Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Retail Space in Framingham Center Title is generated by Realmo AI

    1-61 Nicholas Rd, Framingham, MA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail spaces available in established Framingham shopping center.

    Type:RETAIL
    Property size:
    2,400 SF
    Lot size:
    6.65 Acres
    Added:
    Jan 18, 2024
    Days on Market:
    854
    Last Refresh:
    Apr 5 at 9:41 pm

    Property Features for 1-61 Nicholas Rd

    General Information

    Standard status
    Active
    Size
    2,400 SF
    Lot size
    6.65 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 1-61 Nicholas Rd Contact us

    We can help!

    Listing Contact
    Dusty Burke

    Listing agent Dusty Burke

    Listing office American Commercial Real Estate

    Listing date Jan 18, 2024

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of American Commercial Real Estate

    HighLights

    • 20,685 SF Anchor Space Available
    • High Traffic Location: 13,751 ADT
    • Ample Parking with 383 Spaces
    • Existing 45,000 SF Center with Diverse Tenant Mix
    • 2,400 SF Retail Space Next to Lincoln Liquors
    • New Facade Coming Soon & New Ownership

    Overview

    Available for lease are retail spaces within an existing 45,000 square foot shopping center situated on 6.65 acres. The center currently includes tenants such as a US Post Office, Dunkin Donuts, Famous Pizza, Franklin Caterers, 3 Gorges Restaurant, Lincoln Liquors, and Reflections Beauty Salon. Specifically, there is a 2,400 square foot retail space available next to Lincoln Liquors, as well as a 20,685 square foot anchor space. The property provides 383 parking spaces. The location benefits from a traffic count of 13,751 ADT. New ownership is in place, and a new facade is planned for the center. Possible pad sites are also available.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Pinefield Shopping Center — Nicholas Rd, Framingham, MA 01701
    • Round-Up Shopping Center — 15 School St, Framingham, MA 01701
    • CoinMover Bitcoin ATM — 1 Hamilton St, Framingham, MA 01701

    Location Insight

    • Map
    • Local Demand
    City
    Framingham
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.4024
    Latitude
    42.3275

    Nearby Similar for Lease

    • $129-$5,456/Mo
      11-1,292 SF

      MA, Framingham - Worcester Rd

      1101 Worcester Rd, Framingham, MA 01701
      View Details
    • Sponsored
      $129-$5,106/Mo
      11-1,292 SF

      Framingham

      945 Concord St, Unit Framingham Massachusetts United States of America 01701, Framingham, MA 01701
      View Details
    • $2,850/Mo
      2,848 SF

      Framingham Professional Office Space Available

      Professional office space for lease in a prime Framingham location.
      95 Lincoln St, Framingham, MA 01702
      View Details
    • $650/Mo
      440 SF

      Framingham Office Space For Lease

      Office space available in a multi-use building in Framingham.
      61 Nicholas Rd #7, Framingham, MA 01701
      View Details
    • $28 SF/Yr
      4,000 SF

      Prime Retail/Office Space on Route 9

      High-traffic location suitable for retail, office, or medical uses.
      271 Worcester Rd C, Framingham, MA 01701
      View Details
    • $650/Mo
      440 SF

      Framingham Office Space For Lease

      Office space for lease in a multi-use building.
      61 Nicholas Rd 7, Framingham, MA 01701
      View Details
    • $14 SF/Yr
      8,500 SF

      Framingham School/Office Space Available

      Unique, quiet setting suitable for school or office use.
      50 Pamela Rd, Framingham, MA 01701
      View Details
    • $35 SF/Yr
      2,400 SF

      Retail Space on Route 9

      Shared retail space available on busy Route 9.
      235 Worcester Rd 1, Framingham, MA 01701
      View Details
    • $650/Mo
      440 SF

      Framingham Office Space For Lease

      440 SF office space in multi-use building for lease.
      61 Nicholas Rd #7, Framingham, MA 01701
      View Details
    • $2,200/Mo
      2,518 SF

      Medical Office Space Near Hospital

      Move-in ready medical office space near Metrowest Medical Center.
      140 Lincoln St., Framingham, MA 01702
      View Details
    • $20 SF/Yr
      2,800 SF

      Framingham Office Space For Lease

      2,800 Sq. Ft. office space available for lease.
      235 Walnut St, Framingham, MA 01702
      View Details
    • $6,500/Mo

      Framingham Auto Repair Shop For Rent

      Auto repair shop with equipment and ample parking available for rent.
      14 Waverly Street, Framingham, MA 01702
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail spaces available in established Framingham shopping center.
    Where is this shopping center located?
    The property is located at 1-61 Nicholas Rd Framingham, MA.
    What are key features of this property?
    This property features: 20,685 SF Anchor Space Available; High Traffic Location: 13,751 ADT; Ample Parking with 383 Spaces
    (508) 735-6378 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Dusty Burke
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1-61 Nicholas Rd, Framingham, MA
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!