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    Property profile & analytics

    1 Worcester Rd Framingham, MA 01701-5359

    • Commercial real estate
    • 596,993 SF
    • 105.05 lot acres
    OFF-MARKET
    Last Sale
    Mar 21, 2024
    $101,627,167
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1827312
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • PetSmart Grooming / Pet Grooming Service
    • SEPHORA at Kohl's / (Bike/Boat/Book/etc) Store / Cosmetic Store
    • Ulta Beauty / Cosmetic Store
    • UPS Access Point location / Courier Service / Postal Service
    • The Fine Rug Gallery at Macys / Home Decor Store / Department Store

    Property Details for 1 Worcester Rd

    Year built
    1997
    Construction
    FRAME
    Lot size
    105.05 lot acres
    Property size
    596,993 SF
    Zone code
    B
    Property type
    Commercial real estate
    APN
    FRAM M:094 B:55 L:1386 U:000
    APU
    FRAMM094B55L1386U000

    Description

    Shoppers World, a prominent 758,040 square foot open-air shopping center in Framingham, Massachusetts, offers exceptional retail opportunities. Located in the heart of the Golden Triangle, the largest retail destination in the Boston area, this center boasts a strong tenant mix and high foot traffic. Currently, three retail spaces are available, ranging from 1,936 to 1,969 square feet, ideal for a variety of businesses. The property features ample parking with 4263 spaces, ensuring convenient access for customers. Shoppers World is anchored by well-known national retailers such as AMC Theaters, Best Buy, World Market, Ulta, TJ Maxx, Nordstrom Rack, PetSmart, and Olive Garden, providing a diverse and attractive shopping experience. This prime location in Middlesex County, with the address 1 Worcester Rd, Framingham, MA 01701, offers excellent visibility and accessibility, making it an ideal investment for businesses seeking a thriving retail environment. The property is classified as retail and restaurant space with multiple tenancies. This presents a unique opportunity to establish a presence in a high-traffic, established shopping center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      Off market
      ML approach
      Off market

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $103,226,000
      Market price range: $52.8M - $149M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $103,225,000
      Current use
      AUTO REPAIR, GARAGE
      $168,030,000
      Change: +63% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $165,410,000
      Change: +60% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $137,555,000
      Change: +33% Conversion: Moderate
      RETAIL STORES
      $128,190,000
      Change: +24% Conversion: Easy
      OFFICE BUILDING
      $93,925,000
      Change: -9% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $91,640,000
      Change: -11% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Framingham
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.3928
    Latitude
    42.3028
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $4,030,094
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,390,000
      9,056 SF

      901 Edgell Rd

      COMMERCIAL (GENERAL) • 9,056 SF
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      View Details
    • Value Estimation
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      42,300 SF

      1 Nicholas Rd

      COMMERCIAL (GENERAL) • 42,300 SF
      1 Nicholas Rd, Framingham, MA 01701-3483
      View Details
    • Value Estimation
      $9,335,000
      101,742 SF

      740 Cochituate Rd

      SHOW ROOM, WAREHOUSE • 101,742 SF
      740 Cochituate Rd, Framingham, MA 01701-4667
      View Details
    • Value Estimation
      $3,990,000
      28,496 SF

      510 Cochituate Rd

      COMMERCIAL (GENERAL) • 28,496 SF
      510 Cochituate Rd, Framingham, MA 01701-4628
      View Details
    • Value Estimation
      $15,565,000
      166,800 SF

      1455th Concord St

      COMMERCIAL (GENERAL) • 166,800 SF
      1455th Concord St, Framingham, MA 01701-7726
      View Details
    • Value Estimation by Request
      1.42 Acres

      Waverley St

      COMMERCIAL (GENERAL) • 1.42 Acres
      Waverley St, Framingham, MA 01701
      View Details

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    Similar Nearby for Lease

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    1 Worcester Rd
    Framingham, MA 01701-5359
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    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
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