Flexible Retail and Office
For Sale
$375,000
371 Grant Street, Framingham, MA 01702
Versatile open-layout retail space with flexible use potential and convenient access in a neighborhood setting.
Property Size1,000 SF
Price / SF$375
Days on Market144
Property Features for 371 Grant Street
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Commercial
Building Details
Year Built
2025
Listing Agency:
Coldwell Banker Realty - Framingham
Listed By:
Donna Gittelsohn
(617) 846-8000
Source:
Highlandre
Added: Apr 15
Changed: Sep 4
Last Checked: Sep 4 at 10:43AM
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 - Framingham
Investment Insights
Based on property information with market context.
This versatile retail space offers an open layout designed for customization to fit a range of business needs. The property is positioned as a flexible option for uses such as retail, service-based businesses, a boutique office or studio, medical/beauty, specialty food concepts, or professional services, subject to zoning and municipal approvals.
The location is described as having strong frontage, high visibility, and convenient access, with ample parking. The public remarks also note proximity to local transit and nearby routes including 30/9/135 and the Mass Pike.
Prospective buyers and tenants should conduct their own due diligence regarding zoning, permitted uses, and any required approvals, as well as independently verify all information including size, utilities, and compliance with local regulations.
The location is described as having strong frontage, high visibility, and convenient access, with ample parking. The public remarks also note proximity to local transit and nearby routes including 30/9/135 and the Mass Pike.
Prospective buyers and tenants should conduct their own due diligence regarding zoning, permitted uses, and any required approvals, as well as independently verify all information including size, utilities, and compliance with local regulations.
Key Highlights
- Year built: 2025
- Open layout retail space with flexibility to customize for a variety of business uses
- Suitable for retail, service‑based businesses, boutique office/studio, and professional services (subject to zoning and municipal approvals)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,373
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$287,460
$287.5K
Cap Rate 7%
$205,329
$205.3K
Cap Rate 9%
$159,700
$159.7K
Market Conditions
NOI Build-Up for 1,000 SF
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.
Gross rent
$22.0K $21.96/SF
− Vacancy
−$1.4K −$1.43/SF
EGI
$20.5K $20.53/SF
− OpEx
−$6.2K −$6.16/SF
NOI
$14.4K $14.37/SF
Area
Middlesex County, MA
Vacancy
6.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$287,460
Cap Rate 7%
$205,329
Cap Rate 9%
$159,700
Alternative Uses
Best Use
Retail
$205.3K
$179.7K – $239.6K
NOI $14,373 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$592.0K
$518.0K – $690.7K
NOI $41,440 @ 7.0% cap · market cap 11.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
947
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Versatile open-layout retail space with flexible use potential and convenient access in a neighborhood setting.
Where is this retail space located?
The property is located at 371 Grant Street Framingham, MA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Year built: 2025; Open layout retail space with flexibility to customize for a variety of business uses; Suitable for retail, service‑based businesses, boutique office/studio, and professional services (subject to zoning and municipal approvals)
