Swampscott, MA Commercial Real Estate for Sale and Lease
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What to Expect
This Essex County town of around 13,800 people is situated about 15 miles north of Boston. Within its borders, you'll find commercial properties ranging from office space to manufacturing space to retail space for sale and for lease. Regardless of your objectives, then, you can find properties that suit your need quickly--especially is you use our search feature.
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are here when you need us, so please call Boston City Properties today for more information.This town is an ideal location for investors of all types. Located only 14 miles away from Boston, this seaside community offers good sites for tourism activities. Many investors focus on building hotels and tourism-related businesses to cater to the visitors who flock to the area.
Even in the modern era, this town has remained the site of fishing businesses. Long ago, it was the place were Ebenezer Thorndike developed the lobster pot. Other inventors created the Swampscott Dory, which is still fishing boat in use today. Over the years, investors have continued to focus on fishing and large resorts. Many of the large estates in the area were from these early, wealthy patrons.
Historic hotels are just one potential investment in the neighborhood. These resorts were created for Boston residents who wanted to escape the heat and unwind on the beach. Over the years, the tourism industry has included hotels, ballrooms and golf courses for visitors to use. Many of these early hotels were destroyed in fires, but some of the large estates still remain. Real estate investors often use these large estates to create subdivided units for rentals. With its location on the seashore, this destination remains a popular spot for tourists and renters alike.
Investors often choose this area because of the range of real estate properties and commercial options. There are residential, land and commercial options. Some landlords invest in the area because commuters like the close access to the MBTA purple line. Other investors focus on beachside condos or restaurants.
There are a number of options available for rentals and luxury investments. One of the oldest options can be found in the Olmsted Subdivision Historic District. Bordered by Swampscott Avenue, New Ocean Street, Burrill Street and Redington Street, this neighborhood was originally developed by Frederick Law Olmsted, Sr. Investors interested in spacious homes and historic properties can check out this subdivision.
Office Space Market
Office spaces are generally available for $1.31 to $2.43 per square foot per month. Other than finding a space near one of the major retail centers, business owners have a number of options throughout the community. Many of the best options are near Paradise Road because of the many vehicles that drive through every day.
At 503 Humphrey Street, business owners can find a good example of office spaces in the area. This property has an annual rent for $15.75 per square foot. It includes a total of 1,250 square feet of space with a loft area. Spaces like this can be used for standard offices, fitness studios or retail space. Because of its location near the bus line and Humphrey Street, it enjoys excellent foot traffic and drive-by traffic. Unlike other options on Humphrey Street, this one actually includes off-street parking. The versatile space is designed with a raised floor and can be built to suit.
For an annual rent of $29 per square foot, residents can invest in 990 Paradise Road. Built in 1975, the contemporary unit includes 1,500 square feet. The entire building is 20,000 square feet in size. Within this office space, tenants can enjoy having beautifully landscaped grounds and an atrium lobby. Some of the professionals in the building include medical, legal and business professionals. Outfitted with two parking lots, the rental price includes utilities. Units like this one also include excellent window exposure.
When looking for office space in the area, residents should look for spots near the mall or Vinnin Square. These options are ideal if you want to bring in foot traffic or drivers. In addition, it is important to find an office space that includes off-street parking. Some of the smaller spaces only offer on-street parking, but they tend to have a lower price to adjust for this drawback.
Retail Space Market
One of the largest retail spaces in the area is the Swampscott Mall. Spanning a total of 140,096 square feet, this mall includes more than 400 parking spaces. Right now, the mall is fully leased. Tenants at the property include GAP, Walgreens, Craft Beer Cellar, Boston Beauty, Radio Shack and Bank of America. Each day, 11,100 vehicles traverse neighboring Loring Avenue. On nearby Paradise Road/Route 1A, 20,500 vehicles drive by each day.
The other major spot for retail space is located across the street from the mall. Known as Vinnin Square, this large square includes national chains and local shops. Major brands like Petco, TJ Maxx, Marshalls, Whole Foods, GNC and Staples are already at Vinnin Square. Tenants will also find restaurants like Starbucks, Panera and Boston Market.
Constructed in 1962, Vinnin Square occasionally has spaces available for rent. One example can be found at studio 12. This space includes 1,350 square feet of retail space. Renters at the property can enjoy amenities like signage, banking, a food court, out parcel and restaurants.
While many of the malls are fully leased, there are retail spaces available at locations like 430 Paradise Road. This space rents for $38 to $40 per square foot. In total, the space offers 13,200 square feet of open space. Currently, this location has a 1,291-square-foot unit and a 1,000-square-foot unit. The units offer 30 and 20 feet of frontage, respectively.
Real Estate News
In recent news, one investor bought President Calvin Coolidge’s home to his portfolio. Known as the Summer White House, this oceanfront mansion features 28 rooms and was once the site of the Marian Court College. It was bought by the owner and developer of more than a dozen strip malls. The 6.2-acre property ended up selling for $2.75 million, but it was assessed at $5.8 million. While the owners are still investigating potential uses for the property, they are currently considering age-restricted housing.
Previously, the last owners tried to convert the space into an Orthodox Christian monastery. The last owners tried to add a brewery to the site, but city officials did not approve of the change because of zoning laws. The current plan is to add 18 condominiums to the property. While the purpose of the Summer White House will change, the developers plan on preserving as much of the historic estate as possible.
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