Hollis St

Framingham, MA

Commercial, Multifamily

Active

(2) adjacent mixed-use buildings

(31) units

(16) residential units

(4) 1-Bedroom/1-Bathroom units

(12) 2-Bedroom/1-Bathroom units

(15) commercial units

Situated on 0.68-acres of land

Property Highlights

Acquired 40-76 Hollis Street, a well-located property in downtown Framingham with excellent access to local amenities and transportation.
Implementing proactive stabilization to bolster the rent roll and reduce expenses, taking advantage of expiring commercial leases and below-market residential rents.
Property’s downtown CB zoning allows for six-story development, and its location is in an opportunity zone.

Overview

Our team acquired 40-76 Hollis Street in Framingham, Massachusetts, a property with excellent access to local amenities and situated in downtown Framingham. The property is within walking distance of several area schools and a short drive from the area’s commercial center. It benefits from proximity to the MBTA Commuter Rail, MetroWest Medical Center, and Framingham State University’s main campus. The surrounding area features a mix of national retailers, local shops, and restaurants, as well as new high-end developments.

With many commercial leases up for negotiation and several residential rents below market value, our team will be focusing on proactive stabilization to bolster the rent roll and reduce expenses. Given the downtown CB zoning allowing for six stories and the property’s location in an opportunity zone, the site offers potential for future master redevelopment.