Mixed-Use Property Near Commuter
For Sale
$1,480,000
12 & 14 Waverly Street, Framingham, MA 01702
Mixed-use property with auto repair potential near commuter rail.
Property Size3,487 SF
Price / SF$424.43
Days on Market744
Property Features for 12 & 14 Waverly Street
General Information
Standard status
Active
Size
3,487 SF
Total Parking Spaces
14
Property subtype
Multi-Family
Zoning
mixed use
Net Operating Income
$79,200
Taxes and HOA fees
Annual Taxes
$8,400
Building Details
Building Size
3,487 SF
Year Built
1900
Stories
2
Listing Agency:
Coldwell Banker Realty - Worcester
(508) 795-7500
Listed By:
Keith Hollett · License #9562588
(617) 791-1145
Source:
Churchillprop
Added: Oct 16, 2024
Changed: Oct 25
Last Checked: Oct 28 at 5:22AM
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 - Worcester
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Investment Insights
Based on property information with market context.
Located on Waverly Street, this mixed-use property offers visibility and high traffic flow near the Framingham/Natick line. The property includes a fully rented two-family dwelling and potential for an auto repair business, complete with a transferrable 3-space car license. The property provides 3,487 square feet of space and features separate utilities. The first-floor apartment is fully handicapped-accessible and includes 3 bedrooms, 1 bathroom, a large kitchen, and a spacious living room. The second-floor unit offers 3 bedrooms, 1 bathroom, an eat-in kitchen, a large living room, plus additional attic space for storage or potential expansion. The location is near the commuter rail and West Natick station, making it accessible for both investors and owner-occupants.
Key Highlights
- High‑traffic location on Framingham/Natick line with fantastic visibility.
- Fully rented two‑family property offering immediate investment income.
- Transferrable 3‑space car license for potential auto repair business.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,786
Cap Rate
4.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,475,720
$1.5M
Cap Rate 7%
$1,054,086
$1.1M
Cap Rate 9%
$819,844
$819.8K
Market Conditions
NOI Build-Up for 3,487 SF
Gross rent
$110.9K $31.80/SF
− Vacancy
−$5.5K −$1.57/SF
EGI
$105.4K $30.23/SF
− OpEx
−$31.6K −$9.07/SF
NOI
$73.8K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,475,720
Cap Rate 7%
$1,054,086
Cap Rate 9%
$819,844
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$922.3K – $1.23M
NOI $73,786 @ 7.0% cap · market cap 4.99%
Second Best
Apartment 5plus
$991.1K
$867.3K – $1.16M
NOI $69,380 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$2.06M
$1.81M – $2.41M
NOI $144,500 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
538
Businesses Nearby
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Business Placement
Demographics for 01702, MA
39,515
Population
15,303
Households
2.6
Avg Household Size
35
Median Age
39%
College-Educated
83%
High-School Grad
8.2 sq mi
ZIP Area
4,819
Density / Sq Mi
$78,784
Median Household Income
$41,792
Median Earnings
$1,822
Median Rent
$563,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with auto repair potential near commuter rail.
Where is this mixed-use property located?
The property is located at 12 & 14 Waverly Street Framingham, MA.
What is the asking price?
The asking price for this property is $1,480,000.
What are key features of this property?
This property features: High‑traffic location on Framingham/Natick line with fantastic visibility.; Fully rented two‑family property offering immediate investment income.; Transferrable 3‑space car license for potential auto repair business.
