What To Consider When Buying Medical Office Space

Is your medical practice looking to expand to a new office building? Are you ready to start a practice all on your own but need a medical office first? Quinn & Associates is here to help you find your perfect medical office space in the South Shore area of Massachusetts. Before you browse through our various medical office properties available for lease or purchase, there are a few things you should consider.

Buying a medical office is much different than buying industrial or business property. There are amenities you’ll need to ensure are available for your patients on site and you will also need to consider what technology you’ll be using. Below are a few other considerations to be mindful of.

Buying The Perfect Medical Office Space

• Consider The Population Size. The South Shore is a huge area and there are thousands of people living in close proximity to each other. Wherever there’s a large population, you can expect that there will also be plenty of other medical offices in the area. It’s important to talk to a commercial Realtor in the South Shore so that you can get a better understanding of what sized population your office will serve.
• Consider The Nearby Competition. Setting up shop in a rural area and being the only doctor practicing your type of medicine is no problem. However, as mentioned above, the South Shore is highly populated and there may be other doctors in the area practicing the same type of medicine. Do some research online and check to see who else is in the neighborhood.
• Ease of Accessibility for Patients. If your new medical practice is off on a side street within a large residential neighborhood, it may be more difficult for patients to get to your office. The South Shore is equipped with a well-oiled public transportation system that follows major thoroughfares throughout the area, so we highly recommend finding an office on a main road or intersection. Just as restaurants tend to pop up on main roads, so too do office buildings and medical complexes. Your office should be easily accessible by car or bus, and if you can be near an MBTA commuter rail or T stop — this is also ideal.
• Interior and Exterior Appearance. Doctors offices these days tend to emit a sense of cleanliness and sterility. When talking through potential medical offices for sale, it’s important to take note of what the interior of the building looks like. You may need to take note that the walls need to be repainted or the carpet need to be replaced in order to make your new office feel more like a medical office. Don’t forget to check the exterior of the office space as well. Are there plenty of windows? Does the facade look inviting? Is there a spacious parking lot and is the space handicap accessible?
• Cost, Taxes, Appreciation, ROI. The financial details should always be your largest consideration before purchasing or leasing a medical  office. Up front cost if you’re purchasing a property, as well as property and other business taxes should also be taken into account. Don’t forget that if your medical office is in an up and coming area, the value could increase over time, which means a better return on investment if you ever choose to move locations in the future.

Need help finding the perfect medical office building for your growing practice? Our Brockton area commercial Real estate company will help you choose the best property that fits your needs and your budget. Contact us today to schedule an appointment.