Framingham Mixed-Use Commercial
For Sale
$3,199,000
861 Edgell Road, Framingham, MA 01701
16,535 SF mixed-use building in thriving MetroWest location.
Property Size16,535 SF
Lot Size1.04 Acres
Price / SF$193.47
Days on Market328
Property Features for 861 Edgell Road
General Information
Standard status
Active
Size
16,535 SF
Lot size
1.04 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$67,814
Amenities
Rubber Roof
Building Details
Year Built
1974
Listing Agency:
eXp Realty
(888) 854-7493
Listed By:
The Prosperity Group · License #8214994
Source:
Corcoran
Added: Sep 18, 2025
Changed: Aug 9
Last Checked: Aug 9 at 8:07PM
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 eXp Realty
Investment Insights
Based on property information with market context.
The property at 861 Edgell Road in Framingham, Massachusetts, offers a 16,535 square foot commercial building situated on 1.04 acres. This mixed-use property features a combination of retail and office spaces, providing flexible layouts suitable for various tenants or an owner-user. The building benefits from ample on-site parking and excellent visibility along a well-traveled corridor. Located in the heart of MetroWest, the property has convenient access to Route 9, I-90 (Mass Pike), and I-495. Framingham is a thriving community and a regional hub for employment, education, and retail, attracting consistent demand from businesses and consumers. This property presents investors and owner-occupants with an opportunity to secure a well-positioned, multi-use asset with scale, parking, and strong visibility in a desirable submarket west of Boston. The property offers both income potential and long-term stability.
Key Highlights
- 16,535 sq ft commercial building on 1.04 acres in Framingham, MA
- Versatile mix of retail and office space
- Ample on‑site parking
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
$272,828
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
8.53%
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%
$5,456,560
$5.5M
Cap Rate 7%
$3,897,543
$3.9M
Cap Rate 9%
$3,031,422
$3.0M
Market Conditions
NOI Build-Up for 16,535 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
$496.1K $30.00/SF
− Vacancy
−$59.5K −$3.60/SF
EGI
$436.5K $26.40/SF
− OpEx
−$163.7K −$9.90/SF
NOI
$272.8K $16.50/SF
Area
Middlesex County, MA
Vacancy
12.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$5,456,560
Cap Rate 7%
$3,897,543
Cap Rate 9%
$3,031,422
Alternative Uses
Best Use
Office B
$7.50M
$6.56M – $8.74M
NOI $524,662 @ 7.0% cap · market cap 16.40%
Second Best
Mixed Use
$3.90M
$3.41M – $4.55M
NOI $272,828 @ 7.0% cap · market cap 8.53%
Theoretical Best
Office A
$9.79M
$8.57M – $11.42M
NOI $685,206 @ 7.0% cap · market cap 21.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
207
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 16,535 SF mixed-use building in thriving MetroWest location.
Where is this mixed-use property located?
The property is located at 861 Edgell Road Framingham, MA.
What is the asking price?
The asking price for this property is $3,199,000.
What are key features of this property?
This property features: 16,535 sq ft commercial building on 1.04 acres in Framingham, MA; Versatile mix of retail and office space; Ample on‑site parking
