If you are considering purchasing a commercial condominium in Massachusetts, now is a good time. With the economy on an upswing and more small businesses growing and needing additional space, commercial condo leasing is becoming popular, making commercial condo owners more money.
Aside from being able to lease your condo spaces quickly and for more money than just a decade ago, there are more reasons you should own a commercial condominium in Massachusetts. Let’s take a look at them now:
One of the biggest advantages to owning a commercial condominium in Massachusetts is your ability to build equity. This equity can be used for a wide range of things, but most property investors will reinvest that money into another property to build their portfolio and increase their profits even further.
One of the best reasons to own a commercial condominium in Massachusetts is that the cost stability factor is much higher. Your loan payments are typically fixed which enables you to budget your monthly expenditures. With the recent economic growth, you will have a better chance of keeping your spaces full.
Purchasing a commercial condominium in Massachusetts, allows you to depreciate the value of the property over 39 years. This can save money every year on your taxes.
Adding Value to Your Business or Brand
Owning a commercial condo adds more value to your company or brand, not just because it is a sellable asset. Clients see your company as more successful and trustworthy. Owning high profile properties increases client confidence.
Free Office Space, Well Almost
Many commercial condominium owners will use one of the spaces as their own business office or headquarters, enabling them to keep tabs on their property. This strategy also gives them a money saving way to add even more value to the business.
To learn more about the benefits of owning a commercial condominium in Massachusetts, contact Sovereign Realty Advisors today for a no-obligation consultation with one of our Massachusetts commercial property experts today.
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