Swansea, MA Commercial Real Estate for Sale and Lease

Located in Bristol County, this town is a popular investment site because of its proximity to major cities. It is only 12 miles southeast of Providence and 47 miles south of Boston. This suburban and rural community was originally a nexus for ironworks, forges and fishing. Today, there are still a number of fishing enterprises in the town.

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Modern investors will find a thriving, suburban community that still includes a significant amount of agricultural land. For landlords, the town includes a number of Colonial houses. The retail businesses in this area tend to be placed along the highways. To find investment sites, look along Massachusetts Route 118 and U.S. Route 6. At the junction of these roads, residents will find the Swansea Mall. This single-level mall is the primary location for retail shops. Meanwhile, several office complexes can be found to the north of the mall. More retail shops can be found along Route 103 between the Cole and Lees rivers. Other than these main retail areas and the more populated neighborhoods, the rest of the land is fairly rural.

A relative affluence and a strong population make this town a good investment site. Investors can find a stable consumer base as well as access to a tourist market. The many stately homes and historic estates can be remade into rental units for multiple families. Because of its proximity to Providence, landlords can also find tenants who want a lower rent and a more suburban lifestyle than the bigger city offers. Since the area enjoys a low crime rate and safe environment, it is a popular destination for prospective tenants.

Office Space Market

Many of the best office spaces can be found to the north of the mall. Long ago, some of these offices were used for the First Federal Bank. Now, the same site is used as the headquarters for the Webster Bank. There are also offices for Sallie Mae's Academic Management Services and doctor's offices.

Some of the available office spaces in the community include sites like 463 Swansea Mall Drive. Built in 1989, this office space has 4,00 to 8,179 square feet available. Placed near Route 118, it is directly across from two medical offices. Renters can enjoy renting the nine executive offices. The property has access to a kitchen, conference room and plenty of parking.

At 2302 GAR Highway, investors can expect to pay an annual rent of around $10 per square foot. Located near the bus lines, this office spaces has three different offices that can be built to suit. The offices range from 1,500 to 3,000 square feet. In addition, the office suites offer plenty of parking and a high-traffic area. Placed across from Toyota, this office building is close to Dunkin' Donuts and CVS.

Retail Space Market

The largest retail site in the community is the Swansea Mall. There is another retail area between the Cole River and the Lees River next to Route 103. In addition to retail shops, this section has a number of smaller businesses as well. Currently, the mall is anchored by shops like Macy's, Sears and Walmart. Other tenants include MasterCuts, Victoria's Secret, Old Navy and Ruby Tuesday.

Another example of retail space can be found at 711 GAR Highway. Constructed in 1988, this space was once a Burger King. It still includes a drive-thru lane from its previous tenant. The property is a part of the city's retail corridor in an area that is anchored between Target and Price Rite Supermarket. In total, the property includes 3,145 square feet.

While a number of retail shops can be found for rent, there are also some properties available for sale as well. At 317 Ocean Grove Avenue, entrepreneurs will find a space that is perfect for a restaurant and bar. This space includes 3,600 square feet with views of the water. In addition, there is a free-standing home on the property that includes two bedrooms. Like the restaurant, the home also faces the water. For the entire property, the current owner is asking just $299,000.

Another example of retail sites for sale can be found at 124 GAR Highway. While the sale is pending, this property was offered for just $425,000. Originally built in 1933, the 2.8-acre site is placed close to major roadways. It includes 150.25 feet of frontage. Designed with three bedrooms and a shed, this property is zoned for retail or office space. Part of the property can also be used as a home, so tenants can live and work at the same location. Placed under a mile away from the interstate, this is an ideal site for a small business or retail shop.

Real Estate News

One new development in the area can be found off the GAR Highway and Maple Avenue. This property includes the development of a one-acre plaza It was created by combining a residential property with a commercial property. The finished building will include 5,900 square feet and include a range of businesses. Once completed, it will include an O'Reilly Auto Parts and a Dunkin' Donuts. There will be at least three other businesses will ultimately fill the space. Currently, those businesses are expected to include a nut shop and a sandwich shop. The entire development will only be a short distance away from the Swansea Mall.

Another new project may be in the works at the vacant Apex building. Proposed in 2017, this project would involve demolishing the vacant building and turning it into a four-story complex. Once the project is complete, it will include 221 units on 12.2 acres. The entire project is run by the owners of the Swansea Mall. The finished units will be called the Rosewood Apartments at Swansea and will include some senior housing. In total, the project is expected to cost $47.2 million. It will include 85 one-bedroom, 103 two-bedroom and 23 three-bedroom units. For every three market-rate units, there will be one affordable apartment.

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