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

    305 Union St, Unit E300 Franklin, MA 02038

    • Industrial properties
    • 5.37 lot acres
    For Lease
    View listing
    $8 SF/Yr
    Last Sale
    Sep 20, 2024
    $1,500,000
    Value Estimations
    $1,500,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0502846
    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

    • Franklin Mill Store / Quilt Shop / Fabric Store
    • CBS Bar & Restaurant Equipment / Restaurant Supply Store
    • New England Gold Wrestling / Wrestling School
    • Mayflower Textiles Co Inc / Textiles
    • Tri County Full Gospel Fellowship / Association / Organization

    Property Details for 305 Union St

    Lot size
    5.37 lot acres
    Property type
    Industrial properties
    APN
    FRAN M:287 L:074
    APU
    FRANM287L074

    Description

    This exceptional 93,729 square foot multi-tenant property, situated on 5.369 acres, presents a unique opportunity for businesses seeking flexible office and warehouse space. Built in 1900 and boasting three stories, this building offers a blend of historical charm and modern functionality. The property features five available spaces ranging from 260 to 18,750 square feet, catering to a variety of business needs and sizes. The building is equipped with robust 3-phase 480v power, ensuring sufficient capacity for industrial operations. Conveniently located just outside downtown Franklin, this property benefits from immediate access to Route 140, placing it within approximately 1.5 miles of exits 16 and 17 on Route 495, providing easy access to major transportation arteries. Its proximity to Dean College and the Franklin town center train station further enhances its appeal, offering employees convenient commuting options. The property is serviced by town sewer, water, and gas lines, providing reliable utilities. This versatile property is ideal for businesses requiring a combination of office and warehouse space in a strategic location with excellent infrastructure and accessibility. The available spaces offer a range of sizes, allowing for customization to meet specific business requirements. This is a rare opportunity to secure a well-located, functional, and historically significant property in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Norfolk
    State
    Massachusetts
    Longitude
    -71.4062
    Latitude
    42.0779
    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
    $36,260
    $1,257,800
    $1,817,700
    $3,075,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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    • Value Estimation by Request
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    • Value Estimation
      $875,000
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      109 Constitution Blvd

      INDUSTRIAL (GENERAL) • 39.40 Acres
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    • Value Estimation by Request
      1,500 SF

      837 Uppr Un St, Unit 8

      CONDOMINIUMS (INDUSTRIAL) • 1,500 SF
      837 Uppr Un St, Franklin, MA 02038-5003
      View Details
    • Value Estimation
      $3,485,000
      18,438 SF

      25 Frg Pkwy

      INDUSTRIAL (GENERAL) • 18,438 SF
      25 Frg Pkwy, Franklin, MA 02038-3135
      View Details
    • Value Estimation
      $280,000
      1,500 SF

      837 Uppr Un St, Unit 12

      CONDOMINIUMS (INDUSTRIAL) • 1,500 SF
      837 Uppr Un St, Franklin, MA 02038-5003
      View Details

    Similar Nearby for Sale

    • $1,800,000
      0.84 Acres

      326 Union St, Franklin, MA 02038

      Commercial real estate • 0.84 Acres
      326 Union St, Franklin, MA 02038
      View Details
    • $1,200,000
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      Franklin Office Building Investment Opportunity

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    • $1,150,000

      Franklin Multifamily Investment Opportunity

      Well-maintained 5-unit building in prime Franklin location.
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    • $650,000

      Downtown Franklin Four-Family Investment Opportunity

      Four residential units in downtown Franklin with redevelopment potential.
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    • $599,000

      Well-Maintained Multi-Family Home

      Multi-family home in Franklin, ideal for investors or owner-occupants.
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    Similar Nearby for Lease

    • $11 SF/Yr

      Industrial Space in Franklin, MA

      Industrial property available for lease in Franklin, Massachusetts.
      5 Fisher St, Franklin, MA 02038
      View Details
    • Contact for pricing
      2,500 SF

      Franklin Warehouse: 2,500 SF

      Prime Franklin warehouse, ideal for various uses.
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      View Details
    • $10 SF/Yr

      Franklin Commercial Space For Rent

      Flex space with exposed brick and loading dock.
      5 Fisher St, Franklin, MA 02038
      View Details
    • $10 SF/Yr

      Franklin Warehouse Space For Lease

      73,805 SF warehouse space available in Franklin, MA.
      5 Fisher St, Franklin, MA 02038
      View Details
    • New
      $1,900 /Mo
      1,500 SF

      Industrial Condo For Lease

      1500 SF industrial condo with office and warehouse space.
      837 Upper Union St, Franklin, MA 02038
      View Details
    • $8 SF/Yr
      93,729 SF

      Franklin Industrial Office Complex

      Flex Space: Office & Warehouse Available
      305 Union St, Franklin, MA 02038
      View Details
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    Franklin, MA 02038
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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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