First-Floor Medical Office
For Sale
Contact for pricing
397 E Central St, Franklin, MA 02038
Professional space with flexible divisibility and Office zoning supports medical and office configurations.
Property Size5,200 SF
Price / SF$0.00
Days on Market284
Property Features for 397 E Central St
General Information
Standard status
Active
Size
5,200 SF
Net Rentable
5,200 SF
Property subtype
Commercial
Zoning
Office
Additional Details
Floor
First Floor
Taxes and HOA fees
Annual Taxes
$24,752
Building Details
Building Size
5,200 SF
Year Built
1974
Listing Agency:
Atlantic Commercial Real Estate, LLC
(781) 551-8888
Listed By:
Mark Kearins · License #138273-RE-B
Source:
Churchillprop
Added: Jan 6
Changed: Oct 6
Last Checked: Oct 16 at 7:34AM
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 Atlantic Commercial Real Estate, LLC
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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 first-floor medical and professional office property contains ±5,200 square feet of rentable space within a building constructed in 1974. The layout may be divided into multiple suites, providing flexibility for professional or healthcare users. Office zoning supports the property's stated office-oriented use profile.
The property is located at 397 E Central St in Franklin, Massachusetts, providing a defined address for medical and professional office occupancy.
The property is located at 397 E Central St in Franklin, Massachusetts, providing a defined address for medical and professional office occupancy.
Key Highlights
- ±5,200 SF of first‑floor medical and professional office space
- Potentially divisible layout for multiple suites
- Office zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,825
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,876,500
$1.9M
Cap Rate 7%
$1,340,357
$1.3M
Cap Rate 9%
$1,042,500
$1.0M
Market Conditions
NOI Build-Up for 5,200 SF
Gross rent
$174.7K $33.60/SF
− Vacancy
−$18.3K −$3.53/SF
EGI
$156.4K $30.07/SF
− OpEx
−$62.5K −$12.03/SF
NOI
$93.8K $18.04/SF
Area
Norfolk County, MA
Vacancy
10.50%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,876,500
Cap Rate 7%
$1,340,357
Cap Rate 9%
$1,042,500
Alternative Uses
Best Use
Office B
$1.63M
$1.43M – $1.90M
NOI $114,108 @ 7.0% cap · market cap 633,933.33%
Second Best
Healthcare Medical
$1.34M
$1.17M – $1.56M
NOI $93,825 @ 7.0% cap · market cap 521,250.00%
Theoretical Best
Office A
$3.08M
$2.69M – $3.59M
NOI $215,487 @ 7.0% cap · market cap 1,197,150.00%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
385
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02038, MA
33,261
Population
12,889
Households
2.6
Avg Household Size
41
Median Age
56%
College-Educated
97%
High-School Grad
26.6 sq mi
ZIP Area
1,250
Density / Sq Mi
$142,788
Median Household Income
$67,728
Median Earnings
$1,856
Median Rent
$567,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Similar Off Market Nearby
- Franklin Veterinary Clinic — 430 E Central St, Franklin, MA 02038
Frequently Asked Questions
What type of property is this?
Medical Office Space - Professional space with flexible divisibility and Office zoning supports medical and office configurations.
Where is this medical office space located?
The property is located at 397 E Central St Franklin, MA.
What are key features of this property?
This property features: ±5,200 SF of first‑floor medical and professional office space; Potentially divisible layout for multiple suites; Office zoning
