Avon, MA Commercial Real Estate for Sale and Lease
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What to Expect
Located about 17 miles south of Boston, this lovely Norfolk County town had a population of around 4,400 at the time of the 2010 U.S. Census. Commercial space here is somewhat limited, but you can quickly see whatever is available by accessing our searchable database. Whether you're buying or leasing industrial, retail or office space, we have you covered.
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Should You Invest in Avon Commercial Real Estate Properties?
It is no secret that real estate investment will always be in, particularly for those who are searching for additional cash flow. Commercial real estate has continuously been an attractive investment whether the market is up or down.
The record volume of institutional and private capital that flows into both multifamily and commercial real estate market is proof that it is appealing to investors at all times. In fact, the commercial real estate sales reached more than $500 billion in 2017 in the US alone. If you are among the investors looking for a haven to put some capital and generate positive returns, this town may be a great option for you.
In this area, you can find office and retail spaces where you can start your business so that you can grow it while capturing more customers than other nearby parts of Boston. It is where you can find commercial real estate properties that you can purchase at an affordable price so that you can either sell them or put them up for a lease.
With the right strategy in investing in commercial space, it is highly likely that you will get attractive returns. In fact, it is one of the main reasons why private and institutional investors pursue such an investment. There are also other benefits when investing in the right commercial space in this area, including appreciation, stability, and portfolio diversity.
Aside from that, cash flow is guaranteed because it can deliver a steady stream of income with dividends distributed to the investors on a monthly or yearly basis. Equity upside can also be achieved when you invest in commercial real estate in this town, particularly if you choose equity investments. As an investor, you have the opportunity to boost your total returns by means of cashing in on property appreciation. Another method is through a capital gain once the asset is sold.
In this case, you should know which neighborhoods in this town in Norfolk County have the highest appreciation values. Currently, it is a great time for buyers, especially because appreciation has increased to almost seven percent over the last 12 months.
The median home sales price in the city is $18,500, which is up six percent from last year. The average price is up from $213 to $232 per square foot. This trend will possibly continue for in 2018 and may increase at least four percent. As for rentals, the median rent is just $900 for every room, which is a little bit pricey but still not as expensive as the other areas in Boston.
About Avon MA Office Space
For office spaces in this town, you will find some limited choices because most of the spaces for rent or sale are for industrial use. Nevertheless, most of the warehouse type properties can be transformed into an office, especially for clinics, law offices, and the like.
An example is the office space at 1 Kiddie Drive, which is actually an industrial property for lease. One of the best things about an industrial space is that it is less expensive than a real office space. For this particular unit, it is only $5 per square foot per year. Built in 1979, the whole building area that can be rented totals 127,000 square feet.
It is a relet space type with an available space of 40,000 square feet for office. The building comes with eight doors for docking or loading. The lease term is negotiable, which makes it ideal for those who are still starting their investment endeavors in the city.
This particular industrial property for lease is a high profile type of real estate that already comes with 300 parking spaces off the street. It is mainly recommended for warehousing or manufacturing purposes but can also be transformed into an office space, specifically the adjacent space in the area. There is a high-density corridor for retail shops on Route 24, which can help you draw in more customers for your business.
As mentioned, the space is 127,000 square feet, which can be divided into different parts and areas. The location is great for startups because it is just across the highway from Jordan’s Furniture and Ikea. It is also not so far away from the commuter train. There is a robust retail neighborhood in the area as well, which includes Home Depot, Costco, Petco, T-Mobile, Staples, and the New Balance Factory.
There is a property manager onsite, so you can ask questions or assistance whenever you need it. Other utilities include city water, natural gas, heating, and a septic field sewer.
Another option is at 275 Bodwell Street, which is also an industrial space that includes an office space. It is quite huge since it occupies 50,000 rentable square feet of space. It can be a good investment for you because of its ideal location just 3.5 miles from I-93 on Route 24 and Route 128.
One more commercial space that you can use as an office room is at 80 Stockwell Drive. It is up for lease and there is one space available, although the rental price is not disclosed. You may have to contact the agent or the landlord to know about the cost of the monthly rent of this 2.98-acre building. This site is perfect for distribution, but you can convert it into an office space, particularly the 50,000 square feet of space from the 130,000 square feet available.
Everything is almost negotiable with this property from the service type to the lease term to its availability. Tenants are allowed to accept other renters if they wish to get help in the monthly rent. The whole property is fenced and comes with sewer and gas.
