Commercial Real Estate Market in Franklin, MA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
93 active listings and 472 off-market properties in Franklin, MA. Commercial property asks $505/SF to buy and $22.27/SF/Yr to lease.
Market Trends
Franklin, MA spans 26.6 square miles in Norfolk County, Massachusetts. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Franklin, MA runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
Retail
Retail vacancy in Franklin, MA runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Franklin, MA runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in Franklin, MA asks $386/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 80.6%
- Industrial 17.4%
- Commercial 1.8%
- Mixed use 0.2%
Largest Zones share of zoned land by district
Rural Residential I
Single Family III
Rural Residential II
Industrial
Single Family IV
Franklin, MA zones 17,368 acres across 15 districts. Commercial zoning covers 1.8% of zoned land, residential 80.6% and industrial 17.4%. The largest single district is Rural Residential I at 46.7%. For commercial buyers the practical constraint is that only 19.2% of land carries a commercial or industrial designation.
Rural Residential I (RRI)
The Rural Residential Districts (RRI, RRII) are intended primarily for single-family residential uses in a rural and semirural environment. Agricultural uses are generally permitted. Generally, commercial and industrial uses are not permitted. (2) The Single-Family Residential Districts (SFRIII, SFRIV) are intended primarily for single-family residential use…
Market overview
Demographics & Economy
Franklin, MA has 33,261 residents in 12,889 households. Density runs 1,249 people per square mile. Median household income here is $142,788 and median gross rent $1,856 a month.
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
1,249
Density / Sq Mi
$142,788
Median Household Income
$67,728
Median Earnings
$1,856
Median Rent
$567,100
Median Home Value
Tools
Lease vs Buy Breakeven
At $22.27/SF/Yr lease vs $505/SF buy → buying wins if held > 15.4 years.
At a 4.4% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Wrentham | — | $14.07 |
| Bellingham | — | — |
| Medway | — | — |
| Norfolk | — | — |
Commercial property in Franklin, MA asks $505/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Franklin?
Commercial property in Franklin, MA asks an average of $505 per square foot. The 6 most recent recorded sales traded at a median of $463/SF, so asking sits 9% above the achieved median. Multifamily carries the highest asking price at $386/SF.
How much does it cost to lease commercial space in Franklin?
Asking lease rates in Franklin, MA average $22.27 per square foot per year.
Is it cheaper to lease or buy commercial space in Franklin?
Buying beats leasing in Franklin, MA if the property is held longer than 15.4 years, comparing $22.27/SF/Yr asking rent with $505/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
What zoning applies to commercial property in Franklin?
Franklin, MA zones 17,368 acres across 15 districts, of which 1.8% is commercial and 17.4% industrial. The largest single district is Rural Residential I at 46.7% of zoned land. The Rural Residential Districts (RRI, RRII) are intended primarily for single-family residential uses in a rural and semirural environment. Agricultural uses are generally permitted. Generally, commercial and industrial uses are not permitted. (2) The Single-Family Residential Districts (SFRIII, SFRIV) are intended primarily for single-family residential use… Residential zoning covers 80.6% and open space 0%.
Where does Realmo's Franklin market data come from?
Realmo compiles Franklin, MA figures from 6 recent recorded sales, 21 active sale listings, 72 active lease listings, 472 tracked off-market properties, the current Franklin zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 21 active for-sale and 72 active for-lease listings in Franklin, MA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 17,368 zoned acres across 15 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
