West Newbury, MA Commercial Real Estate for Sale and Lease

Boasting of a small-town ambiance, this area has evolved from a rural, agrarian community into an affluent town. Part of the reason investors and residents come to the area is because of its location within Essex County. This town is only 10 miles away from the Atlantic Ocean and 34 miles north of Boston. Many of the luxury residences boast of waterfront views of the Merrimack River.

Click Here to View Today's

Commercial Property List

Interestingly, one of the long-term sources of employment in the local economy is the Long Hill Orchard. This farm was started in 1896 and is the longest farm to be continually operating. Today, it serves the community through an agricultural program, an apple orchard and farm-to-table events.

Another reason why affluent investors come to the area is because of the many recreational sites. The Crane Pond Wildlife Management Area, the Mill Pond Recreation Area and the Riverbend Recreation Area are all located in this town. Other than buying luxury properties with views of these areas, some residents also buy lavish homes on one of the town's many hills.

Currently, some of the most famous investors and local businesses in the area are based around tourism-based agriculture. Other than the Long Hill Orchard on Main Street, there are also the Brown Spring Farm, the Maple Quest Farm, equestrian facilities and Christmas tree farms. The Brown Spring Farm is located on Main Street and was recently put up for sale to potential investors. Since the town council is working to maintain the rural environment, farms like these are likely to remain in the town for long. Real estate prices may also rise in the near future because the town is working to buy up large parcels of land to ensure continued open spaces.

Some investors buy properties in the town to make single-family and multi-family rental units. This popular investment decision works well since residents come to the town for its charm and accessible transportation options. Interstate 95 runs through the eastern part of the town, and Route 113 is actually the town's main road. In addition, the town is located on the terminals for two of the MBTA's Commuter Rail lines. These lines are the Newburyport/Rockport Line and the Haverhill Line.

Investing in the tourism industry also does fairly well in this town. In addition to being close to the historic port in Newburyport, the town is a popular site for fisherman and boaters from spring to fall. In addition, tourists come to the area for the Plum Island beaches, working farms and hiking trails.

Office Space Market

Other than a few law offices and medical centers, there are very few office spaces in the area. For investors, this represents a huge potential for cornering the rental market. With so few offices in the neighborhood, any new spaces can be rented at a premium. Main Street is the primary thoroughfare for the town, so this is generally one of the best areas for building.

While there are only a few shops along Main Street, this is expected to change in the coming years. Because of the popularity of the area among residences, businesses and professional offices can enjoy having a large consumer base that needs local options for shopping, dining and professional services.

Retail Space Market

When it comes to retail spaces, investors will have to look carefully for the available options. While there are occasionally retail shops available for sale or for lease, these tend to be fairly few and far between. The area is primarily residential, so most of the retail shops and restaurants are found at random intervals throughout the town.

Currently, there are businesses like Excentrique, Invalsa Coffee and West Newbury Food Mart in the neighborhood. Other shops include Scoops Ice Cream, RFR Picture Framing and the West Newbury Barber Shop. Most of these retail shops are focused around the intersection of Main Street and Maple Street.

Real Estate News

While the approval process was just denied, that has not stopped a local couple to keep trying for their lodging license. Colin and Reinhild Hodgson are trying to transform part of their 10,000-square-foot home into a bed and breakfast. If the plan is eventually approved, it will include four rental rooms for tourists in the area. Like similar entrepreneurs in town, the couple would live in a unit attached to the bed and breakfast. Extra parking would be provided for up to eight lodgers at a time. While the plan was recently turned down, the couple is still working to open up the city's restrictive regulations. If they can get the attitude in town to change, more people may be encouraged to start bed and breakfasts in the tourism-focused town.

Click Here to View Today's

Commercial Property List