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374-378 Union St Franklin, MA 02038

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For Sale
$1,500,000

Three-story mixed-use building with six units and upside potential.

Lot size:
0.23 Acres

Property Features for 374-378 Union St

General Information

Lot size
0.23 Acres

Building Details

Year built
1900

Source: Horvath & Tremblay Agent Dennis Kelleher

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


Overview

Mixed-Use Building with Income Potential

The property at 374-378 Union Street is a three-story mixed-use building featuring six units. The unit mix includes four 2-bedroom/1-bathroom residential units and two commercial units. Situated on a 0.23-acre parcel, the property provides ten on-site parking spaces located at the rear. The property is located in Norfolk County, where there is a limited supply of multi-family units and a high demand for rental units. Each unit is separately metered for electricity, heat, and hot water, with tenants responsible for these utilities. The landlord is responsible for common area electric, domestic water, and sewer. Opportunities exist to increase income through updates to the unrenovated units, common areas, and the exterior of the building. One of the commercial tenants, a pizza shop, has a new five-year lease with one 5-year option, which includes 3% annual rent increases. The other commercial tenant, a print shop, is currently paying below-market rent, offering additional upside potential. The property is well-maintained and presents significant upside in a desirable location.
Location Intelligence

Current Use by Public Records

Retail space

Suggested Use

Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

Location Insight

  • Map
  • Local Demand
City
Franklin
County
Norfolk
State
Massachusetts
Longitude
-71.4034115
Latitude
42.0757171

FAQs

What type of property is this?
Mixed-use property - Three-story mixed-use building with six units and upside potential.
Where is this mixed-use property located?
The property is located at 374-378 Union St Franklin, MA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: - Six-unit mixed-use building with strong rental demand in Norfolk County.; - Ten on-site parking spaces, a valuable amenity.; - Separately metered utilities (electricity, heat, hot water) paid by tenants.
More about this property
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