389 Worcester RdFramingham, MA 01701

Property Details for 389 Worcester Rd

Year built

1900

Construction

FRAME

Lot size

0.34 AC

Property size (Sq ft)

3,647 SF

Zone code

B

Property type

Retail space

APN

FRAM M:102 B:03 L:2747 U:000

APU

FRAMM102B03L2747U000

Description

This exceptional redevelopment opportunity encompasses two parcels totaling 0.84 acres at 389 & 393 Worcester Road, Framingham, MA 01701. The property, boasting 10,234 square feet, is zoned "B" and presents a multitude of commercial development possibilities. By-right uses include retail, medical office, and school uses, with mixed-use development achievable via special permit. Built in 1987, this Class B property offers significant potential for investors and developers. Its prime location on Route 9 ensures high visibility and accessibility, benefiting from an average daily traffic count exceeding 46,000 vehicles. This strategic location within the vibrant Framingham area makes it an ideal site for a variety of commercial ventures. The asking price for this exceptional investment is $2,500,000. Don't miss this chance to acquire a highly sought-after property in a thriving Massachusetts market. This is a rare opportunity to capitalize on a high-traffic location and create a significant return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $886,348

  6.5%

  $818,168

  7%

  $759,727

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,200,823

  Geo Method

  $1,200,823

• Alternative Use

  Use

  Valuation

  Residential

  $690,155

  Hospitality

  $632,178

  Educational

  $525,965

  Medical

  $544,054

  Retail

  $818,168

Location Insight

City

Framingham

County

Middlesex

State

Massachusetts

Latitude

42.2984

Longitude

-71.411

CBSA code

14460

CBSA name

BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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