Bellingham, MA Commercial Real Estate for Sale and Lease
Are you looking for commercial real estate in Bellingham, MA? Boston City Properties has you covered with our extensive, searchable online real estate database, which includes up-to-the-minute listings for commercial properties for sale and lease in this bustling town. We also have a team of experts who can assist you further in your search when you're ready.
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What to Expect
This Norfolk County town has a population of around 16,300 and is about 30 miles southwest of Boston. Like many towns of this size, it has somewhat limited commercial real estate offerings. The easiest way to determine what's available is by searching our constantly updated real estate listings.
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Founded in 1713, this town is a charming and quaint satellite of Boston. It belongs to the Boston-Cambridge and Quincy metropolitan area, which means it’s plugged into the strong and vibrant economy that unites all three distinct cities. This town is noted for its historical attributions and its modern conveniences. The population here was cited at just over 16,330 in 2010, and there are new people moving in each day for jobs in Boston and elsewhere. The town is located on the southwestern part of the Boston Metropolitan area. It is named after Sir Richard Bellingham, who was the third governor of the Massachusetts Bay Colony. The town is convenienced by Route 495, which is one of the region’s busiest highways.
Bellingham Commercial Investment Properties
Both picturesque and charming and situated with prime access to some of the region’s busiest transportation hubs, this town offers superior opportunities for commercial enterprises. One of its best assets is the fact that it is situated right next to Route 495, which is one of the premier transportation centers in the region. This major transportation artery had nearly 50,000 SF of space available in the fourth quarter of 2017 for commercial use. Furthermore, the so-called “outer belt” along Route 495 continues to expand, which means that businesses and corporations moving to the area will enjoy a prime opportunity to attract the ever-expanding resident and transient populations. The potential for commercial investment and development is better in this town than ever before, as a combination of a strong regional economy, historic charm, and easy access to premier transportation centers make the city a welcoming and sustainable place to live and conduct business. A nice combination of retail offices, warehouse-suitable buildings and retail spaces open for use by restaurants, banks, clothing shops and other patron-friendly establishments make the town a holistically beneficial place to live, work, and conduct business. In turn, that makes it an investor-friendly place that’s worth getting involved in now. Route 495 is proving to be a hot spot for commercial centers, which in turn makes it an appealing site for investors to consider financing companies. The trend in the Greater Boston area for consumer products and ecommerce continues to pave the way for companies in the warehousing and manufacturing sectors, who see the area’s vacant warehouse and industrial buildings and affordable rates as key markers for setting up shop. Furthermore, companies realize they will benefit from the proximity of major transportation areas. In the fourth quarter of 2017, there was over 40,000 SF of space available for sale and lease for commercial clients along the north and western corridors of Route 495. There was also 3,221,024 SF of space open in commercial buildings along the southern stretch of Route 495. Vacancy rates were 25 percent, 20 percent, and 22.7 percent for the north, west, and south sections of Route 495, respectively.
Bellingham Office Space Market
In this town, average home prices are about $281,000. The health of the residential market means that more people will be drawn to the area for housing, especially those people who work in Boston and want a place to live outside of the city with a convenient commute to work. The availability and appeal of residential real estate in this Boston suburb naturally inspires the commercial real estate market, which is growing and expanding alongside the residential market. Commercial entities looking to set up shop here will find that there is a mix of commercial spaces available that are suitable for a variety of uses. In keeping with the historic and modern traditions of Boston, there is a considerable demand for healthcare facilities and related businesses such as dentists and physical therapy. This demand is providing a favorable market for commercial entities in the healthcare and pharmaceutical trades, who can find single office spaces, multiple office spaces and entire buildings for sale in these specialized categories. As an added benefit, some spaces are handicap accessible and have coveted features like private parking, elevators, and sidewalks for easy access. Those looking for commercial properties can find an array of building and lot sizes.
