Georgetown, MA Commercial Real Estate for Sale and Lease

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What to Expect

Situated about 30 miles north of Boston in Essex County, this town had a population of around 8,200 people at the time of the 2010 U.S. Census. At any given moment, many prime commercial properties are up for grabs. Whether you're going to buy or lease, our database will help you find the best options.

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Quaint and picturesque, this iconic New England town, like many in the area, has a rich history and a long past. The town was officially incorporated in 1838, and it was once part of Rowley. It is part of Essex County, and it was home to just over 8,180 people as of the 2010 census. The town’s industrial history includes mills and manufacturing of consumer products, such as shoes, which was once a main occupation in town. The town’s industrial spirit has continued since then, and it is rife with potential for future commercial and industrial endeavors. A downtown area geared towards the residential crowds makes the spot attractive for retailers and small businesses, while the municipality’s location along the North Shore of Boston makes it prime territory for commercial growth.

Georgetown Commercial Investment Properties

Commercial investors are jumping at the chance to finance commercial, retail, and industrial projects in this town. The area’s strong tradition of manufacturing, commerce, and trade makes it a natural choice for businesses coming to the area that want to repurpose and reuse outdated warehousing and industrial buildings. The area is a prime center for growth with its uncommonly widespread availability of warehouses and industrial buildings that are located along major traffic corridors, and are often sited on large tracts of land, but have become outdated and abandoned as industries have risen and fallen over the years.

Development in the North Shore area, of which this town is a part, has seen some promising trends in the past several years. As with other parts of the Greater Boston area, tenants are favoring lower-class Class B and Class C buildings, which offer plenty of space and the option for a custom finish, over more expensive and more fortified Class A buildings. Along the North Shore, there was over 45 million SF supply available in the third quarter of 2017. Of that amount, there was just under three million SF of direct use space available, and the potential to sublet about half of that amount. Vacancy rates hovered around 10 percent in this area. The third quarter of 2017 saw an absorption rate of about 61,400.

Vacancy rates have traditionally been high, but they are continuing on a downward trend as tenants are moving into and repurposing older buildings for their preferred use. The market currently consists of Class A, Class B, and Class C buildings, but for the first time in history, sales and rentals of Class B and Class C buildings are outpacing those of Class A buildings. The most active sector in the commercial field appears to be warehousing, which accounted for 43 percent of the market in the third quarter of 2017, while flexible use space comprised about 21 percent of the market.

Georgetown Office Space Market

The office space market in this municipality is formed of designated spaces for certain practices, such as medicine, research, and banking. However, there are also many opportunities for commercial entities to set up shop in buildings listed for sale or lease with the potential for repurposing and renovating, such as flexible use buildings and buildings designated as ideal for light and heavy manufacturing.

For companies looking to acquire move-in ready space for specific uses, such as medical offices, an opportunity like the office building on 33 W. Main Street may be an attractive bet. This building is listed for a sale price of $489,900. It is a designated medical suite with a variety of professional offices housed in a beautiful and historic colonial mansion. There are 12 rooms in the house in total and two bathrooms. The house is heated by gas heat, and it is praised as having great visibility. The house is divided into four units, with one on the first floor and three units on the second floor. The building covers a total of 2,500 SF. The facility was constructed in 1850, and incoming owners can expect to get a space of about 2,500 SF. There is a small private parking lot attached to the building, and it is considered to be in a semi-walkable location.

Another example of a commercial building for lease is space at an office complex located at 64 Central St. The building is relatively large and modern, and it covers a total area of 15,900 SF. There are two office spaces being offered for rent, and the rental price is listed as $1.42 per SF each month. There are assorted office suites available in various sizes, ranging from smaller office spaces of just under 500 SF to offices that are just over 1,260 SF. Offsite parking is available at this building, thanks to a large private parking lot, and there is potential for retail tenants to move in as well.

Georgetown Retail Space Market

Also with a mix of move-in ready spots and buildings ready to be renovated and used for new purposes, the retail space market is equally opportunistic for both investors and occupants. A mix of retail spaces can be found in the downtown area as well as in designated retail centers around the town, including shopping centers and plazas.

Those looking for a general retail space might be intrigued by an offer like a space available in a freestanding building listed as suitable for general retail purposes at 40 Central Street. The building, which covers about 25,500 SF of space, is listed as having a space available for a rental price of $1.00 per SF each month. The building’s location, which is part of a vibrant and energetic shopping center, is one of its main assets. The center is also home to several major anchor tenants, including TD Bank, Crosby’s and a pharmacy, which makes it an intriguing and worthwhile opportunity for investors. There are also seven other smaller businesses in the area, and the property enjoys a high volume of foot traffic and vehicular traffic due to both its location and the large anchor tenants in the area. The building was constructed in 1963, and it was redesigned in 2004, which means that it is unlikely to need major repairs and renovations in the near future. Another perk of the building is that it is located just minutes away from the busy I-95 corridor. The location is considered to be somewhat walkable, and the parking area is lit for safety and security.

Another example of a retail space tenants may find on the market is a general retail space in a building at 66 East Main St. The building has a mix of retail and office space. It covers 13,832 SF and is surrounded by picturesque backdrop of trees. The space available for use includes two units, which are being offered for a price of anywhere between $0.83 and $1.17 per SF every month. The building is part of a strip center that includes prominent anchor tenants like Dunkin Donuts, which makes it an attractive opportunity for investors as well as tenants.

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