Mixed use commercial properties in Massachusetts are an incredible investment opportunity if you know how to use them. They can offer a higher return on investment ratio than most properties, and they also offer a wide range of benefits that many investors don’t consider.
What Are Mixed-Use Commercial Properties?
The definition of a mixed-use commercial property is “a multi-use, multi-purpose building that physically and functionally provides space to integrate commercial, cultural, institutional and industrial uses.” That means a building could have retail shops on the first floor and offices or warehouses on the second floor and above.
From gaining more exposure for your tenants’ customers, to easier code compliance, the benefits of mixed use commercial property are numerous. Let’s take a look at some of the benefits that mixed use commercial property in Massachusetts offers both investors and their tenants.
The one main factor that makes mixed use commercial properties in Massachusetts so attractive for investors is they offer a wide range of possible uses. This makes them easier to lease to small business owners who are considering purchasing a property for their business but can quite afford it yet.
Here are some of the ways that you can use a mixed-use commercial property in Massachusetts:
Studio/light industrial. This is the most popular option that many investors choose when purchasing a mixed-use commercial property. Studios and small workshops are an important part of any urban scene and they can draw high dollar tenants.
Retail district retrofit. A popular trend is to retrofit commercial space, giving it a village-like appearance that enables it to blend in to suburban retail areas.
Neighborhood commercial zoning. This can include convenience stores, cafes and small restaurants.
Office convenience. Small to medium, even enterprise level businesses can lease office space in mixed use commercial buildings.
Office/residential. Some mixed-use commercial buildings are zoned for residential use as well and that can mean offices or retail shops on the ground floor with apartments or condominiums above them.
Parking structure with ground-floor retail. Urban areas can always use more parking and this can be an easy solution for investors wanting to profit quickly from their investment. With retail shops on the ground floor and paid parking above, investors can easily double their profits while providing less property management on the parking structure than what is needed for the retail level.
If you are considering mixed-use commercial property in Massachusetts, contact Sovereign Realty Advisors and speak to a Massachusetts property investment expert today.
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