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Property profile & analytics
OFF-MARKET
Estimated value
$3,880,000
Manufacturing properties
47 Mellen St, Framingham, MA 01702-8588
Individually Owned
30-yr Hold
~
Est. High Equity
Property ID
US38-2427528
Property summary
AI-generated overview
This exceptional 1,750-square-foot flex space, located at 47 Mellen Street in Framingham, Massachusetts, presents a fantastic opportunity for businesses seeking a versatile and well-maintained industrial property. Unit C-2 at the Mellen Business Center is classified as Class C and boasts recent renovations completed in 2022, ensuring modern functionality within a classic setting. The property, built in 1950, offers a blend of workspace and office areas, perfectly suited for a variety of uses. A convenient loading dock is included, enhancing operational efficiency. The space features a dedicated office and restroom facilities. The property is zoned M and situated in Middlesex County, within the Framingham submarket, offering easy access to major transportation routes and amenities. The asking rent is $10 per square foot, plus separately metered utilities. This is a single available unit within a multi-tenant building. Don't miss this chance to secure a well-located and updated industrial space in a thriving Massachusetts market. The property's zip code is 01702.
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1917
Construction
STEEL FRAME
Total area
56,488 SF
Lot
1.34 ac (58,196 SF)
Zoning code
M
APN
FRAM M:134 B:64 L:4384 U:000
UPID
US38-2427528
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
-
Rooter-Man Plumbing Service General Contractor
-
New England GS (Bike/Boat/Book/etc) Store
-
Stone Creations General Contractor
-
1000 Gems Dental Office
-
All Right Mailing And Printing Marketing & Advertising Printing Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.84M
Blend (final)
Blend
$3.88M
Owner & transaction history
Laine RT · 30 yrs held
Laine RT
since 1996
3 recorded transactions
Zoning & alternative use
M · Framingham, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.88M
Range $3.49M – $4.27M · ±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
$69 / 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
$42,968
Tax year 2024
Assessed value
$1,691,000
Assessed 2024
Previous assessed
$1,691,000
+0.0% YoY
Effective rate
2.54%
On assessed value
Assessed land
$305,400
Assessed improvement
$1,385,600
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1917
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
10
Bathrooms
4
Total area
56,488 SF
Lot
1.34 ac (58,196 SF)
Zoning code
M
APN
FRAM M:134 B:64 L:4384 U:000
UPID
US38-2427528
Jurisdiction
FRAMINGHAM
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
M · Framingham, MA
Zoning M · permitted uses
M · 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.
Building & site characteristics
From public records
Year built
1917
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
10
Bathrooms
4
Lot
1.34 ac
Current owner
From public records · entity-resolved
Laine RT
Individual
Mailing address
17 BENNETT RD, WAYLAND, MA 01778-2703
Ownership since
1996
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 17, 1996
$615,000
Laine RT
Value Prop T
Grant Deed
$450,000 · Metrowest Bank
Oct 7, 1988
—
Atkinson St. RT
—
Deed Of Trust
related
$4,452,000 · Zuckerman Family Nomi
Apr 13, 1987
—
Ernest A Marks
—
Deed Of Trust
related
$1,000,000 · Union Warren Svgs Bk
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.
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