397 East Central St, Franklin MA 02038

Franklin, MA 02038
$1,550,000
Est. $10,059/month
10,400
Sq Ft
$149
Price/Sq Ft
1.14
Acres
1974
Year Built
240
Days on Market
Closed Listed Sep 10, 2024 • MLS# 73287659 Copied!

About this home

Desirable 10,400 sq ft Office Building located on a flat lot zoned Commercial II available for sale. Approximately 5,000 sq ft per floor. Each floor is metered separately.Town Water, Sewer and natural gas. First floor is vacant. Great space for Accounting Firm, Law Office, Therapist, Financial Planner - Many private offices, kitchen , conference room, Flex spaces (floor plan attached ) The Second floor is currently occupied - lease expires 10/31/2026 (Dental practice) Large level lot with approximately 60 Parking spaces. Great Owner Occupied property or Re Development Opportunities!

Property Overview

Listing Type
Commercial Sale
Year Built
1974
Living Area
10,400 sq ft

Sale Statistics

Sale Overview
Original List Price: $2,350,000
Final Sale Price: $1,550,000
Difference: $800,000 (-34.0%)
Performance Metrics
66.0%
List to Sale Ratio
Sold below asking price
240
Days on Market
Extended listing
Price per Square Foot Analysis
Original $/sq ft: $226
Sale $/sq ft: $149
This property sold for $149 per square foot
Sale Summary

This property sold for 34.0% below the original asking price.

At 240 days on market, this property took longer than average to sell.

Facts & Features

Home Facts

Type Commercial Sale
Year Built 1974
Living Area 10,400 sq ft
Lot Size 1.14 acres

Interior

Heating None
Cooling None
Flooring None
Appliances None
Fireplace None
Basement None
Laundry None
Features None

Exterior

Construction None
Architecture None
Roof Tar/gravel, Rubber, Other
Features None
Pool None
Spa None
Fencing None
Patio/Porch None

Parking

Features None

Utilities

Electric None
Water None
Sewer None
Gas None
Other Public Water, Public Sewer, Natural Gas Available

Financial

Annual Tax $24,254

Interior Features

Flooring:
Appliances:
Interior Features:
Windows:
Basement:
Laundry:
Security:

Construction & Materials

Year Built: 1974
Structure Type:
Exterior Materials:
Roof: Tar/Gravel, Rubber, Other
Foundation:

Heating, Cooling & Utilities

Heating:
Cooling:
Hot Water:
Water Source:
Sewer:
Energy Features:

Exterior & Lot

Exterior Features:
Patio & Porch:
Fencing:
Other Structures:
Lot Features:
Road Frontage: 107.00 ft
Road Surface:

Parking & Garage

Parking Features:

Location

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Neighborhood

397 East Central St, Franklin MA 02038

Franklin, MA 02038

Walkability

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Nearby Schools

School District
Franklin School District local
🎓 Where Graduates Go Class of 2021
84% attend college
79% 4-Year 5% 2-Year 45% Out of State 4% Working
School Safety 2024-25
0.7% Low
0.7% Suspensions 1.7% In-School
4.8% below state avg
E

Elementary Schools

7 schools
Amego School
2.1 mi
Grades PK-12
A
Benjamin Franklin Classical Charter Public School
2.6 mi | #64 of 352 | Score: 54.5
Improved 16 spots from last year
-3.7 below state avg
898 students Diverse
Grades K-08
Franklin Early Childhood Development Center
1.6 mi
142 students Diverse
Diverse Student Body
Grades PK
Lincoln Street K-2 Elementary School
2.1 mi
Grades K-02
Lincoln Street 3-5 Elementary School
2.1 mi
Grades 03-05
Washington Street K-2 Elementary School
2.8 mi
Grades K-02
Washington Street 3-5 Elementary School
2.8 mi
Grades 03-05
M

Middle Schools

1 school
Franklin Middle School
1.6 mi
Grades 06-08
H

High Schools

2 schools
A
Franklin High School
1.8 mi | #57 of 346 | Score: 66.1
Improved 35 spots from last year
+7.9 above state avg
1,453 students Moderate
18 sports • 2,232 athletes
Strong AP Program High Graduation Rate College Ready Curriculum Strong Athletics
Grades 09-12
A-
Tri-County Regional Vocational Technical
2.4 mi | #92 of 346 | Score: 60.8
Improved 46 spots from last year
+2.6 above state avg
1,000 students Moderate
High Graduation Rate Career Tech Programs College Ready Curriculum
Grades 09-12
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Monthly Payment Calculator

Monthly Payment
$0
Principal, interest, taxes & insurance
Loan Amount
$0
After down payment
Total Interest
$0
Over life of loan
Total Cost
$0
Including down payment
%
Down: $0
%

Monthly Payment Breakdown

Principal & Interest $0
Property Tax $2,021
Homeowners Insurance $200
PMI (if <20% down) $0

Loan Summary

Total of 360 payments $0
Total principal paid $0
Total interest paid $0

Rate Impact

-0.5% Rate
$0/mo
Save $0/mo
Current Rate
$0/mo
+0.5% Rate
$0/mo
Cost $0/mo

Payment Over Time

Interest
Principal
Year 1
95% Interest
Year 15
50/50
Year 30
95% Principal
* Estimates only. Actual payments may vary. Consult with a lender for accurate figures.

Property History

Market Insights

100%
Price Range

Property Timeline

Current Active Listing - MLS #73465506
Full transaction history available when tracking began
🏡
Currently Listed
Jan 6, 2026
$19
MLS #73465506 - Active
Sold
Oct 27, 2025
$1,550,000
Property sold
🏠
Listed for Sale
Sep 10, 2024
$1,695,000
Original listing
Agent: Christine Molla Office: Costello Realty

Price & Status History

Date Event Price Change
Jan 9, 2026 Sold $19
Sep 10, 2024 New Listing Added $1,695,000

Market Statistics

Days on Market
240 days
Price per Sq Ft
$149

Tax History

Year Taxes Assessment
2024 $24,254

Financial Details

Annual Property Tax
$24,254
Tax Year 2024

Listing Information

Listing Agent Christine Molla
Listing Office Costello Realty
Agent MLS ID BB981997
Office MLS ID BB1510
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.

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397 East Central St, Franklin MA 02038 - Photo 1 397 East Central St, Franklin MA 02038 - Photo 2 397 East Central St, Franklin MA 02038 - Photo 3 397 East Central St, Franklin MA 02038 - Photo 4 397 East Central St, Franklin MA 02038 - Photo 5 397 East Central St, Franklin MA 02038 - Photo 6 397 East Central St, Franklin MA 02038 - Photo 7 397 East Central St, Franklin MA 02038 - Photo 8 397 East Central St, Franklin MA 02038 - Photo 9 397 East Central St, Franklin MA 02038 - Photo 10
Steven Novak

Steven Novak

BMN Boston Real Estate

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