Meanwhile, transportation is not a problem in this area as the Stoughton Commuter Rail is just a nine-minute drive from the site. The Montello Commuter Rail is 10 minutes away, while the Logan International Airport is just 27 minutes from the area.
To invest in office space in this town, you have to consider several factors, including the right location of the site. On average, it is estimated that the average annual return for office property investment is 10.3% according to the National Council of Real Estate Investment Fiduciaries.
Once you have found the best choice for your office space, you will find that there is a spectrum of opportunities in various investment strategies. Office spaces in this town, just like in other areas, have at least 75% of the interior designed and set to be used as a place for an organization or staff.
If this is the first time that you will invest in office space in the city, you will discover that there are grades for the properties, which are class A, B, and C. These classifications are based on criteria, including rent, amenities, quality, location, and age among others.
If you invest in offices in this town, you have to understand that there are demand drivers that will influence the rental rate, its growth, construction, and occupancies. The most important demand driver of all is the job that you can offer. Traditionally, it is common to see the relationship between positive absorption of the space and employment growth. In this case, if you will make office spaces as your primary investment, you should also be able to create jobs.
It is also possible to look for other companies that are expanding since they will be seeking more space so that they can accommodate the new workers. If you buy a space and intend to rent it out, you should consider the fact that most of the employers are sensitive to cost, so you should try to make it more affordable for them.
About Avon MA Retail Space
This town is just 17 miles south of the city of Boston. Unfortunately, retail space is limited in the area but every few weeks, some available spaces are either for sale or for rent. At 20 Strafello Drive, multiple spaces are up for lease.
The building area that can be rented totals 35,000 square feet in this B-class building. It can be divided into 144 square feet so that you can have plenty of retail spaces. Right now, there are two available spaces for rent, which are both on the first floor of the building. The rent includes the utilities while the lease term is only for one year. The space available is 144 square feet but can be adjusted to 1,000 square feet.
The other unit that can be rented is much bigger with 250 square feet at least and can be expanded to 3,000 square feet of space. This area is used for manufacturing and distribution with one dock high door. The landlord can build a single office while the tenant is allowed to lease the extra 5,000 square feet, which can be used as warehouse space. It has a ceiling height of 18 feet.
This particular commercial property is a functional warehouse that is clean and secure, thanks to the 24-hour video surveillance. Although it is originally intended for warehouse storage, it can also be used as retail space because of the cost-effective and practical space. Since the units are located on the first floor of the building, they provide easy access to the offices, restrooms, and open areas, along with the parking space in the area.
It is an industrial park conveniently situated at Exit 19 right off Route 24. It is just 20 miles south of the city of Boston and 27 miles NE of Providence in Rhode Island. This park offers great access to the highway and it has expanded as it employed more than 3,600 people for a variety of jobs.
When you lease retail space in this town, you should know that there are factors that can impact our monthly rent payment. One of the biggest factors is the location. If you choose an area that has high traffic and visibility, it will have a much higher cost than those that do not have high foot traffic.
There is strong demand in commercial or retail space in the city, so you may find it difficult to land the spot that you want. If you are already eyeing a location in this town, make sure that it is convenient for other people. Although they can be your competition, you should go for an area with other shops around. It is also wise to choose a site with ample parking space, along with other amenities. Of course, these things can increase the cost of the lease.
2017 Commercial Real Estate News
Just recently, there is a warehouse that has been around for more than 40 years and it was looking for investors. These people would have no control over it, including how it would operate and when it could get sold. There were 12 investors who gambled on this warehouse. They pooled together approximately $250,000, which allowed them to join an investment group.
After joining, these investors were able to buy the warehouse for $14.3 million. This technique known as crowdfunding is quite known all over town and is now getting more attention from investors in other areas. It is mostly associated with investors and tech startups in which these people would broadcast their appeal to get donations from other individuals who are willing to give them a few bucks or even thousands of dollars.
After the Congress passed the Jumpstart Our Business Startups Act in 2012, about 80 companies have been trying to help with real estate investing. One of the investors who were a part of the crowdfunding for that warehouse in this town said that real estate is now opening up to retail investors who used to find it difficult to afford large investments.
Commercial real estate in this area, as well as in nearby parts of Boston, can see how commercial real estate has produced sturdy returns. It is expected that it will continue to expand for the coming years.
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