Flex Space with Industrial
For Sale
Contact for pricing
29 Franklin St, Needham, MA 02494
Previously built-out office area connects to an industrial-size garage, with parking directly outside and flexible leasing discussions.
Property Size3,635 SF
Price / SF$0.01
Days on Market219
Property Features for 29 Franklin St
General Information
Standard status
Active
Size
3,635 SF
Property subtype
Commercial
Zoning
M128
Lease Type
NNN
Additional Details
Flexible Term
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$20,703
Amenities
private front entrance
seating area
two bathrooms
waiting area
large open area
countertops desks
kitchen
three private offices
common area
supply closet
industrial size garage
Building Details
Building Size
3,635 SF
Year Built
1955
Listing Agency:
Coldwell Banker Realty - Westwood
(781) 320-0550
Listed By:
Kristen Meleedy
(774) 406-6533
Source:
Churchillprop
Added: Mar 28
Changed: Oct 31
Last Checked: Oct 30 at 12:46PM
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 - Westwood
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This flex space includes a private front entrance with a seating area and two bathrooms. Inside, a waiting area opens to a large room with countertops and desks, followed by a hallway leading to a kitchen and three private offices. From the same hallway, the layout continues to a common area with a supply closet and opens to an industrial-size garage.
The property offers easy access to the highway. Parking is available directly outside the building. Nearby are Sheraton Boston Needham (about 0.06 miles) and Needham Heights commuter rail (about 1.3 miles).
The space was previously used as a cannabis establishment and may be adaptable for other commercial activities. The zoning description includes commercial uses such as equipment rental and accessory retail sales, with potential uses such as veterinary offices subject to a special permit. The seller indicates the garage can be discussed as a separate lease from the office area.
The property offers easy access to the highway. Parking is available directly outside the building. Nearby are Sheraton Boston Needham (about 0.06 miles) and Needham Heights commuter rail (about 1.3 miles).
The space was previously used as a cannabis establishment and may be adaptable for other commercial activities. The zoning description includes commercial uses such as equipment rental and accessory retail sales, with potential uses such as veterinary offices subject to a special permit. The seller indicates the garage can be discussed as a separate lease from the office area.
Key Highlights
- 1955‑built commercial space with private front entrance and waiting/seating area
- Large open office area with countertops and desks, plus three private offices and kitchen
- Two bathrooms and a hallway layout connecting offices to a common area with supply closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,665
Suggested Prices Based on Cap Rates
Cap Rate 5%
$773,300
$773.3K
Cap Rate 7%
$552,357
$552.4K
Cap Rate 9%
$429,611
$429.6K
Market Conditions
NOI Build-Up for 3,635 SF
Gross rent
$58.5K $16.08/SF
− Vacancy
−$3.2K −$0.88/SF
EGI
$55.2K $15.20/SF
− OpEx
−$16.6K −$4.56/SF
NOI
$38.7K $10.64/SF
Area
Norfolk County, MA
Vacancy
5.50%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$773,300
Cap Rate 7%
$552,357
Cap Rate 9%
$429,611
Alternative Uses
Best Use
Flex RnD
$891.1K
$779.7K – $1.04M
NOI $62,377 @ 7.0% cap · market cap 215,093.10%
Second Best
Industrial
$552.4K
$483.3K – $644.4K
NOI $38,665 @ 7.0% cap · market cap 133,327.59%
Theoretical Best
Office A
$2.15M
$1.88M – $2.51M
NOI $150,633 @ 7.0% cap · market cap 519,424.14%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,151
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 02494, MA
10,732
Population
4,254
Households
2.5
Avg Household Size
43
Median Age
75%
College-Educated
95%
High-School Grad
2.8 sq mi
ZIP Area
3,833
Density / Sq Mi
$173,750
Median Household Income
$92,148
Median Earnings
$2,452
Median Rent
$1,052,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Flex space - Previously built-out office area connects to an industrial-size garage, with parking directly outside and flexible leasing discussions.
Where is this flex space located?
The property is located at 29 Franklin St Needham, MA.
What are key features of this property?
This property features: 1955‑built commercial space with private front entrance and waiting/seating area; Large open office area with countertops and desks, plus three private offices and kitchen; Two bathrooms and a hallway layout connecting offices to a common area with supply closet
