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    Property profile & analytics

    55 Central St Franklin, MA 02038

    • Office buildings
    • 5,920 SF
    • 0.45 lot acres
    For Sale
    View listing
    $1,450,000
    Last Sale
    Jun 17, 2021
    $1,380,000
    Value Estimations
    Cap Rate Potential
    7.4%
    Office buildings
    Location Intelligence
    Property ID
    US38-0459953
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Dora Brett, Realtor / Real Estate Consultant / Real Estate Agency
    • Dawn Oliveira / Real Estate Agency
    • Michael Colombo - Real Living Realty Group / Real Estate Agent
    • Matt Kelly Homes / Real Estate Agency / Real Estate Agent
    • Matt Kelly Realtors / Real Estate Agent

    Property Details for 55 Central St

    Year built
    1970
    Construction
    FRAME
    Lot size
    0.45 lot acres
    Property size
    5,920 SF
    Property type
    Office buildings
    APN
    FRAN M:279 L:018
    APU
    FRANM279L018

    Description

    This exceptional 6,900 square foot executive office building presents a compelling owner-user or investment opportunity. Located at 55 West Central Street in Franklin, Massachusetts, this Class B property offers a versatile space ideally suited for a variety of businesses. Constructed in 1970, the two-story building sits on a 0.45-acre lot and provides ample parking with 25 spaces. The property is zoned for commercial use and enjoys a highly desirable downtown Franklin location, adjacent to Dean College and just 1.7 miles from Interstate 495, providing easy access to major transportation routes. The convenient location offers proximity to a wealth of amenities, including restaurants and shopping within Franklin, as well as additional options in nearby Wrentham and Foxborough. This property represents a rare chance to acquire a well-situated office building in a thriving Massachusetts community. The building's size and parking make it suitable for a range of business needs. The commercial zoning allows for flexibility in future uses. This is an excellent opportunity for businesses seeking a prominent location with convenient access to major roadways and a variety of supporting services. The ample parking ensures convenient access for employees and clients. The property's location in downtown Franklin provides high visibility and easy access to local amenities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,860,000
      ML approach
      $1,795,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,310,000
      6.5%
      $2,130,000
      7%
      $1,980,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,783,000
      Market price range: $947k - $2.68M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,735,000
      Current use
      RESTAURANT
      $2,540,000
      Change: +46% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,905,000
      Change: +10% Conversion: Difficult
      RETAIL STORES
      $1,735,000
      Change: -0% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $1,700,000
      Change: -2% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,515,000
      Change: -13% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Norfolk
    State
    Massachusetts
    Longitude
    -71.3997
    Latitude
    42.0833
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $16,531
    $327,000
    $1,075,100
    $1,402,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $355,000
      1,909 SF

      111 Central St

      OFFICE BUILDING • 1,909 SF
      111 Central St, Franklin, MA 02038-1437
      View Details
    • Value Estimation
      $460,000
      8,316 SF

      333 Central St

      OFFICE BUILDING • 8,316 SF
      333 Central St, Franklin, MA 02038-1300
      View Details
    • Value Estimation
      $555,000
      7,415 SF

      693 Central St

      OFFICE BUILDING • 7,415 SF
      693 Central St, Franklin, MA 02038-5500
      View Details
    • Value Estimation
      $420,000
      3,863 SF

      443 Central St

      OFFICE BUILDING • 3,863 SF
      443 Central St, Franklin, MA 02038-1304
      View Details
    • Value Estimation
      $340,000
      1,897 SF

      184 Central St

      OFFICE BUILDING • 1,897 SF
      184 Central St, Franklin, MA 02038-2137
      View Details
    • Value Estimation
      $425,000
      1,133 SF

      535 Central St

      OFFICE BUILDING • 1,133 SF
      535 Central St, Franklin, MA 02038-1360
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Commercial real estate • 0.84 Acres
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      View Details
    • $1,200,000
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      Franklin Mixed-Use Investment

      Five-unit building, prime Franklin location.
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    • $1,150,000

      Franklin Multifamily Investment Opportunity

      Well-maintained 5-unit building in prime Franklin location.
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    Similar Nearby for Lease

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    • $25 SF/Yr

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      Professional Office Space Available

      Professional office space for small businesses. Available immediately.
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    • $19 SF/Yr
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    55 Central St
    Franklin, MA 02038
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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