Wrentham Office Space

Why Leasing and Buying Office Space Is a Great Idea

Known for its convenient location and quiet streets, this town is a good spot for investors. While real estate prices have been growing in recent years, they are still low enough for new investors to enter the marketplace. Right now is a good time to invest in the area since the prices are set to rise in the coming future. Whether you want to buy or lease a space in the area, this town is a good spot for your business to begin its operations.

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Discover the Area

Located within Norfolk County, this town encompasses 22.9 square miles in size. On the southern border, residents will find Plainville and Cumberland, Rhode Island. The community of Bellingham can be found on the southwest. While Foxboro is placed on the eastern border, Franklin is located to the west. Norfolk is located on the northern border of town. Within the center of town, residents will find Lake Archer and Lake Pearl.

During the last year, real estate prices have remained roughly the same. The median sales price declined by just 0.2 percent, so the area's prices are fairly stable. Currently, the median price of a home in the area is at $384,000. The average price per square foot rose from $216 a year ago to $227 today. With stable prices and a convenient location, this real estate market is a good spot for investors, home buyers and business owners.

Leasing Spaces in the City

Before you can start running your business, you need a place for your customers to go. Within this town, there are leases available in different price ranges and areas. Depending on your company's needs, you may want locations close to the downtown area or next to the major thoroughfares. If your office does not need a lot of foot traffic, then you can often find a more affordable space in a Class C structure.

Buying Properties

When you own a property, you are able to build equity in the business. If you need to get a business loan, you have financial leverage and collateral that you can use. In addition, you gain new options for how you earn income. If your property has extra units, you can rent out these spaces to tenants and bring in ongoing rental income.

Many businesses choose to buy the space because it gives them security and flexibility. With a rental, your monthly costs can change whenever the landlord offers you a new contract. The building could be sold, or the landlord may limit the renovations that you can make. When you own the business, you are in control of how you use the property. You are able to get a commercial mortgage that remains the same. From extra tax deductions to financial security, buying a property is a viable option for your company.

Listing Properties for Lease and for Sale

Once you purchase a property, you can begin earning money by renting it out to businesses in the area. This rental income can help cover the cost of your monthly mortgage as you develop equity in the property. Later on, you can always sell your property and get a return on your investment.

Finding the right renters and locating a buyer is not always easy. If you need help navigating the real estate marketplace, call Boston City Properties. Our team of professionals knows what it takes to succeed in this marketplace. To find out how we can help email or contact our team today.

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