Reading, MA Commercial Real Estate for Sale and Lease

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What to Expect

This town is located in Middlesex County about 10 miles north of Boston. With a population of roughly 24,800, it's large enough to have fairly diverse and extensive commercial real estate options, including office space, industrial space and retail space. Properties for sale and for lease are typically available at any given time.

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Located in Middlesex County, Massachusetts, this town is located only 16 miles north of Boston, making it prime for a wave of redevelopment. With a population of 24,747, it boasts a healthy number of residents for commercial shopping developments. Settled in 1644, the area has a tight-knit historic core that acts as a year-round attraction to visitors, making recreational and hospitality developments an excellent investment. With 9.9 square miles of land, the area has the rare distinction of not having any major bodies of water within its city limits, although it is close to Lake Quannapowitt.

Green areas within the city limits include South Cedar Swamp, Timberneck Swamp, Bare Meadow, Kurchian Woods, the Reading Town Forest, and the Middlebrook Country Club. The Reading Town Forest borders a pond fed by the Ipswich River, creating many opportunities for residents to enjoy themselves outdoors and on the water.

This town is exceptionally easy to access by car; two major Interstates, 93 and 95, cross at the southwest corner of town, creating instant access to the historic downtown. Those who prefer commuter rail can access the town via the MBTA Commuter Rail Haverhill/Reading line, which has a stop in town, and provides direct access to North Station in Boston. Bus service via routes 137 and 136 also serves the area.

Large plots of land occasionally come up for sale or lease in this area, although in many cases they may already be host to an existing structure or facility. The property at 467 Main Street has a lot size of 0.41 acres, and is currently occupied by a service station that was built in 1948. Classified as retail, this property bears the distinction of being labeled as a “Smart Growth” zoning opportunity. This may or may not include keeping the 2,200 square foot structure that is currently on the property, although developers could undoubtedly make higher and better use of the property if this structure was redeveloped. The price for this parcel has been listed at $1,295,000.

Office Space Market

The office space in this city tends to be competitive. This scarcity is driven partly by the longevity of the businesses that occupy this area, and is one of the reasons the area is primed for development. The structure at 123 Haven Street offers a rare opportunity to lease a space right in the heart of downtown. Located only 0.1 miles from the MBTA Commuter Line station, the 9,474 square foot facility has been listed as being ideal for a bank, but the space is adaptable for different tenant needs, especially for a high-end office. Built in 1973, the brick veneer structure includes a drive through window, an upper story, and an onsite parking lot. The estimated rent for this property is $1.67 per square foot per month.

The property at 287 Lowell Street is the perfect space for a visionary investor who is ready to create a distinctive, unusual office space. With a red shingled exterior, this charming two story 3,780 square foot structure was built in 1920, and is located at the gateway of downtown. With an onsite parking lot and easy access to Route 129, the refurbished property has been used as a convenience store, but it's roomy interior is perfect for a contemporary business that could make use of storefront windows and a large, rectangular floor plan. The sale price for this property is listed at $950,000.

Retail Space Market

From the dense storefronts of downtown to the spacious retail complexes located closer to the countryside, the retail space market in this town offers a number of different arrangements and amenities for the visionary investor. The property at 345 Main Street is located within the highly trafficked business district directly off Route 28, and has an onsite parking lot. The prominent storefront windows and white exterior wrap provide clean, convenient retail space with impossible-to-miss business signage. The 20,110 square foot structure has numerous units of different sizes that can be configured to suit different tenant needs. A 1,500 square foot unit in this complex is currently set up to be a restaurant, but other units can be modified into almost any type. Built in 1979, this complex has not listed its estimated rent.

Those seeking freestanding retail will be interested in the property at 1 General Way, which has 258,000 square feet of adaptable retail units and suites. Built in 1950, the complex has been recently refurbished and is located off the Interstate 95 cloverleaf and within only 0.4 miles of the MBTA Commuter Rail line station. The location is also located within a 15 mile radius of one million residents, making it an excellent site for grocery stores, furniture stores, and other residentially-inclined retail. Business signage is displayed with visual range of the Interstate, and the suites range in size from 1,600 square feet to 17,000 square feet. The estimated rent for this property has not been released.

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