Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Framingham Retail and Office Spaces Title is generated by Realmo AI

    61 Nicholas Rd #7, Framingham, MA 01701

    View on Map
    Claim this Listing
    For Lease
    $2,400/Mo $10 SF/Yr (calc)

    Retail and office spaces for lease in multi-use building.

    Property size:
    2,800 SF
    Added:
    Jun 27, 2024
    Days on Market:
    708
    Last Refresh:
    Mar 16 at 9:09 am

    Property Features for 61 Nicholas Rd #7

    General Information

    Standard status
    Active
    Size
    2,800 SF

    Building Details

    Year Built
    1957

    We can help!

    Listing Contact
    Sam Takla

    Listing agent Sam Takla

    Listing office Coldwell Banker Realty - Framingham

    Listing date Jun 27, 2024

    Source Corcoran

    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 Coldwell Banker Realty - Framingham

    HighLights

    • Prime location in desirable North Framingham, offering high visibility and accessibility.
    • Ample parking with space for over 84 cars, a significant convenience for customers and employees.
    • Professionally managed building, ensuring well‑maintained premises and responsive service.
    • Convenient access to major transportation routes, including Route 9 and the Mass Pike.
    • Flexible space options with a 1,500 sq ft store and two office spaces available.
    • Tenant‑controlled utilities, with tenants responsible only for their own electric and gas bills.

    Overview

    The property features a 1,500 sq ft store and two office spaces available for lease. It is located on the main level of an 18,774 sq ft multi-use building in North Framingham. The first floor houses six retail stores, and the second floor contains six office spaces. The building is professionally managed and provides ample parking for over 84 cars. The location is conveniently situated just minutes from Route 9 and the Mass Pike. Tenants are responsible for their own electric and gas bills.
    Property Profile Location Intelligence

    Current Use by Public Records

    Anthony's Safety Gun Shop Upscale Contracting Construction Company Llo electrician corp Electrical Service L.K Tactical & Training Gun Shop Northeast Reiki Center Alternative Medicine Practice

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Framingham
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.4035
    Latitude
    42.3282

    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
    • $2,200/Mo
      1,000 SF

      Medical Office Space Available

      Medical office space for lease in established building.
      140 Lincoln St., Framingham, MA 01702
      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
    • $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?
    Retail space - Retail and office spaces for lease in multi-use building.
    Where is this retail space located?
    The property is located at 61 Nicholas Rd #7 Framingham, MA.
    What is the lease rate?
    The lease rate is $2,400 /Mo.
    What are key features of this property?
    This property features: Prime location in desirable North Framingham, offering high visibility and accessibility.; Ample parking with space for over 84 cars, a significant convenience for customers and employees.; Professionally managed building, ensuring well‑maintained premises and responsive service.
    We can help!
    Listing Contact
    Sam Takla
    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
    61 Nicholas Rd #7, Framingham, MA 01701
    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!