186 Grove StFranklin, MA 02038

Property Details for 186 Grove St

Year built

1950

Construction

FRAME

Lot size

1.88 AC

Property size (Sq ft)

3,767 SF

Property type

Office buildings

APN

FRAN M:306 L:010

APU

FRANM306L010

Description

This exceptional 1.88-acre commercial property at 186 Grove Street, Franklin, MA, presents a remarkable investment opportunity. The professional office building, extensively remodeled in 2020, boasts 25 parking spaces and is ideally situated in a convenient industrial zone, just minutes from I-495. Currently configured as four separate business suites, each with its own distinct character, the building offers significant flexibility for a variety of uses. Four bathrooms cater to the needs of tenants and staff. The property features two independent natural gas heating systems, ensuring efficient and reliable climate control. Security is enhanced by a comprehensive alarm system and an integrated access card system, providing peace of mind. Landscaping is simplified with an automated irrigation system. Recent upgrades include a new roof (2020), exterior and common area lighting controlled by Lutron switches for energy efficiency and convenience, and a wheelchair-accessible ramp (2020). A Tesla power charger (pedestal base) adds a modern amenity. The building's exterior is finished with durable vinyl siding. The property is connected to town water and sewer systems. This property offers substantial expansion potential, making it an ideal choice for businesses seeking a well-maintained, strategically located office space with room to grow. The asking price is $1,195,000.

• CAP approach

  CAP return

  Valuation

  6%

  $622,798

  6.5%

  $574,890

  7%

  $533,827

• Comparable approach

  Method

  Valuation

  Relative Method

  $492,196

  Geo Method

  $492,196

• Alternative Use

  Use

  Valuation

  Residential

  $712,864

  Hospitality

  $652,979

  Educational

  $543,271

  Medical

  $561,955

  Retail

  $845,088

Location Insight

City

Franklin

County

Norfolk

State

Massachusetts

Latitude

42.0672

Longitude

-71.4252

CBSA code

14460

CBSA name

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

Property Tax & Assessments

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