Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    250 Franklin Village Dr Franklin, MA 02038
    Back to Search
    Property profile & analytics

    250 Franklin Village Dr Franklin, MA 02038

    View on Map
    • Lifestyle centers
    • 303,144 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • LongHorn Steakhouse / Restaurant
    • Franklin Village Plaza / Shopping Center & Mall
    • Tesla Supercharger / Electric Vehicle Charging Station
    • Mattress Firm Franklin / Furniture & Home Goods

    Property Details for 250 Franklin Village Dr

    Year built
    1987
    Property size
    303,144 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Franklin Village Plaza, a premier shopping center in Norfolk County, Massachusetts, offers a unique retail investment opportunity. This 303,144 square foot center, situated on a 33.66-acre lot, boasts 1,486 parking spaces and is conveniently located off Route I-495, Exit 17, serving the greater Boston area. Built in 1987, the property currently features four suites, with 9,050 square feet of vacant space available. Spaces range from a minimum of 1,000 square feet to a maximum contiguous space of 3,200 square feet. The center enjoys high foot traffic due to its strategic location and diverse tenant mix, including national brands like Marshalls, Men's Warehouse, Bob's Discount Furniture, and Panera Bread, as well as a Stop & Shop anchor tenant. In addition to these established businesses, Franklin Village Plaza houses several popular local businesses, offering a unique blend of national and local retail experiences. This diverse tenant roster caters to a broad range of customer needs, ensuring consistent foot traffic and strong potential for future growth. The property's ample parking and convenient location make it an attractive destination for shoppers in the region. This is an exceptional opportunity to acquire a well-established retail property in a thriving market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Norfolk
    State
    Massachusetts
    Longitude
    -71.4233
    Latitude
    42.0893

    Comparable in this City

    • Value Estimation
      $14,875,000
      108,202 SF

      100 Corporate Dr

      DEPARTMENT STORE • 108,202 SF
      100 Corporate Dr, Franklin, MA 02038-3184
      View Details
    • Value Estimation by Request
      175,000 SF

      303 Central St

      Individual retail properties • 175,000 SF
      303 Central St, Franklin, MA 02038
      View Details
    • Value Estimation by Request
      244,940 SF

      250 Franklin Village Dr

      Retail properties & Spaces • 244,940 SF
      250 Franklin Village Dr, Franklin, MA 02038
      View Details
    • Value Estimation
      $5,015,000
      10,040 SF

      471 Central St, Unit 479

      REGIONAL SHOPPING CENTER, MALL • 10,040 SF
      471 Central St, Franklin, MA 02038-2901
      View Details
    • Value Estimation by Request
      7,096 SF

      20 Central St

      REGIONAL SHOPPING CENTER, MALL • 7,096 SF
      20 Central St, Franklin, MA 02038-2174
      View Details
    • Value Estimation
      $890,000
      14,203 SF

      248 Central St, Unit 260

      REGIONAL SHOPPING CENTER, MALL • 14,203 SF
      248 Central St, Franklin, MA 02038-1319
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Versatile Investment or Owner-Occupied Property

      Over 8,500 sq ft of rentable space available.
      3 Bent St, Franklin, MA 02038
      View Details
    • $550,000
      0.64 Acres

      Franklin Homesite in Exclusive Subdivision

      Exceptional 0.64-acre homesite with well in desirable Franklin community.
      Adin St, Franklin, MA 02038
      View Details
    • Contact for pricing

      Franklin Office Building For Sale

      8,500 sq ft rentable space, updated and maintained.
      3 Bent St, Franklin, MA 02038
      View Details
    • $1,800,000
      0.84 Acres

      326 Union St, Franklin, MA 02038

      Commercial real estate • 0.84 Acres
      326 Union St, Franklin, MA 02038
      View Details
    • $1,450,000
      0.45 Acres

      55 Central St, Franklin, MA 02038

      Commercial real estate • 0.45 Acres
      55 Central St, Franklin, MA 02038
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Class A Office/Retail Building

      Two-story Class A building with professional office and retail tenants.
      500 Franklin Village Dr, Franklin, MA 02038
      View Details
    • Contact for pricing

      Grocery-Anchored Shopping Center For Rent

      Premier shopping center anchored by Shaws Supermarket in Franklin, MA.
      303 E Central St, Franklin, MA 02038
      View Details
    • Contact for pricing
      3,200 SF

      Retail Space in Franklin Center

      Retail space available within a premier shopping center.
      250 Franklin Village Dr, Franklin, MA 02038
      View Details
    • Contact for pricing

      Franklin Village Plaza Retail Space

      Premier shopping center with diverse tenants and high foot traffic.
      250 Franklin Village Dr, Franklin, MA 02038
      View Details
    • $1,000 /Mo
      200 SF

      Prime ATM Space Available

      ATM space in high-traffic retail area near I-495.
      435 W Central St, Franklin, MA 02038
      View Details
    • $1,000 /Mo

      ATM Space in Retail Corridor

      ATM space available in high-traffic retail area near I-495.
      435 W Central St, Franklin, MA 02038
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    250 Franklin Village Dr
    Franklin, MA 02038
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    250 Franklin Village Dr, Franklin, MA, 02038
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!