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Medfield, MA Commercial Real Estate for Sale and Lease

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What to Expect

This Norfolk County town is roughly 17 miles southwest of Boston. At the time of the 2010 Census, it had a population of around 12,000, so it's large enough to have decent commercial real estate offerings. At any given time, manufacturing, office and retail space are readily available for purchase and for lease.

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Only 17 miles from Boston, this town in Norfolk County, Massachusetts, is primed to experience a wave of growth from savvy commercial investors. With a population of 12,024 living on 14.5 square miles of land, the area has a modest urban density that makes it ideal for large developments that offer dependable returns year after year. Topographically speaking, it is a relatively flat area that is not particularly marshy, although a number of small ponds and brooks dot the region. This makes development relatively uncomplicated.

Recreation areas and publicly accessible green spaces include the Medfield Rhododendron Reservation, the Rocky Woods Reservation, the Medfield Charles River State Reservation, the Fork Factory Brook Reservation, and Metacomet Park. Many of these places have hiking trails and places for picnicking. The Charles River forms the western boundary of the town, providing beautiful waterfront views for residents and visitors. The city’s long history, which dates back to the late 17th century, provides several popular attractions, including the Peak House and the Dwight-Derby House.

The town has a vibrant cultural life, with numerous parades, festivals, and fundraising drives taking place throughout the year. To get to the city, visitors may take Route 27 or Route 109. There is no MBTA Commuter Rail line in town.

Commercial lots of undeveloped land will likely become more frequently offered in the coming years as the town’s potential for expansion becomes known. Investors should continue monitoring listings for the opportunity to purchase first-rate lots.

Office Space Market

The relative density of the area makes multi-story office buildings a rarity; most of the market is concentrated either in historic structures close to the downtown center, or in complexes that take the form of a strip mall. The property at 10-18 North Meadows Road is located off Route 27 near downtown and has an onsite parking lot for easy access. The interior spaces in this complex feature bright, vibrant spaces with drop tile ceilings, hardwood floors, and storage space in the back. With 25,000 total square feet of leasable area, this retail complex offers both storefront retail and office space, depending on tenant needs. Built in 1980, the property has just emerged from a complete renovation. A suite of 1,000 square feet was recently put up for lease. The estimated rent for this property is $1.92 per square foot per month.

Retail Space Market

Charm and accessibility are the drivers of the retail space market in town, making big box spaces rare. However, investors can find properties that are located in the center of downtown for relatively affordable rates. The property at 24-38 Park Street takes the form of a multi-story row-house with a long portico facing the parking spaces that are located directly in front of the building. Built in 1900, the interior has been refurbished with newly carpeted floors, brightly painted walls, drop tile ceilings, built-in cabinets and storage space. The exterior, especially the window panes in the doors, have retained charming period details, adding to the atmosphere of the structure. With 19,340 square feet of available space, the building is ideally suited for small to medium-sized businesses seeking an elegant structure in which to operate their enterprise. The estimated rent for this property is $0.78 a square foot per month.

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