your new property can help. You can lease out additional units in the property and earn a passive income from them. If you decide to close your business in the future, you can still earn money by leasing or selling the property. When you are the owner, you can enjoy having a stable mortgage cost without having to worry about the rental price increasing.
Listing Properties for Lease and for Sale
Once you own a property, you are able to use it for developing income. Over time, your mortgage payments help you to gain equity in the complex. When you decide to sell the property, you get some of that equity back. If the property has risen in value, you also gain added profits from your investment. While you can choose to rent or sell your complex, many businesses choose to sell when the real estate market is growing like it is right now. They can quickly get a lump-sum payment from their initial investment and release their liability in the complex.
You also have the option of gaining a passive income stream from renting the complex out. Many businesses are looking for rentals in the area, so there is a ready audience for new rental properties. Whether you want to rent or sell your property, Boston City Properties is here to help. Our team of real estate professionals can help you list the property and find a buyer. To find out how we can help your listing out, call or email us today.
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