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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1508 Concord St Framingham, MA 01701-7700

    • Investment properties
    • 2,026 SF
    • 0.08 lot acres
    OFF-MARKET
    Last Sale
    May 20, 2021
    $225,000
    Value Estimations
    $265,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1348578
    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

    • Best Cuts / Hair Salon / Barber Shop

    Property Details for 1508 Concord St

    Year built
    1900
    Construction
    FRAME
    Lot size
    0.08 lot acres
    Property size
    2,026 SF
    Zone code
    B-1
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    FRAM M:050 B:32 L:8099 U:000
    APU
    FRAMM050B32L8099U000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $230,000
      ML approach
      $235,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $380,000
      Market price range: $179k - $506k
      AI Estimate
      $139,000
      Market price range: $28.7k - $230k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $350,000
      Current use
      OFFICE BUILDING
      $320,000
      Change: -9% Conversion: Easy
      WAREHOUSE, STORAGE
      $295,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Framingham
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.3975
    Latitude
    42.3212
    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
    $0.00
    $227,100
    $151,700
    $378,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $250,000
      2,602 SF

      51 Beacon St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,602 SF
      51 Beacon St, Framingham, MA 01701-4906
      View Details
    • Value Estimation
      $230,000
      2,409 SF

      45 Beulah St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,409 SF
      45 Beulah St, Framingham, MA 01701-5243
      View Details
    • Value Estimation
      $620,000
      2,841 SF

      23 Walsh St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,841 SF
      23 Walsh St, Framingham, MA 01701-5336
      View Details
    • Value Estimation
      $235,000
      3,898 SF

      12 Watson Pl

      OFFICE/RESIDENTIAL (MIXED USE) • 3,898 SF
      12 Watson Pl, Framingham, MA 01701-4109
      View Details
    • Value Estimation
      $255,000
      2,810 SF

      535 Worcester Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,810 SF
      535 Worcester Rd, Framingham, MA 01701-5364
      View Details
    • Value Estimation
      $400,000
      1,760 SF

      967 Worcester Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,760 SF
      967 Worcester Rd, Framingham, MA 01701-5227
      View Details

    Similar Nearby for Sale

    • $4,666,000

      Framingham Mixed-Use Investment

      10,240 SF Office/Retail, Strong Income
      665 Cochituate Rd, Framingham, MA 01701
      View Details
    • $3,800,000
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      Framingham Office Building Investment

      Prime Office Space, High Visibility
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      25,200 SF

      Renovated Office Building in Framingham

      Completely renovated office building available for sale or lease.
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      6,552 SF

      Turn-Key Retail Space on Golden Mile

      Fully renovated retail space in Framingham's thriving commercial corridor.
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      Commercial Property with Showroom Potential

      Commercial property suitable for showroom or condo conversion project.
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    • $950,000
      3,822 SF

      Renovated Office and Retail Property

      Freestanding office/retail building with flexible space and high visibility.
      211 Cochituate Rd, Framingham, MA 01701
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    Similar Nearby for Lease

    • Contact for pricing
      10,000 SF

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      Framingham, MA: Prime Retail Opportunity
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      View Details
    • $24 SF/Yr
      4,284 SF

      Signature Office Building For Lease

      Four-story office building with modern amenities and flexible layouts.
      463 Worcester Rd, Framingham, MA 01701
      View Details
    • $28 SF/Yr
      3,400 SF

      Framingham Office Space For Rent

      Office space in prime Metrowest corporate area with superb access.
      40 Speen St, Framingham, MA 01701
      View Details
    • Contact for pricing
      3,101 SF

      Framingham Office Park Suites Available

      Multi-tenant office building with modern amenities and abundant parking.
      1661 Worcester Rd, Framingham, MA 01701
      View Details
    • Contact for pricing
      26,700 SF

      Framingham Retail Opportunity on Route 9

      Retail space available on Route 9 in Framingham.
      84 Worcester Rd, Framingham, MA 01701
      View Details
    • $17 SF/Yr
      1,600 SF

      Framingham Flex Space Available

      Flex space available in Framingham, Massachusetts.
      2 Central St, Framingham, MA 01701
      View Details
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    1508 Concord St
    Framingham, MA 01701-7700
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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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