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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

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    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.
    (781) 776-4002
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    Franklin, MA 02038
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    Realmo Value Estimation

    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.

    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.

    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
    374-378 Union St Franklin, MA 02038
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