Space available ranges from about 2,000 SF to over 5,000 SF for small-scale commercial entities, such as medical practices, and it can easily exceed over 24,000 SF for larger businesses. Like many areas around Boston, the trend in commercial real estate here in recent years has gravitated towards repurposing, renovating, and reusing once active warehouses, offices and other commercial establishments that have since fallen out of use. Some companies will find large warehouses available with features like loading docks and plentiful storage space, which makes them prime candidates for warehousing and shipping companies. There are also many places available on sites on vacant or under-utilized lands. Those seeking commercial properties in this area will find lots ranging in size from less than an acre to over five acres and more. For an office space lease, the average rate is about $0.67-$0.83 per SF each month, but that number varies depending on the building’s location, its age, its access to key transportation hubs and other factors. In addition to being straight commercial properties, some buildings are being offered for sale or lease with the potential for mixed use purposes. Some of the buildings, for instance, site an intended future use of constructing a development of single-family or multi-family homes, while leaving room for an adjacent commercial complex that ideally houses a combination of anchor tenants (large, multi-national corporations that can easily pay their rent and bring consumers, such as Staples, Best Buy and Walmart) and smaller local establishments like restaurants, liquor stores and laundromats that are equally necessary but don’t have the funding to set up shop on their own. Occasionally, prospective tenants will find exceptional deals when searching for commercial properties that are available in the area, such as the first month’s rent free or utilities and other services (like sidewalk clearing and driveway or parking lot plowing) available as part of the deal when the tenant signs up to lease or own the property. Rent for commercial properties, like residential properties, may include or exclude the cost of certain utilities and property benefits like trash removal, sidewalk clearing, heating, and air conditioning. Some commercial buildings are located closer to the town’s center, while others are located a bit farther away from the main human and vehicular traffic areas. The benefits for being closer to the town’s center are greater visibility and more accessible and convenient location. Buildings and lands centered farther away from the town’s center, in contrast, tend to have lower sales and rental prices. They also generally come with more land and may come with additional perks like ample private parking (which is a coveted feature in compact areas) and more scenic and private surroundings. Some commercial spaces are suitable for a myriad of uses, while others are designated for certain uses, such as gas stations, doctor’s offices and convenience stores.
Bellingham Retail Space Market
Also available for sale and for lease, there are plenty of opportunities for retailers of all types to set up shop in this town. The town has an active and engaged community and residential base. Citizens here continue to need their basic needs met with stores like clothing shops, banks, coffee shops, grocery stores, bookstores, gift shops and more. Prospective retail tenants will find potential spaces available in stand-alone and freestanding buildings, as well as establishments that are housed in mixed-use facilities. Some retail offices are located on the first floor, which offers tremendous visibility and ease of access, while others are situated on the upper levels. Some lease deals offer retailers a combination of multiple floors, which is an ideal scenario for businesses who want to give their employees or other community members places to live. This bi-level rental or sale opportunity is also beneficial for companies that benefit from a multi-floor layout, such as clothing retails who provide clothing for men and women. Due to the town’s affordability, decent population size and easy access to Boston, retail spaces do not last long on the market. It’s not uncommon to find a situation where an entire building is posted for sale or for lease, and retail spaces, which are individually rented out or sold, disappear quickly. This is particularly true for buildings in highly trafficked and conveniently located sites, such as those along Route 140 and Route 495. As with residential dwellings and other leased and rented properties, prospective tenants may find that their rental prices cover all, some or none of the maintenance costs associated with the building’s upkeep, such as sidewalk clearing, lawn mowing, trash removal and more. Additionally, rental prices may or may not include utilities like heat and air conditioning. The average cost of renting retail space in this area is about $1.00 per SF per month. Prices can go up to about $1.25 per SF per month or more, and they can fall below the average too. For instance, some retail spaces are available for as little as $0.83 per SF per month. When considering the cost of renting, businesses should keep in mind the potential pros and cons associated with higher and lower prices. Higher prices might be more of a financial burden, but they also offer the retailer more visibility and a more prominent location. That, in turn, could increase business to the extent that makes the monthly rental payment worth the investment. Alternatively, a retailer seeking a rental property with a lower price might realize significant financial savings. The trade-off is that the retailer might settle for a less visible location, which in turn brings less human and vehicular traffic. Another consideration is that lower prices are sometimes assigned to older buildings, which might mean that the tenant has to put more money into repairing and even maintaining the building to make it hospitable. The same basic pros and cons apply to retailers looking to possibly purchase business space in the area.
Retailers considering joining the area should note that if they do, they’ll join a wealth of local businesses such as boutique clothing shops, restaurants, liquor stores, pet shops and other community-oriented enterprises. Some retailers already in town are accountants, lawyers (who work individually and in firms), dentists, mailing and package stores, auto sales stores and auto repair shops, beauty salons and computer repair stores. Many businesses in the area are a part of the Bellingham Business Association, which is a collaborative network of entities who seek to improve conditions for entities both large and small in the area. The mission of the Association is to make conditions more favorable for businesses, promote higher business standards and raise awareness of the problems facing the business community. Members of this organization include professionals like doctors, lawyers and accountants, as well as local large and small retailers.
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Commercial Property List