Retail Redevelopment Site with
For Sale
$1,200,000
745 Worcester Rd, Framingham, MA 01701
Two-building retail redevelopment site with overhead door, 2-bay garage, and about 82 feet of frontage on Route 9.
Property Size4,720 SF
Lot Size0.46 Acres
Price / SF$254.24
Days on Market187
Property Features for 745 Worcester Rd
General Information
Standard status
Active
Size
4,720 SF
Lot size
0.46 Acres
Property subtype
Retail
Zoning
Business B
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
4,720 SF
Year Built
1920
Listing Agency:
Kelleher & Sadowsky
Listed By:
Todd Alexander · License #9521385
(508) 981-7014
Source:
Kelleher-sadowsky
Added: Mar 3
Changed: Sep 5
Last Checked: Sep 5 at 5:50AM
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 Kelleher & Sadowsky
Investment Insights
Based on property information with market context.
745 Worcester Road presents a retail redevelopment opportunity on two lots totaling ±0.46 acres. The site includes two existing buildings totaling 4,720 SF and features a large overhead door plus a 2-bay garage, supporting a variety of retail and service-oriented layouts.
The property has approximately 82 feet of frontage on Route 9 and one curb cut, providing direct access for customer traffic and prominent signage opportunities. Zoned Business B, the property allows a full range of retail and service businesses, with development standards intended to maintain an open street appearance and compatibility with adjacent residential areas.
The area is supported by nearby retail and entertainment, including Shoppers World and the Framingham Community Theater, along with local recreation at Framingham Country Club and Cushing Memorial Park.
The property has approximately 82 feet of frontage on Route 9 and one curb cut, providing direct access for customer traffic and prominent signage opportunities. Zoned Business B, the property allows a full range of retail and service businesses, with development standards intended to maintain an open street appearance and compatibility with adjacent residential areas.
The area is supported by nearby retail and entertainment, including Shoppers World and the Framingham Community Theater, along with local recreation at Framingham Country Club and Cushing Memorial Park.
Key Highlights
- Two‑building retail redevelopment site on Route 9 with about 82 ft of frontage and 1 curb cut
- Two lots totaling about 0.46 acres with approximately 4,720 SF across two existing buildings
- One building includes a large overhead door and a 2‑bay garage
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
$67,840
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
5.65%
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%
$1,356,800
$1.4M
Cap Rate 7%
$969,143
$969.1K
Cap Rate 9%
$753,778
$753.8K
Market Conditions
NOI Build-Up for 4,720 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
$103.7K $21.96/SF
− Vacancy
−$6.7K −$1.43/SF
EGI
$96.9K $20.53/SF
− OpEx
−$29.1K −$6.16/SF
NOI
$67.8K $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%
$1,356,800
Cap Rate 7%
$969,143
Cap Rate 9%
$753,778
Alternative Uses
Best Use
Retail
$969.1K
$848.0K – $1.13M
NOI $67,840 @ 7.0% cap · market cap 5.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.79M
$2.44M – $3.26M
NOI $195,596 @ 7.0% cap · market cap 16.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,145
Businesses Nearby
Explore this area
Business Placement
Demographics for 01701, MA
33,005
Population
13,131
Households
2.5
Avg Household Size
44
Median Age
61%
College-Educated
95%
High-School Grad
16.9 sq mi
ZIP Area
1,953
Density / Sq Mi
$127,000
Median Household Income
$69,672
Median Earnings
$1,973
Median Rent
$612,600
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 - Two-building retail redevelopment site with overhead door, 2-bay garage, and about 82 feet of frontage on Route 9.
Where is this retail space located?
The property is located at 745 Worcester Rd Framingham, MA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two‑building retail redevelopment site on Route 9 with about 82 ft of frontage and 1 curb cut; Two lots totaling about 0.46 acres with approximately 4,720 SF across two existing buildings; One building includes a large overhead door and a 2‑bay garage
