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    11 Pleasant St Framingham, MA 01701-4707
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    Property profile & analytics

    11 Pleasant St, Framingham, MA 01701-4707

    View on Map
    • Office buildings
    • 25,372 SF
    • 0.63 lot acres
    Off-Market
    Last Sale Jul 1, 2024
    $2,925,000
    Property ID
    US38-0652430
    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.
    Value Estimations
    $2,925,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Genzyme Corporation / Corporate Office

    Property Details for 11 Pleasant St

    Year built
    2000
    Construction
    STEEL FRAME
    Lot size
    0.63 lot acres
    Zone code
    M
    Property type
    Office buildings
    APN
    FRAM M:095 B:83 L:5616 U:000
    APU
    FRAMM095B83L5616U000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 1, 2024 $2,925,000 Crown Two Enterprises LLC 11 Pleasant St Connector Quit Claim Arm's Length For Ne States —
    Mar 27, 2023 — 11 Pleasant St Connector — Deed · related $2.4M · Bp Capital Kv LLC
    Mar 15, 2021 $3,200,000 11 Pleasant St Connector Framingham Office Rlty Quit Claim Arm's Length For Ne States —
    Oct 28, 2020 — Framingham Office Rlty — Deed · related $1.7M · Mutualone Bank
    Oct 28, 2010 — Framingham Office LLC — Deed Of Trust · related $2.6M · Sovereign Bank
    May 30, 2000 — Fafard Re & Dev Corp — Deed Of Trust · related $2.8M · Warren Five Cts Savings

    Description

    This exceptional three-story, Class B executive office building, located at 11 Pleasant St in Framingham, MA (01701), offers 25,200 square feet of versatile space. Situated on a 1.7-acre lot, the property boasts approximately 8,400 square feet per floor, easily accommodating multi-tenant occupancy. Amenities include 83 parking spaces (19 covered), a single elevator, 24-hour access, central heating and air conditioning, a drop ceiling, fully carpeted floors, and abundant natural light. The building features an atrium and controlled access for enhanced security. Each suite includes a kitchenette. Excellent signage visibility is available. The property's previous use as Genzyme's offices makes it ideally suited for medical or biotechnology tenants. The building's location in Middlesex County provides convenient access to major transportation routes.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,925,000
      ML approach
      $2,925,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,229,000
      Market price range: $2.81M - $5.27M
      AI Estimate
      $2,335,000
      Market price range: $455k - $4.66M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,990,000
      Current use
      COMMERCIAL (GENERAL)
      $4,385,000
      Change: +10% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $3,895,000
      Change: -2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Framingham
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.4913
    Latitude
    42.2982
    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
    2024
    $86,691
    $257,300
    $3,154,400
    $3,411,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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    • Value Estimation
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    • Value Estimation
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      64,517 SF

      1891 Worcester Rd

      OFFICE BUILDING
      1891 Worcester Rd, Framingham, MA 01701
      View Details

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      3,822 SF

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      Renovated Boutique Office Building For Sale

      Completely renovated 25,200 SF office building near Route 9/Mass Pike.
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      Multi-Tenanted Office Building For Sale

      Three-story office building with available space for owner/occupant.
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      Renovated Boutique Office Building For Sale

      Completely renovated office building near Route 9/Mass Pike available for sale.
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      12,670 SF

      Multi-Tenanted Office Building For Sale

      Three-story office building with tenant space and parking.
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    Similar Nearby for Lease

    • Contact for pricing
      24,000 SF

      Framingham Office Building For Lease

      Three-story office building near major routes and amenities.
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      View Details
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      8,249 SF

      Framingham Executive Park Office Space

      Attractive office buildings in Framingham Executive Park available for lease.
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      3,290 SF

      MetroWest Office Building For Rent

      First-class office building with amenities and highway access.
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      87,066 SF

      Framingham Office Park with Amenities

      Interconnected office buildings with amenities in a prime MetroWest location.
      500 Old Connecticut Path, Framingham, MA 01701
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      Framingham Office Park Office Space

      Multi-tenant office building with renovated suites and abundant parking.
      1671 Worcester Rd, Framingham, MA 01701
      View Details
    • Contact for pricing
      121,656 SF

      Framingham Office Park with Amenities

      Interconnected office buildings with amenities near Mass Pike.
      500 Old Connecticut Path, Framingham, MA 01701
      View Details
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    Framingham, MA 01701-4707
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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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