Downtown Retail and Office
15 Hollis Street Framingham, MA 01702
15 Hollis Street, Framingham, MA, 01702
Contact for pricing
For Sale
Contact for pricing
Multi-use building for sale with off-street parking behind the property, located at the intersection of Routes 135 and 126.
Property Size12,572 SF
Price / SF$190.90
Days on Market13
Property Features for 15 Hollis Street
General Information
- Standard status
- Active
- Size
- 12,572 SF
- Property subtype
- Retail, Office, Mixed Use
Building Details
- Year Built
- 1960
Listing agency
Metrowest Commercial Real Estate
(508) 740-0000
Listed by
Marlene Aron · License #MA 93728-RE-B
Source
Crexi
Added: Jul 9 Updated: Jul 20 at 9:33PM Checked: Jul 20 at 9:33PM
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 Metrowest Commercial Real Estate
Investment Insights
Based on property information with market context.
This downtown commercial building offers a versatile mix of retail and office use, positioned at the intersection of Route 135 and Route 126. The property includes off-street parking behind the building, described as approximately 34 spaces, pending verification. The building’s proximity to transit is highlighted in the listing, with the MBTA noted as steps away.
The offering also references nearby momentum in the area, including an additional new upscale restaurant, luxury apartments, and a supermarket. The remarks further discuss potential for residential conversion on the second floor, subject to redevelopment requirements such as a possible parking waiver and any applicable Transit Oriented Development considerations.
For buyers seeking a visible, transit-adjacent asset with practical parking on site, this property presents a structured option to evaluate existing configurations and redevelopment possibilities based on the cited conditions.
The offering also references nearby momentum in the area, including an additional new upscale restaurant, luxury apartments, and a supermarket. The remarks further discuss potential for residential conversion on the second floor, subject to redevelopment requirements such as a possible parking waiver and any applicable Transit Oriented Development considerations.
For buyers seeking a visible, transit-adjacent asset with practical parking on site, this property presents a structured option to evaluate existing configurations and redevelopment possibilities based on the cited conditions.
Key Highlights
- Multi‑use building built in 1960, located at the intersection of Routes 135 and 126 in downtown Framingham
- Off‑street parking behind the building, adjacent to a city parking lot
- Approx. 34 parking spaces behind the building (to be verified)
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $276.1k | $21.96 |
| − Vacancy | −$17.9k | −$1.43 |
| EGI | $258.1k | $20.53 |
| − OpEx | −$77.4k | −$6.16 |
| NOI | $180.7k | $14.37 |
12,572 SF · lease $21.96/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Office B
$5.70M
$4.99M – $6.65M
NOI $398,915 @ 7.0% cap · market cap 16.62%
Second Best
Retail
$2.58M
$2.26M – $3.01M
NOI $180,695 @ 7.0% cap · market cap 7.53%
Theoretical Best
Office A
$7.44M
$6.51M – $8.68M
NOI $520,980 @ 7.0% cap · market cap 21.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
A1 Best Credit ...
Financial Advisor
Cricket Wireless Authorized ...
Mobile Phone Store
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FAQs
What type of property is this?
Storefront property - Multi-use building for sale with off-street parking behind the property, located at the intersection of Routes 135 and 126.
Where is this storefront property located?
The property is located at 15 Hollis Street Framingham, MA.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Multi‑use building built in 1960, located at the intersection of Routes 135 and 126 in downtown Framingham; Off‑street parking behind the building, adjacent to a city parking lot; Approx. 34 parking spaces behind the building (to be verified)
