Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    221 Worcester Rd Framingham, MA 01701
    Property profile & analytics

    221 Worcester Rd, Framingham, MA 01701

    View on Map
    • Retail space
    • 6,280 SF
    • 0.21 lot acres
    For Lease
    $25 SF/Yr
    View Listing →
    Framingham Flex/Retail Building For Rent For Lease
    $25 SF/Yr
    6,280 SF

    Framingham Flex/Retail Building For Rent

    6,280 SF flex/retail building with high visibility and ample parking.

    221 Worcester Rd, Framingham, MA
    View Listing
    Property ID
    US38-0895041
    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
    $1,500,000
    Cap Rate Potential
    6%
    Retail space
    Location Intelligence

    Current Use by Public Records

    • Kitchens Etc / Hardware & Home Improvement / Kitchen & Bath Showroom
    • Stoneworks Inc / Building Supply / Hardware & Home Improvement

    Property Details for 221 Worcester Rd

    Year built
    1982
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.21 lot acres
    Zone code
    B
    Property type
    Retail space
    APN
    FRAM M:103 B:23 L:3965 U:000
    APU
    FRAMM103B23L3965U000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 8, 2024 $1,500,000 Abaae Rt9 LLC Lea RT Quit Claim Arm's Length For Ne States $1.5M · Marcello M Mallegni
    Jun 27, 2023 — Marcello Mallegni Framingham City Of Redemption Deed · related —
    Jan 10, 2003 — Lea RT — Deed Of Trust · related $2M · Framingham Cp Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,500,000
      ML approach
      $1,500,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,505,000
      6.5%
      $1,390,000
      7%
      $1,290,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $933,000
      Market price range: $790k - $1.86M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,350,000
      Current use
      RESTAURANT
      $1,825,000
      Change: +35% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,770,000
      Change: +31% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,740,000
      Change: +29% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $1,445,000
      Change: +7% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,085,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Framingham
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.4032
    Latitude
    42.2989
    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
    $21,728
    $277,200
    $577,900
    $855,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,360,000
      8,438 SF

      497 Worcester Rd

      RETAIL STORES (PERSONAL SERVICES)
      497 Worcester Rd, Framingham, MA 01701-5302
      View Details
    • Value Estimation
      $1,735,000
      15,600 SF

      847 Edgell Rd

      RETAIL STORES (PERSONAL SERVICES)
      847 Edgell Rd, Framingham, MA 01701-3976
      View Details
    • Value Estimation
      $525,000
      3,600 SF

      1645 Concord St

      RETAIL STORES (PERSONAL SERVICES)
      1645 Concord St, Framingham, MA 01701-3593
      View Details
    • Value Estimation
      $5,250,000
      40,293 SF

      375 Cochituate Rd

      RETAIL STORES (PERSONAL SERVICES)
      375 Cochituate Rd, Framingham, MA 01701-4653
      View Details
    • Value Estimation
      $820,000
      3,000 SF

      908 Edgell Rd

      RETAIL STORES (PERSONAL SERVICES)
      908 Edgell Rd, Framingham, MA 01701-3101
      View Details
    • Value Estimation by Request
      1,516 SF

      1310 Old Worcester Rd

      RETAIL STORES (PERSONAL SERVICES)
      1310 Old Worcester Rd, Framingham, MA 01701-8909
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Turn-Key Retail Space on Golden Mile

      Fully renovated retail space in Framingham's thriving commercial corridor.
      419 Worcester Rd, Framingham, MA 01701
      View Details
    • Contact for pricing
      16,535 SF

      Framingham Mixed-Use Commercial Building

      16,535 SF mixed-use building in thriving MetroWest location.
      861 Edgell Rd, Framingham, MA 01701
      View Details
    • Contact for pricing
      16,535 SF

      Framingham Mixed-Use Commercial Building

      16,535 SF mixed-use building in thriving MetroWest location.
      861 Edgell Rd, Framingham, MA 01701
      View Details
    • Contact for pricing

      Framingham Commercial Building For Sale

      16,535 SF mixed-use building on 1.04 acres.
      861 Edgell Rd, Framingham, MA 01701
      View Details
    • Contact for pricing
      10,240 SF

      Two-Story Commercial Building For Sale

      10,240 SF building near I-90 and major retail.
      665 Cochituate Rd, Framingham, MA 01701
      View Details
    • Contact for pricing

      Commercial Property with Condo Conversion Potential

      Commercial property suitable for business or conversion to condominiums.
      429 Worcester Rd, Framingham, MA 01701
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,750 SF

      Turn-Key Salon Space Available

      Fully renovated salon space with prime signage opportunities on Worcester Road.
      421 Worcester Rd, Framingham, MA 01701
      View Details
    • Contact for pricing
      6,280 SF

      Framingham Flex/Retail Building For Rent

      6,280 SF flex/retail building with high visibility and ample parking.
      221 Worcester Rd, Framingham, MA 01701
      View Details
    • Contact for pricing
      1,082 SF

      Retail Space on Route 9

      Retail spaces available for lease on signalized Route 9.
      1255-1257 Worcester Rd, Framingham, MA 01701
      View Details
    • Contact for pricing
      2,800 SF

      Framingham Retail and Office Spaces

      Retail and office spaces for lease in multi-use building.
      61 Nicholas Rd, Framingham, MA 01701
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space in Framingham Center

      Retail spaces available in established Framingham shopping center.
      1-61 Nicholas Rd, Framingham, MA 01701
      View Details
    View Listing
    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.
    221 Worcester Rd
    Framingham, MA 01701
    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
    221 Worcester Rd, Framingham, MA, 01701
    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!