Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    15-19 School St Framingham, MA 01701

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space in a high-traffic plaza with ample parking.

    Property size:
    24,000 SF
    Lot size:
    24,000 SF

    Property Features for 15-19 School St

    General Information

    Size
    24,000 SF

    Building Details

    Year built
    1956

    We can help!

    Listing Contact
    Matt Quinlan
    Source: Naiglobal

    Listing Agent: Matt Quinlan

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

    Learn more

    Property Insight Report

    Overview

    Retail Space in Busy Plaza

    This retail space is located in a busy retail plaza with heavy daily vehicle and pedestrian traffic. The property offers plentiful parking and signage opportunities. The available corner unit space was previously used as an ATM location and is centrally located in the plaza between a Walgreens and Makari's Market. The space is handicap accessible and suitable for many types of businesses. On-site management is available. The property is located at 15-19 School St, Framingham, MA 01701. The property size is 24000 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Framingham
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.3951857
    Latitude
    42.3199658

    Nearby Similar for Lease

    • $1,600 /Mo
      6,098 SF

      Framingham Office Space Available

      First floor office space for rent in Framingham, MA.
      12 Library St, Framingham, MA 01701
      View Details
    • Contact for pricing
      32,696 SF

      Framingham Flex/Manufacturing Building

      32,696 SF flex/manufacturing building for lease in Framingham.
      190 Fountain St, Framingham, MA 01702
      View Details
    • Contact for pricing
      15,000 SF

      Framingham Office Space Available

      Flexible office suites available in a professionally maintained building.
      1 Clarks Hl Ln, Framingham, MA
      View Details
    • $3,200,000
      4,196 SF

      Framingham Office Building For Lease

      Well-located, multi-tenanted office building with flexible space available for lease.
      495 Old Connecticut Path, Framingham, MA 01701
      View Details
    • Contact for pricing
      28,990 SF

      Framingham Industrial Space For Lease

      Industrial space for lease with loading docks and highway access.
      853-881 Waverly St, Framingham, MA 01702
      View Details
    • Contact for pricing
      22,750 SF

      Framingham Office Space on Route 9

      First floor office space for lease on Route 9.
      1101 Worcester Rd, Framingham, MA 01701
      View Details
    • $2,000 /Mo
      1,400 SF

      Framingham Office Space for Rent

      First floor office space in Framingham's commercial area.
      327 Union Ave, Framingham, MA 01702
      View Details
    • Contact for pricing
      1,028 SF

      Framingham Office Park Office Space

      Multi-tenant office building with renovated suites and abundant parking.
      1671 Worcester Rd, Framingham, MA 01701
      View Details
    • Contact for pricing
      3,101 SF

      Framingham Office Park Suites Available

      Multi-tenant office building with modern amenities and abundant parking.
      1661 Worcester Rd, Framingham, MA 01701
      View Details
    • Contact for pricing
      24,000 SF

      Framingham Office Building For Lease

      Three-story office building near major routes and amenities.
      1 Speen St, Framingham, MA 01701
      View Details
    • Contact for pricing
      8,249 SF

      Framingham Executive Park Office Space

      Attractive office buildings in Framingham Executive Park available for lease.
      10 Speen St, Framingham, MA 01701
      View Details
    • Contact for pricing
      1,750 SF

      Turn-Key Salon Space Available

      Fully renovated salon space with prime signage opportunities on Worcester Road.
      421 Worcester Rd, Framingham, MA 01701
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space in a high-traffic plaza with ample parking.
    Where is this retail space located?
    The property is located at 15-19 School St Framingham, MA.
    What are key features of this property?
    This property features: - High daily vehicle and pedestrian traffic location.; - Centrally located in a busy retail plaza between Walgreens and Makari's Market.; - Plentiful parking and available signage.
    (978) 790-2865
    Request Owner's contact information
    15-19 School St Framingham, MA 01701
    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.
    15-19 School St
    Framingham, MA 01701
    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
    15-19 School St Framingham, MA 01701
    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

    We can help!
    Listing Contact
    Matt Quinlan
    (978) 790-2865
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.