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    550 Worcester Rd Framingham, MA 01702-5305
    Property profile & analytics

    550 Worcester Rd, Framingham, MA 01702-5305

    View on Map
    • Office buildings
    • 14,091 SF
    • 0.71 lot acres
    Off-Market
    Last Sale Mar 23, 2023
    $2,500,000
    Property ID
    US38-0249846
    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.
    Value Estimations
    $2,360,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Cohen Martin DDS / Dental Office
    • Abbey Medical Associates PC / Medical Clinic
    • Dr. Robert Achindiba MD, Abbey Medical Associates, PC / Geriatric Care Provider
    • Corporate Growth Resources / Employment Agency
    • Howard Isabell / Dental Office

    Property Details for 550 Worcester Rd

    Year built
    1983
    Construction
    STEEL FRAME
    Lot size
    0.71 lot acres
    Zone code
    B
    Property type
    Office buildings
    APN
    FRAM M:102 B:83 L:2303 U:000
    APU
    FRAMM102B83L2303U000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 23, 2023 $2,500,000 Hac Real Property LLC Claremont RT Quit Claim Arm's Length For Ne States —
    Mar 30, 2010 $1,912,500 Connolly,christopher F Tr K&n Commercial Re LLC Grant Deed $1.3M · Webster Bank
    Jun 13, 2008 — K&n Commercial Re LLC — Deed Of Trust · related $1.4M · Bank Of Canton
    Jun 16, 2004 $1,800,000 K&n Commercial Rlest LLC Gfrw Dev LLC Grant Deed $1.4M · Compass Bank For Savings
    Mar 24, 2003 — Gfrw Development LLC — Deed Of Trust · related $100k · Abington Savings Bank
    Jan 5, 2001 $1,450,000 Gfrw Dev LLC Alk Icn Grant Deed $1.1M · Abington Savings Bank
    Jan 5, 2001 — Gfrw Dev LLC — Deed Of Trust · related $50k · Abington Savings Bank
    Jul 15, 1998 $1,050,000 Alk INC Kaufman 550 RT Grant Deed $50k · Zenon Grzybowski
    Jul 15, 1998 — Alk INC — Deed Of Trust · related $50k · Zenon Grzybowski
    Jul 1, 1993 $1,050,000 Sidney R Kaufman 550 RT Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,315,000
      ML approach
      $2,315,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,161,000
      Market price range: $1.44M - $2.75M
      AI Estimate
      $1,804,000
      Market price range: $976k - $2.48M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,045,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $3,905,000
      Change: +91% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $3,245,000
      Change: +59% Conversion: Easy
      RETAIL STORES
      $3,025,000
      Change: +48% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $2,435,000
      Change: +19% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $2,165,000
      Change: +6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Framingham
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.4185
    Latitude
    42.2972
    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
    $60,107
    $479,600
    $1,885,900
    $2,365,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,900,000
      28,340 SF

      110 Mt Wayte Ave

      OFFICE BUILDING
      110 Mt Wayte Ave, Framingham, MA 01702-5705
      View Details
    • Value Estimation by Request
      2,160 SF

      776 Waverley St

      OFFICE BUILDING
      776 Waverley St, Framingham, MA 01702-6840
      View Details
    • Value Estimation
      $4,045,000
      67,094 SF

      300 Howard St

      OFFICE BUILDING
      300 Howard St, Framingham, MA 01702-8353
      View Details
    • Value Estimation by Request
      3,625 SF

      39 Howard St

      OFFICE BUILDING
      39 Howard St, Framingham, MA 01702
      View Details
    • Value Estimation by Request
      5,675 SF

      47 Howard St

      OFFICE BUILDING
      47 Howard St, Framingham, MA 01702
      View Details
    • Value Estimation by Request
      3,360 SF

      858 Worcester Rd

      OFFICE BUILDING
      858 Worcester Rd, Framingham, MA 01702-5258
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10,165 SF

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      Two historic properties in downtown Framingham, totaling over 22,000 SF.
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      Pending

      Mixed-Use Building in Downtown Framingham

      Multi-use building with residential and office space in Framingham.
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      Framingham Mixed-Use Investment Opportunity

      Multi-use building with residential and office space in downtown Framingham.
      79-81 Franklin St, Framingham, MA 01702
      View Details
    • Contact for pricing
      1,586 SF

      Two-Family Home, Commuter Friendly Location

      Two-unit property near commuter rail, ideal for various living arrangements.
      92 2Nd St, Framingham, MA 01702
      View Details
    • Contact for pricing

      6 Acres of Land

      6 acres of land available for sale.
      1900R Worcester Rd, Framingham, MA 01702
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,650 SF

      Framingham Office Space Available

      Flexible office suites available in a professionally maintained building.
      1 Clarks Hill Ln, Framingham, MA 01702
      View Details
    • Contact for pricing
      900 SF

      Framingham Office Space For Rent

      Versatile office suite with great frontage and ample parking.
      357-359 Union Ave, Framingham, MA 01702
      View Details
    • Contact for pricing

      Framingham Storefront Office Space

      Storefront office space in downtown Framingham with shared conference room.
      100 Concord St, Framingham, MA 01702
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      3,632 SF

      Move-in Ready Medical Office Suite

      Premier medical office suite adjacent to Metrowest Medical Center.
      61 Lincoln St, Framingham, MA 01702
      View Details
    • Contact for pricing

      Framingham Professional Office Space Available

      Professional office space for lease in a prime Framingham location.
      95 Lincoln St, Framingham, MA 01702
      View Details
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    550 Worcester Rd
    Framingham, MA 01702-5305
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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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