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    Property profile & analytics

    8 Michigan Dr Natick, MA 01760

    • Manufacturing properties
    • 17,184 SF
    • 0.26 lot acres
    OFF-MARKET
    Value Estimations
    $2,750,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1041988
    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

    • Manufacturing properties

    Property Details for 8 Michigan Dr

    Year built
    1950
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.26 lot acres
    Property size
    17,184 SF
    Zone code
    INI
    Property type
    Manufacturing properties
    APN
    NATI M:00000009 P:0000002B
    APU
    NATIM00000009P0000002B

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,045,000
      6.5%
      $2,810,000
      7%
      $2,610,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,554,000
      Market price range: $1.47M - $4.37M
      AI Estimate
      $1,883,000
      Market price range: $416k - $2.39M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $2,640,000
      Current use
      COMMERCIAL (GENERAL)
      $4,440,000
      Change: +68% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $3,960,000
      Change: +50% Conversion: Difficult
      OFFICE BUILDING
      $3,305,000
      Change: +25% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Natick
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.3359
    Latitude
    42.3134
    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
    $31,176
    $627,500
    $1,915,400
    $2,542,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $6,035,000
      44,950 SF

      245 Central St

      MANUFACTURING (LIGHT) • 44,950 SF
      245 Central St, Natick, MA 01760-3774
      View Details
    • Value Estimation
      $875,000
      5,776 SF

      215 Oak St

      MANUFACTURING (LIGHT) • 5,776 SF
      215 Oak St, Natick, MA 01760-1324
      View Details
    • Value Estimation
      $3,130,000
      41,510 SF

      22 Pleasant St

      MANUFACTURING (LIGHT) • 41,510 SF
      22 Pleasant St, Natick, MA 01760-5632
      View Details
    • Value Estimation
      $2,780,000
      19,870 SF

      17 Tech Cir

      MANUFACTURING (LIGHT) • 19,870 SF
      17 Tech Cir, Natick, MA 01760
      View Details
    • Value Estimation
      $4,225,000
      25,300 SF

      3 Huron Dr

      MANUFACTURING (LIGHT) • 25,300 SF
      3 Huron Dr, Natick, MA 01760-1346
      View Details
    • Value Estimation
      $2,070,000
      22,865 SF

      63 Washington Ave

      MANUFACTURING (LIGHT) • 22,865 SF
      63 Washington Ave, Natick, MA 01760
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,676 SF

      Natick Office/Flex Building For Sale

      7,676 SF office/flex building on 1.06 acres in Natick.
      14 Huron Dr, Natick, MA 01760
      View Details
    • $1,470,000
      1,732 SF

      Natick Warehouse with Route 9 Visibility

      1,732 SF building with two drive-in doors and visibility.
      206 Worcester St, Natick, MA 01760
      View Details
    • $3,100,000
      8,607 SF

      Natick Warehouse For Sale

      8,607 square foot warehouse available for purchase in Natick.
      15 Erie Dr, Natick, MA 01760
      View Details
    • Contact for pricing
      7,676 SF

      Natick Life Sciences Flex Building

      7,676 SF Flex Space, Ideal Owner/User
      19 Strathmore Rd, Natick, MA 01760
      View Details
    • Contact for pricing

      Natick Center Redevelopment Opportunity

      Two-family house plus detached commercial/retail building in Natick Center.
      49 Summer St, Natick, MA 01760
      View Details
    • $7,200,000
      3.00 Acres

      South Natick Center Investment Opportunity

      Historic 3-Acre Commercial Property
      21 Eliot St, Natick, MA 01760
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,925 SF

      Natick Flex Space Available

      Flex space for rent, renovated in 2022, walkable to amenities.
      235 W Central St, Natick, MA 01760
      View Details
    • Contact for pricing
      44,950 SF

      Industrial Space Near West Natick

      Industrial/flex space with modern amenities and convenient access to transportation.
      245 W Central St, Natick, MA 01760
      View Details
    • Contact for pricing

      Natick Industrial/Commercial Space For Lease

      1,500 Sq Ft light industrial/commercial space for lease.
      63 Washington Ave, Natick, MA 01760
      View Details
    • Contact for pricing
      23,447 SF

      Natick Industrial Building with Storage

      23,447 SF industrial building with outdoor storage in Natick.
      203 W Central St, Natick, MA 01760
      View Details
    • Contact for pricing
      4,000 SF

      Natick Flex Space Available

      Single-story office/R&D building in Natick Business Park.
      4 Strathmore Rd, Natick, MA 01760
      View Details
    • Contact for pricing
      5,000 SF

      Natick Flex/Industrial Space Available

      5,000 SF flex/industrial space available for rent in Natick.
      790 Worcester St, Natick, MA 01760
      View Details
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    8 Michigan Dr
    Natick, MA 01760
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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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