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Property profile & analytics
FOR LEASE
Manufacturing properties
190 Fountain St, Framingham, MA 01702
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US38-0760363
For Lease
1 / 24
$6,100,000
190 Fountain St, Framingham, MA 01702
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Property summary
AI-generated overview
This ±32,696 square foot warehouse building at 190 Fountain Street in Framingham, Massachusetts, presents a unique investment opportunity. Located in Middlesex County, zip code 01702, this industrial property, built in 1956, offers flexible space options ranging from a minimum of 2,100 square feet to a maximum contiguous space of 16,595 square feet. Currently, 36,695 square feet is vacant and available for lease or purchase. The building features three loading docks, high ceilings ranging from 16 to 19 feet, and is zoned for manufacturing. Its versatile design caters to various needs, including warehouse/storage, cold storage, industrial kitchens, and food processing. The temperature-controlled space is ideal for specific manufacturing or storage requirements. The property sits on approximately 1.07 acres and allows for subdivision to accommodate multiple tenants or a single large user. This established warehouse offers a compelling opportunity for businesses seeking efficient and adaptable industrial space in a prime Framingham location. The property is suitable for a variety of industrial uses.
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
29,028 SF
Lot
1.07 ac (46,479 SF)
Zoning code
M
APN
FRAM M:133 B:35 L:9302 U:000
UPID
US38-0760363
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Ian's Natural Foods Industrial Manufacturer Production Facility
-
Blue Horizon Wild Big Box & Wholesale Store Food Market
-
Elevation Brands Big Box & Wholesale Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.70M
CAP Approach
CAP
$4.75M
Comparable Approach
Comparable
$7.38M
Blend (final)
Blend
$6.10M
Owner & transaction history
190 Fountain LP · 4 yrs held
190 Fountain LP
since 2022
Last sale
$6.6M
7 recorded transactions
Zoning & alternative use
M · Framingham, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$8.4M
+89.1%
Auto repair, garage
$8.2M
+83.4%
Neighborhood: shopping center
$8.0M
+80.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Framingham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Framingham submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$5,635,000
ML approach
$5,700,000
CAP Approach
CAP Return
Estimation
6%
$5,145,000
6.5%
$4,750,000
7%
$4,410,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$4,455,000
Current use
RESTAURANT
$8,425,000
Change: +89% · Conversion: Difficult
AUTO REPAIR, GARAGE
$8,170,000
Change: +83% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$8,045,000
Change: +81% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$6,690,000
Change: +50% · Conversion: Difficult
RETAIL STORES
$6,235,000
Change: +40% · Conversion: Moderate
COMMERCIAL (GENERAL)
$5,015,000
Change: +13% · Conversion: Difficult
WAREHOUSE, STORAGE
$4,220,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$6.10M
Range $5.49M – $6.71M · ±10% · vs last sale $6.58M (Feb 16 2022)
Last sale anchor
$6.58M
Feb 16 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$210 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$154,663
Tax year 2024
Assessed value
$6,086,700
Assessed 2024
Previous assessed
$6,086,700
+0.0% YoY
Effective rate
2.54%
On assessed value
Assessed land
$927,700
Assessed improvement
$5,159,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
For Lease
Year built
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
4
Total area
29,028 SF
Lot
1.07 ac (46,479 SF)
Zoning code
M
APN
FRAM M:133 B:35 L:9302 U:000
UPID
US38-0760363
Jurisdiction
FRAMINGHAM
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
M · Framingham, MA
Zoning M · permitted uses
M · Framingham, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Framingham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$4.5M
RESTAURANT
Est. value
$8.4M
AUTO REPAIR, GARAGE
Est. value
$8.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.7M
RETAIL STORES
Est. value
$6.2M
COMMERCIAL (GENERAL)
Est. value
$5.0M
WAREHOUSE, STORAGE
Est. value
$4.2M
INDUSTRIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
4
Lot
1.07 ac
Current owner
From public records · entity-resolved
190 Fountain LP
Entity
Mailing address
190 FOUNTAIN ST, FRAMINGHAM, MA 01702-6213
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 16, 2022
$6,575,000
190 Fountain LP
Azad Wa 190 LLC
Quit Claim Arm's Length For Ne States
$4,602,500 · Harborone Bank
Jul 19, 2021
—
Azad Wa 190 LLC
Azad Wa LLC
Quit Claim Deed
related
$32,200,000 · Brookline Bank
Jul 19, 2021
$14,025,000
Azad Wa LLC
Sixcap Second 300 LLC
Quit Claim Arm's Length For Ne States
—
Jul 17, 2018
$3,550,000
Sixcap Fountain 190 Ll
Paliba RT
Quit Claim Arm's Length For Ne States
$2,662,500 · Leader Bank NA
Jun 19, 2009
—
Jaggi,sangeeta Tr
—
Deed Of Trust
related
$550,000 · Pennsylvania Dept
Oct 20, 2000
—
Paliba RT
—
Deed Of Trust
related
$200,000 · Flagship Bank & Trust
Jul 29, 1997
—
Paliba RT
—
Deed Of Trust
related
$85,000 · Flagship Bank & Trust
Apr 13, 1995
$409,500
Paliba RT
190 Fountain St RT
Grant Deed
$709,000 · Flagship Bank & Trust
Jan 10, 1992
—
190 Fountain St. RT
—
Deed Of Trust
related
$111,685 · Zwi Kohorn
Dec 31, 1991
—
190 Fountain St. RT
—
Deed Of Trust
related
$637,500 · Framingham Cp Bank
Jul 31, 1989
—
190 Fountain St. RT
—
Deed Of Trust
related
$90,000 · Bankboston Development Co LLC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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