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665 Cochituate Rd

16,560 SF 100% Leased Office Building Framingham, MA 01701 $4,666,000 ($282/SF) 9% Cap Rate

Investment Highlights

  • Attractive two-story building containing 10,240 SF
  • Temescal Wellness cannabis dispensary has leased 1st floor since 2017
  • Strong demographics; 149,000 residents with AHI of $209,000 within 5 miles
  • Trophy location in close proximity to TJ Maxx corporate office, Natick Mall, Shoppers World, & Massachusetts Turnpike exit 117
  • Hospitality Suites HQ, a joint venture with IWG, to occupy 2nd floor as of 1/1/2025
  • A user-buyer can potentially occupy the second floor

Executive Summary

The KeyPoint Investment Sales team has been exclusively engaged to sell the fee simple interest in 665 Cochitutate Road in Framingham, MA. This attractive two-story, 10,240 SF building enjoys a “trophy” location in close proximity to TJ Maxx Corporate offices, the Natick Mall, Shoppers World, and exit 117 from the Massachusetts Turnpike. The property enjoys strong demographics with 149,000 residents with AHI of $209,000 within 5 miles. Temescal Wellness, a respected cannabis dispensary, has occupied the first floor since 2017. Hospitality Suites HQ, a joint venture which includes IWG, a global leader in the shared office arena, will occupy the second floor as of January 1st. This desirable investment property produces a stable income stream for potential investors. Prior to December 1st, the 2nd floor can be delivered vacant, which presents an opportunity for user-buyers, seeking to occupy the space.

Property Facts

Sale Type
Investment
Property Type
Office
Building Size
16,560 SF
Building Class
C
Year Built
1968
Price
$4,666,000
Price Per SF
$282
Cap Rate
9%
NOI
$419,940
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
5,000 SF
Slab To Slab
12’
Building FAR
0.55
Land Acres
0.69 AC
Zoning
M1, Framingham - Manufacturing

Amenities

  • Property Manager on Site

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
FRAM-000084-000077-002163
Land Assessment
$471,600
Improvements Assessment
$1,364,500
Total Assessment
$1,836,100
  • Listing ID: 32436934

  • Date on Market: 7/12/2024

  • Last Updated:

  • Address: 665 Cochituate Rd, Framingham, MA 01701

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