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    321 Speen St Natick, MA 01760-1506
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    321 Speen St Natick, MA 01760-1506

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    • Super regional malls
    • 215,426 SF
    • 12.99 lot acres
    For Lease
    $38 SF/Yr
    View Listing →
    Retail Space Near Natick Mall For Lease
    $38 SF/Yr
    3,775 SF

    Retail Space Near Natick Mall

    3,775 SF retail space with salon and spa.

    321 Speen St, Natick, MA 1760
    View Listing
    Property ID
    US38-1791832
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Fabric Place Basement / (Bike/Boat/Book/etc) Store
    • Total Wine & More / Specialty Food Shop / Wine and Liquor Store
    • Harbor Freight Tools / Building Supply / Hardware & Home Improvement
    • Guitar Center / (Bike/Boat/Book/etc) Store
    • Bella Sisters Salon & Med Spa / Hair Salon / Nail Salon

    Property Details for 321 Speen St

    Year built
    1978
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    12.99 lot acres
    Property size
    215,426 SF
    Zone code
    CII
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    NATI M:00000017 P:0000004C
    APU
    NATIM00000017P0000004C

    Description

    This exceptional retail opportunity presents 9,000 square feet of vacant space within the Cloverleaf Shops, a single-tenant strip center totaling 180,868 square feet. Located at 321 Speen Street in Natick, Massachusetts (zip code 01760), this property boasts a highly visible street presence in Middlesex County. The existing building offers significant potential for a variety of retail uses, benefiting from its established location and ample space. The property's address is easily accessible and well-suited for attracting a substantial customer base. With 9,000 square feet available for lease, this space provides a significant opportunity for businesses seeking to establish or expand their presence in the thriving Natick market. The property type is retail, specifically a strip center, offering a convenient and attractive retail environment. The property's location in Natick, MA, provides access to a strong local economy and a dense population base. This is a single-tenant space, offering the unique advantage of exclusive occupancy and control. Serious inquiries are encouraged to explore this exceptional retail leasing opportunity. Further details regarding lease terms and conditions are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Natick
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.3794
    Latitude
    42.3036
    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
    $348,682
    $11,740,400
    $16,700,200
    $28,440,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $4,375,000
      27,408 SF

      117 Central St

      REGIONAL SHOPPING CENTER, MALL • 27,408 SF
      117 Central St, Natick, MA 01760-4381
      View Details
    • Value Estimation by Request
      304,444 SF

      330 Speen St

      REGIONAL SHOPPING CENTER, MALL • 304,444 SF
      330 Speen St, Natick, MA 01760
      View Details
    • Value Estimation
      $1,835,000
      12,384 SF

      179 Central St

      REGIONAL SHOPPING CENTER, MALL • 12,384 SF
      179 Central St, Natick, MA 01760-4166
      View Details
    • Value Estimation
      $8,030,000
      59,168 SF

      273 Central St

      REGIONAL SHOPPING CENTER, MALL • 59,168 SF
      273 Central St, Natick, MA 01760
      View Details
    • Value Estimation
      $8,055,000
      52,288 SF

      118 Speen St

      REGIONAL SHOPPING CENTER, MALL • 52,288 SF
      118 Speen St, Natick, MA 01760
      View Details
    • Value Estimation
      $15,295,000
      104,481 SF

      Worcester St

      REGIONAL SHOPPING CENTER, MALL • 104,481 SF
      Worcester St, Natick, MA 01760
      View Details

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      View Details
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    Natick, MA 01760-1506
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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.

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