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Property profile & analytics
FOR LEASE
Retail space
470 King St Franklin, MA 02038
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US38-1883580
For Lease
1 / 2
$3,855,000
470 King St, Franklin, MA 02038
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2000
Construction
FRAME
Total area
9,130 SF
Lot
1.53 ac (66,734 SF)
APN
FRAN M:303 L:049
UPID
US38-1883580
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
-
Blue Hills Bank Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.96M
CAP Approach
CAP
$2.39M
Comparable Approach
Comparable
$3.40M
Blend (final)
Blend
$3.86M
Owner & transaction history
King Prop Holdings LLC · 4 yrs held
King Prop Holdings LLC
since 2021
Last sale
$3.7M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.9M
+46.6%
Auto repair, garage
$2.9M
+10.0%
Office building
$2.7M
+0.2%
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 Franklin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Franklin 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
$4,990,000
ML approach
$4,960,000
CAP Approach
CAP Return
Estimation
6%
$2,590,000
6.5%
$2,390,000
7%
$2,220,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,675,000
Current use
RESTAURANT
$3,920,000
Change: +47% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,940,000
Change: +10% · Conversion: Difficult
OFFICE BUILDING
$2,680,000
Change: +0% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,625,000
Change: -2% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,335,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$3.86M
Range $3.47M – $4.24M · ±10% · vs last sale $3.70M (Oct 22 2021)
Last sale anchor
$3.70M
Oct 22 2021
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
$422 / 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
$28,620
Tax year 2024
Assessed value
$2,427,500
Assessed 2024
Previous assessed
$2,427,500
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$576,900
Assessed improvement
$1,850,600
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
2000
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
5
Bathrooms
8
Total area
9,130 SF
Lot
1.53 ac (66,734 SF)
APN
FRAN M:303 L:049
UPID
US38-1883580
Jurisdiction
FRANKLIN
Metro division
BOSTON-QUINCY, MA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.7M
RESTAURANT
Est. value
$3.9M
AUTO REPAIR, GARAGE
Est. value
$2.9M
OFFICE BUILDING
Est. value
$2.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$2.3M
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
2000
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
5
Bathrooms
8
Lot
1.53 ac
Current owner
From public records · entity-resolved
King Prop Holdings LLC
Entity
Mailing address
63 CTR ST, DOVER, MA 02030-2404
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 22, 2021
$3,700,000
King Prop Holdings LLC
Silver Maple T
Quit Claim Arm's Length For Ne States
$2,775,000 · Dedham Institution For Savings
Oct 23, 2006
—
Maple T Silver
—
Deed Of Trust
related
$880,000 · Bristol County Savings Bank
Jun 18, 2002
—
Maple T Silver
—
Deed Of Trust
related
$1,100,000 · Sovereign Bank
Dec 29, 2000
—
Maple T Silver
—
Deed Of Trust
related
$950,000 · Metrowest Bank
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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