Flex Space with
509 E Central St #1, Franklin, MA 02038
For Sale
New
Contact for pricing
A mixed office, showroom, and warehouse layout includes floor drains and existing gas and grease traps.
Property Size7,200 SF
Price / SF$1.46
Days on Market4
Property Features for 509 E Central St #1
General Information
Standard status
Size
Additional Details
Highway Access
Warehouse Space
Building Details
Year Built
Building Size
Listing Agency:
Keller Williams Elite
(508) 528-1000
Listed By:
Matthew Kelly
(508) 294-3869
Source:
Lockandkeyre
Added: Nov 9
Changed: Nov 12
Last Checked: Nov 12 at 2:47PM
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 Keller Williams Elite
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Investment Insights
Based on property information with market context.
Built in 2005, this flex property combines approximately 3,800 square feet of warehouse space with 3,400 square feet of office and retail area. The existing layout includes two private offices, a showroom, two ADA-compliant restrooms, and floor drains. Gas and grease traps are also in place, and the space may be subdivided.
The property is just off Route 140, with on-site parking and signage on the route.
The property is just off Route 140, with on-site parking and signage on the route.
Key Highlights
- Approximately 3,800 square feet of warehouse space and 3,400 square feet of office/retail space
- Layout includes two private offices, a showroom, and two ADA‑compliant restrooms
- Floor drains, gas service, and grease traps are in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,327
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,026,540
$1.0M
Cap Rate 7%
$733,243
$733.2K
Cap Rate 9%
$570,300
$570.3K
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$77.2K $16.08/SF
− Vacancy
−$3.9K −$0.80/SF
EGI
$73.3K $15.28/SF
− OpEx
−$22.0K −$4.58/SF
NOI
$51.3K $10.69/SF
Area
Norfolk County, MA
Vacancy
5.00%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,026,540
Cap Rate 7%
$733,243
Cap Rate 9%
$570,300
Alternative Uses
Best Use
Flex RnD
$1.18M
$1.03M – $1.37M
NOI $82,368 @ 7.0% cap
Second Best
Retail
$1.17M
$1.02M – $1.36M
NOI $81,685 @ 7.0% cap
Theoretical Best
Office A
$2.84M
$2.49M – $3.32M
NOI $198,911 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
238
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
$567,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Flex space in Norfolk County, MA
Properties on Market for Flex space in Norfolk County
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Flex space - A mixed office, showroom, and warehouse layout includes floor drains and existing gas and grease traps.
Where is this flex space located?
The property is located at 509 E Central St #1 Franklin, MA.
What are key features of this property?
This property features: Approximately 3,800 square feet of warehouse space and 3,400 square feet of office/retail space; Layout includes two private offices, a showroom, and two ADA‑compliant restrooms; Floor drains, gas service, and grease traps are in place
