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Property profile & analytics
FOR LEASE
Investment properties
61 Nicholas Rd 7 Framingham, MA 01701
Individually Owned
3-yr Hold
Property ID
US38-0646723
For Lease
1 / 10
$2,400/Mo
61 Nicholas Rd,Unit 7, Framingham, MA 01701
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1957
Construction
FRAME
Total area
18,774 SF
Lot
0.85 ac (37,070 SF)
Zoning code
B-2
APN
FRAM M:040 B:24 L:3508 U:000
UPID
US38-0646723
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
-
Anthony's Safety Gun Shop
-
Upscale Contracting Construction Company
-
Llo electrician corp Electrical Service General Contractor
-
L.K Tactical & Training Gun Shop
-
Northeast Reiki Center Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.97M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.93M
Blend (final)
Blend
$2.90M
Owner & transaction history
Framingham Nicholas Rd Nt · 3 yrs held
Framingham Nicholas Rd Nt
since 2023
Last sale
$2.8M
4 recorded transactions
Zoning & alternative use
B-2 · Framingham, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$4.3M
+33.3%
Retail stores
$4.0M
+24.2%
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 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
$3,025,000
ML approach
$2,970,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,245,000
Current use
APARTMENT HOUSE (5+ UNITS)
$4,325,000
Change: +33% · Conversion: Moderate
RETAIL STORES
$4,030,000
Change: +24% · Conversion: Easy
OFFICE BUILDING
$2,955,000
Change: -9% · Conversion: Easy
INDUSTRIAL (GENERAL)
$2,880,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$2.90M
Range $2.61M – $3.19M · ±10% · vs last sale $2.80M (May 5 2023)
Last sale anchor
$2.80M
May 5 2023
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
$154 / 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 2016Property tax & assessments
Tax year 2016
Tax billed
$34,037
Tax year 2016
Assessed value
$1,923,300
Assessed 2024
Previous assessed
$1,923,300
+0.0% YoY
Effective rate
1.77%
On assessed value
Assessed land
$336,000
Assessed improvement
$1,587,300
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Lease
Year built
1957
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
10
Bathrooms
6
Total area
18,774 SF
Lot
0.85 ac (37,070 SF)
Zoning code
B-2
APN
FRAM M:040 B:24 L:3508 U:000
UPID
US38-0646723
Jurisdiction
FRAMINGHAM
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
B-2 · Framingham, MA
Zoning B-2 · permitted uses
B-2 · 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.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$3.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.3M
RETAIL STORES
Est. value
$4.0M
OFFICE BUILDING
Est. value
$3.0M
INDUSTRIAL (GENERAL)
Est. value
$2.9M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
OFFICE BUILDING
INDUSTRIAL (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
1957
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
10
Bathrooms
6
Lot
0.85 ac
Current owner
From public records · entity-resolved
Framingham Nicholas Rd Nt
Individual
Mailing address
61 NICHOLAS RD, FRAMINGHAM, MA 01701-3498
Ownership since
2023
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
May 5, 2023
$2,800,000
Framingham Nicholas Rd Nt
61 Nicholas Road LLC
Quit Claim Arm's Length For Ne States
$2,100,000 · 61 Nicholas Road LLC
Sep 26, 2013
—
61 Nicholas Road LLC
—
Deed Of Trust
related
$606,152 · Middlesex Savings Bank
Nov 20, 1998
—
Liberty RT
—
Deed Of Trust
related
$490,000 · Middlesex Savings Bank
Sep 24, 1997
$150,000
Nicholas Rd Rlty 61
Fame LP
Grant Deed
$200,000 · Zwi Kohorn
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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