Framingham Mixed-Use Retail
For Sale
Contact for pricing
665 Cochituate Rd, Framingham, MA 01701
10,240 SqFt mixed-use retail and office property for sale.
Property Size10,240 SF
Price / SF$355.18
Days on Market773
Property Features for 665 Cochituate Rd
General Information
Standard status
Active
Size
10,240 SF
Class
B
Total Parking Spaces
60
Property subtype
Retail, Office
Zoning
M-1
Lease Type
NNN
Investment Type
Stabilized
Building Details
Stories
2
Tenancy
Single
Listing Agency:
KeyPoint Partners, LLC
(781) 418-6225
Listed By:
Jonathan Aron · License #RI REB.0015676
Source:
Crexi
Added: Jul 11, 2024
Changed: Aug 13
Last Checked: Aug 21 at 1:12PM
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 KeyPoint Partners, LLC
Investment Insights
Based on property information with market context.
This mixed-use property in Framingham, Massachusetts, offers 10,240 square feet of retail and office space. The property is suitable for commercial real estate purposes.
Key Highlights
- Retail Property
- 10,240 SqFt
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
$324,919
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
8.93%
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%
$6,498,380
$6.5M
Cap Rate 7%
$4,641,700
$4.6M
Cap Rate 9%
$3,610,211
$3.6M
Market Conditions
NOI Build-Up for 10,240 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
$555.4K $54.24/SF
− Vacancy
−$122.2K −$11.93/SF
EGI
$433.2K $42.31/SF
− OpEx
−$108.3K −$10.58/SF
NOI
$324.9K $31.73/SF
Area
Middlesex County, MA
Vacancy
22.00%
Lease Rate
$54.24 /SF/Yr
Expense Ratio
25.00%
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%
$6,498,380
Cap Rate 7%
$4,641,700
Cap Rate 9%
$3,610,211
Alternative Uses
Best Use
Office B
$4.64M
$4.06M – $5.42M
NOI $324,919 @ 7.0% cap · market cap 8.93%
Second Best
Mixed Use
$2.41M
$2.11M – $2.82M
NOI $168,960 @ 7.0% cap · market cap 4.65%
Theoretical Best
Office A
$6.06M
$5.30M – $7.07M
NOI $424,343 @ 7.0% cap · market cap 11.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,285
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 - 10,240 SqFt mixed-use retail and office property for sale.
Where is this mixed-use property located?
The property is located at 665 Cochituate Rd Framingham, MA.
What is the asking price?
The asking price for this property is $3,637,000.
What are key features of this property?
This property features: Retail Property; 10,240 SqFt
