518 Pleasant St Framingham, MA 01701-2841
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The Branches of Framingham Nursing Home Retirement Community
Located in a R-3 or R-4 Single-Family Residential Zoning District; (b) Consistent with the definition of an active farm; and (c) Not have been subdivided into smaller parcels, including approval not required (ANR), within a five-year period prior to submission of an application for § 435-40 herein. (2) Development requirements. The development of the active…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
R-3 · Framingham, MALocated in a R-3 or R-4 Single-Family Residential Zoning District; (b) Consistent with the definition of an active farm; and (c) Not have been subdivided into smaller parcels, including approval not required (ANR), within a five-year period prior to submission of an application for § 435-40 herein. (2) Development requirements. The development of the active farm parcel shall require the following conditions: (a) The applicant shall file with the Planning Board a preliminary plan conforming to the requirements of Articles V and VI of Chapter 530 , Subdivision of Land, the Massachusetts Wetlands Protection Act (MGL c. 131, § 40 ) and Chapter 427 , Wetlands Protection. A professional land surveyor or engineer registered in the Commonwealth of Massachusetts shall prepare the preliminary plan to determine the number of buildable lots that would be created under conventional zoning. The preliminary plan shall identify the quality of the land by identifying all wetlands, other resource areas and slopes over 15%. The number of lots shall also be consistent with § 435-33 , Land disturbance and stormwater management, and shall be reviewed for accuracy and approved by the City Engineer. A copy of the preliminary plan and all related documents shall be filed with the Conservation Commission for review. The Conservation Commission shall review the delineated wetlands, resource areas and buffer zones and make a recommendation to the Planning Board. [Amended 4-30-2024 by Ord. No. 2024-025-001 ] (b) A minimum of 70% of the active farm shall be known as the "preserved area" and shall be preserved under an agriculture preservation restriction (APR) in accordance with § 435-40D and shall remain in private ownership of the active farmer. (c) A maximum of 30% of the active farm shall be known as the "buildable parcel" and may be utilized for residential development. (d) The applicant shall submit a proposed site plan that may request a unit density bonus of up to 20% of the number of buildable lots determined under the preliminary plan. During a preapplication meeting, the Planning Board shall determine if the proposed density bonus is acceptable based on the quality of the open space preserved land. Factors that the Planning Board shall consider to determine the density bonus include the quality of the land preserved and locations of wetlands, vernal pools, and all other resources and buffer zones as reviewed by the Conservation Commission and slopes over 15% and any possible need for septic systems and wells. C. Agriculture preservation development requirements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.