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Property profile & analytics
FOR LEASE
Retail space
421 Worcester Rd, Framingham, MA 01701
Individually Owned
Absentee Owner
Free & Clear
Property ID
US38-1067732
For Lease
1 / 2
$1,070,000
421 Worcester Rd, Framingham, MA 01701
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1973
Construction
CONCRETE
Total area
6,192 SF
Lot
0.33 ac (14,549 SF)
Zoning code
B
APN
FRAM M:102 B:93 L:8714 U:000
UPID
US38-1067732
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.37M
Comparable Approach
Comparable
$769k
Blend (final)
Blend
$1.07M
Owner & transaction history
Fitts Commercial RT
Fitts Commercial RT
since 2025
1 recorded transaction
Zoning & alternative use
B · Framingham, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.7M
+31.1%
Neighborhood: shopping center
$1.7M
+29.0%
Apartment house (5+ units)
$1.4M
+7.3%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,485,000
6.5%
$1,370,000
7%
$1,270,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,330,000
Current use
AUTO REPAIR, GARAGE
$1,745,000
Change: +31% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,715,000
Change: +29% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$1,425,000
Change: +7% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,070,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$1.07M
Range $963k – $1.18M · ±10%
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
$173 / 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
$38,229
Tax year 2024
Assessed value
$1,504,500
Assessed 2024
Previous assessed
$1,504,500
+0.0% YoY
Effective rate
2.54%
On assessed value
Assessed land
$348,100
Assessed improvement
$1,156,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Lease
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1973
Construction
CONCRETE
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
7
Bathrooms
7
Total area
6,192 SF
Lot
0.33 ac (14,549 SF)
Zoning code
B
APN
FRAM M:102 B:93 L:8714 U:000
UPID
US38-1067732
Jurisdiction
FRAMINGHAM
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
B · Framingham, MA
Zoning B · permitted uses
B · 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
RETAIL STORES Current
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.1M
RETAIL STORES Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
1973
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
7
Bathrooms
7
Lot
0.33 ac
Current owner
From public records · entity-resolved
Fitts Commercial RT
Individual
Free & Clear · 0 yrs held
Mailing address
2 WILLOW ST STE #102, SOUTHBOROUGH, MA 01745-1020
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 15, 2025
—
Fitts Commercial RT
Arthur M Fitts LP
Quitclaim Deed
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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