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    Property profile & analytics
    OFF-MARKET Estimated value $785,000
    Medical Office Space

    397 Central St, Franklin, MA 02038-1304

    10,400 SF 1.14 ac lot Built 1974
    Entity Owned Absentee Owner ~ Est. High Equity
    Property ID
    US38-0650255
    Property summary
    AI-generated overview

    This exceptional commercial property, located at 397 East Central Street in Franklin, MA, presents a unique investment opportunity. The 10,400 square foot office building sits on a desirable 1.14-acre lot zoned Commercial II, offering significant flexibility for various uses. The building features approximately 5,000 square feet per floor, each independently metered for efficient utility management. Town water, sewer, and natural gas services are readily available. Currently, the first floor is vacant, providing immediate occupancy potential for a wide range of businesses, such as accounting firms, law offices, or medical practices. The floor plan includes numerous private offices, a kitchen, a conference room, and flexible spaces ideal for customization. The second floor is currently leased to a dental practice, with the lease expiring October 31, 2026. The property boasts a substantial 60-space parking lot, ensuring ample convenience for tenants and visitors. This level lot presents excellent opportunities for owner-occupancy or future redevelopment projects, capitalizing on the prime location and substantial square footage. The property's versatility and location make it an attractive investment for both immediate income generation and long-term growth.

    Property profile
    Verified
    Property type Medical Office Space
    Use group MEDICAL BUILDING
    Year built 1974
    Construction STEEL FRAME
    Total area 10,400 SF
    Lot 1.14 ac (49,702 SF)
    APN FRAN M:285 L:005
    UPID US38-0650255
    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
    • Franklin Dental Associates Dental Office
    • Dr. Rudolph J. Shorette, DMD Dental Office
    • Franklin Dental Associates: Commette James DDS Dental Office Physician
    • Maarten Broess, DDS, DMSc, DMD Dental Office
    • Theberge Gregory DDS Dental Office
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $570k
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $1.00M
    Blend (final) Blend
    $785k
    Owner & transaction history
    397 East Central LLC
    397 East Central LLC
    since 2025
    4 recorded transactions
    2025
    $1.6M
    2024
    2003
    1993
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Apartment house (5+ units) $1.3M +8.8%
    Auto repair, garage $1.3M +5.1%
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