Finding the right dental office for rent in Boston takes research and persistence, but it really matters.
Medical Real Estate Focused Team
Industry Leading Demographics
Hundreds of Successful Clients
So, you’re thinking about space for your practice in Boston – exciting! Navigating the commercial real estate market is a little different than the residential one, so we’ve created this short guide of tips and key pitfalls to avoid while trying to find a dental office for rent in Boston.
Where can you find a dental office for rent?
Commercial Real Estate Agents
Commercial Real Estate Agents use their local market knowledge and relationships alongside databases of properties to find and screen available properties for their clients.
Most commercial real estate agents specialize on either landlord representation or tenant representation. We almost exclusively represent medical tenants, the majority of which are dentists looking to find a dental office for rent.
Hit the Street
Driving areas you are interested in can be a good way to get a feel for what is out there on the market. When trying to find a dental office for rent in Boston, you’ll want to be sure to take note of the existing practices that are nearby.
Boston is a city of mixed-use residential, commercial, and industrial neighborhoods.
The Downtown area consists of Downtown Crossing, the Financial District, and Government Center – home to many state and federal government offices.
Neighborhoods near the downtown area include Chinatown, the North End, South End, Beacon Hill, Back Bay, and Bay Village.
West of the downtown area is Fenway Kenmore, Brighton, and Mission Hill. Fenway Kenmore sits next to the main campus of Boston University and is home to many university residents and young professionals.
The West End is home to Massachusetts General Hospital, a large teaching hospital and research facility in the city.
Roxbury, Dorchester, and South Boston all sit to the south of the downtown district, with Dorchester being the largest residential neighborhood by population in the city.
Farther south are the neighborhoods of Hyde Park, West Roxbury, Mattapan, and Roslindale. These neighborhoods have a much more distinct suburban vibe while still existing as part of the city of Boston.
Keep in mind, if you go to a landlord’s broker directly without representation, the landlord’s broker simply keeps the entire listing fee from the landlord instead of splitting the fee with an independent agent of your choosing.
Some landlords won’t pay a tenant agent (your agent) if you’ve discussed a space in depth with them on your own previously. This can make it tricky to bring in outside representation later.
There are several listing services that are available for free online. They are less comprehensive than the paid databases, and are often less frequently updated. Searching through them is a great way to get a feel for what you like and don’t like in commercial properties, but can be a hard way to find a dental office for rent. Take note of any property features or amenities that strike you as important for your practice.
What makes a location great for a dental practice in Boston?
For a general dentistry office you want to consider a few key things:
- Local competition
- Proximity to target customer demographic
- Does the space promote the practice adequately (high traffic retail vs office space)
- Adequate parking
- No exclusives on dentistry with other tenants
If you’re a specialist, you are likely more concerned with:
- Proximity to referral sources
- Signage and other “built in” marketing provided by many retail sites may be less important
Boston Dental Demographics
Boston is the seat of Suffolk County and is the largest and most populous city in the state of Massachusetts – and also in all of New England – with an estimated population of 694,583 residents in 2018.
The city is the third most densely populated city of greater than 50,000 residents in the United States.
The greater metropolitan area is estimated to contain approximately 4.8 million residents, making this the tenth largest metropolitan area in the United States.
The greater Boston area has a large Hispanic population with large numbers of residents of Puerto Rican, Dominican, Salvadoran, Columbian, and Mexican ancestry.
The median resident age in Boston is 32.1 years, significantly lower than the median age for the entire state of Massachusetts at 39.5 years.
The estimated median household income in Boston is $63,621 according to 2016 census data, below the Massachusetts state median household income of $75,297.
Medical Real Estate in Boston
Due to the large concentration of people in Boston, space comes at a premium. Costs per square foot can be extremely high and occupancies rare in certain competitive neighborhoods. This is why it is vital to have a well-rounded understanding of the many factors that go into selecting an ideal location for your dental or other medical practice.
Get the benefits of agent representation at no cost to you
A commercial real estate agent specializing in medical leasing can help you to consider all of your options and select the perfect location that both fits within your budget and satisfies all of your business needs.
Best of all, commercial landlords typically pay the entire agent fee when finalizing an agreement. Why not take advantage of the benefits of enlisting qualified professional agents that will help you to get the best deal on the right property.
Ways to offset lease expenses in your dental practice
Although the rent for your Boston dental office may seem to take up a large part of your expenses, there are several ways you can help bring those costs down.
Consider renting out an operatory to specialists wishing to do work for patients in your area. Keep non-profit-producing space to a minimum. Efficient scheduling practices can help to eliminate the need for a large waiting space. Or, consider whether a similar but less expensive neighborhood would be a better deal for the bottom line.
Lease costs for healthcare real estate in Boston can be expensive, but there are enormous opportunities for great dentists who start their practices off right with the perfect location.
Ready to find a dental office for rent?
We do the heavy lifting of combing through property databases and running demographics and competition reports for you. We work exclusively with medical clients, so we know how dental practices work and what it takes to be successful. Use the form below to get in touch and we’ll reach out shortly.