Mixed-Use Building with
For Sale
Contact for pricing
79 Franklin St, Framingham, MA 01702
Four apartments and a street-level office create a flexible residential and commercial configuration.
Property Size4,902 SF
Lot Size0.24 Acres
Price / SF$234.60
Days on Market147
Property Features for 79 Franklin St
General Information
Standard status
Active
Size
4,902 SF
Class
B
Lot size
0.24 Acres
Property subtype
Multifamily, Office
Zoning
CB
Occupancy
50%
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 1BR, 1 x studio
Multifamily Units
4
Office Units
1
Additional Details
Floor
First
Building Details
Year Built
1900
Buildings
1
Stories
2
Units
4
Building Size
4,902 SF
Tenancy
Single
Owner Occupied
No
Abandoned
No
Listing Agency:
Gordon Real Estate
(508) 370-3333
Listed By:
Jon Gordon · License #MA9538444
Source:
Crexi
Added: Apr 6
Changed: Aug 29
Last Checked: Aug 29 at 1:04PM
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 Gordon Real Estate
Investment Insights
Based on property information with market context.
This 4,902 SF mixed-use building on .24 acre combines four residential apartments with a 2,250 SF street-level office. The residential component includes three one-bedroom units and one studio, with each apartment separately metered for utilities. Two units are rented and two have recently become vacant. The office is currently occupied by a law firm and includes four offices, a conference room, en suite bathrooms, and exterior signage facing the street. Approximately 700 SF of basement space provides storage or overflow work area, while the office level may also be converted to additional residential units.
The property is located at 79 Franklin St in Framingham, one block from City Hall and two blocks from MetroWest Medical Center. The public transit train station is a short walk away, with Route 135 nearby and Route 9 minutes from the property. More than one hundred restaurants, cafes, retail stores, and other service businesses are within walking distance.
The property is located at 79 Franklin St in Framingham, one block from City Hall and two blocks from MetroWest Medical Center. The public transit train station is a short walk away, with Route 135 nearby and Route 9 minutes from the property. More than one hundred restaurants, cafes, retail stores, and other service businesses are within walking distance.
Key Highlights
- 4,902 SF mixed‑use building on .24 acre
- Four apartments: three one‑bedroom units and one studio
- 2,250 SF street‑level office with four offices and a conference room
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
$97,533
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
8.48%
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%
$1,950,660
$2.0M
Cap Rate 7%
$1,393,329
$1.4M
Cap Rate 9%
$1,083,700
$1.1M
Market Conditions
NOI Build-Up for 4,902 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
$187.1K $38.16/SF
− Vacancy
−$9.7K −$1.98/SF
EGI
$177.3K $36.18/SF
− OpEx
−$79.8K −$16.28/SF
NOI
$97.5K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /SF/Yr
Expense Ratio
45.00%
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%
$1,950,660
Cap Rate 7%
$1,393,329
Cap Rate 9%
$1,083,700
Alternative Uses
Best Use
Office B
$2.22M
$1.94M – $2.59M
NOI $155,542 @ 7.0% cap · market cap 13.53%
Second Best
Apartment 5plus
$1.39M
$1.22M – $1.63M
NOI $97,533 @ 7.0% cap · market cap 8.48%
Theoretical Best
Office A
$2.90M
$2.54M – $3.39M
NOI $203,138 @ 7.0% cap · market cap 17.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
4
Residential units
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,268
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four apartments and a street-level office create a flexible residential and commercial configuration.
Where is this mixed-use property located?
The property is located at 79 Franklin St Framingham, MA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 4,902 SF mixed‑use building on .24 acre; Four apartments: three one‑bedroom units and one studio; 2,250 SF street‑level office with four offices and a conference room
