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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    9 Summer St, Unit 1 Franklin, MA 02038-1491

    • Commercial real estate
    • 5,616 SF
    OFF-MARKET
    Value Estimations
    $835,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1731268
    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

    • Salon Elan / Hair Removal Service / Beauty Salon
    • Coastal Glow Skin Clinic / Medical Spa
    • Speech Therapy Services of Franklin, LLC / Speech Pathologist
    • Franklin Foot Care: Stenehjem Shane D DPM / Podiatrist
    • Franklin Foot Care: Hicks Sherry L DPM / Podiatrist

    Property Details for 9 Summer St

    Year built
    2006
    Construction
    STEEL FRAME
    Property size
    5,616 SF
    Property type
    Commercial real estate
    APN
    FRAN M:286 L:089-063
    APU
    FRANM286L089063

    Description

    This exceptional 5,114 square foot medical office building, constructed in 2006, offers multiple suites for lease in the vibrant downtown Franklin, MA area. Located at 9 Summer St, with high visibility from E Central St and Route 140, this property boasts a prime location within the central business district. Two spaces are currently available, ranging from 500 to 1,440 contiguous square feet, ideal for a variety of medical or professional office uses. Each space features a desirable open floor plan, complemented by a smaller conference room. The second-floor location provides convenient elevator access. Ample parking is ensured with 69 spaces available. The building is zoned Comm-1 and benefits from prominent signage opportunities, including a large corner billboard. The Net, Net, Net (NNN) lease includes heat, hot water, building insurance, landscaping, snow removal, systems services, and taxes, along with one parking garage space per suite. Tenants are responsible for electricity and internet. The property is ready for immediate occupancy. Appointments are required for showings.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $905,000
      6.5%
      $835,000
      7%
      $775,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $724,000
      Market price range: $462k - $1.11M

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

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Norfolk
    State
    Massachusetts
    Longitude
    -71.3963
    Latitude
    42.0816
    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
    $13,630
    $0.00
    $1,156,100
    $1,156,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $520,000
      4.73 Acres

      511 Central St

      COMMERCIAL (GENERAL) • 4.73 Acres
      511 Central St, Franklin, MA 02038-1306
      View Details
    • Value Estimation by Request
      41.86 Acres

      17 Spg St

      COMMERCIAL (GENERAL) • 41.86 Acres
      17 Spg St, Franklin, MA 02038-3403
      View Details
    • Value Estimation
      $1,210,000
      6,997 SF

      837 Central St

      COMMERCIAL CONDOMINUIM • 6,997 SF
      837 Central St, Franklin, MA 02038-3185
      View Details
    • Value Estimation
      $505,000
      4,260 SF

      517 Lincoln St

      SHOW ROOM, WAREHOUSE • 4,260 SF
      517 Lincoln St, Franklin, MA 02038
      View Details
    • Value Estimation by Request
      244,940 SF

      250 Franklin Village Dr

      Retail properties • 244,940 SF
      250 Franklin Village Dr, Franklin, MA 02038
      View Details
    • Value Estimation by Request
      1.35 Acres

      452 Central St

      COMMERCIAL (GENERAL) • 1.35 Acres
      452 Central St, Franklin, MA 02038
      View Details

    Similar Nearby for Sale

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    • Contact for pricing
      6,900 SF

      Franklin Office Building Investment Opportunity

      Fully leased office building near I-495 and Dean College.
      55 W Central St, Franklin, MA 02038
      View Details
    • $1,150,000

      Franklin Multifamily Investment Opportunity

      Well-maintained 5-unit building in prime Franklin location.
      159 E Central St, Franklin, MA 02038
      View Details
    • $599,000

      Well-Maintained Multi-Family Home

      Multi-family home in Franklin, ideal for investors or owner-occupants.
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    Similar Nearby for Lease

    • Contact for pricing
      2,500 SF

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      Prime Franklin warehouse, ideal for various uses.
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      Franklin Commercial Space For Rent

      Flex space with exposed brick and loading dock.
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    • $19 SF/Yr
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      First Class Office Space

      Office space for lease in busy shopping center.
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      View Details
    • $18 SF/Yr
      3,500 SF

      Retail Space in Franklin, MA

      Retail space available for lease in Franklin, Massachusetts.
      13 Main St, Franklin, MA 02038
      View Details
    • $500 /Mo
      315 SF

      Professional Office Space Available

      Professional office space for small businesses. Available immediately.
      36 E Central St, Franklin, MA 02038
      View Details
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    9 Summer St, Unit 1
    Franklin, MA 02038-1491
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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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