Natick Real Estate

Situated just 15 miles west of Boston, Natick boasts a vibrant real estate market that includes prime commercial properties, condos, apartments, single-family homes and more. Whether you're interested in purchasing, renting or investing, do yourself a favor and kick off your search with Boston City Properties' extensive Natick real estate listings. Our database also includes listings for properties throughout the greater Boston area, and we employ a team of talented agents in neighborhoods throughout the city.

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Considered to be one of the fastest-growing areas in the Greater Boston metropolitan area, this town shows tremendous promise for prospective sellers and renters in both the residential and commercial real estate markets. It is only 10 miles from Boston, which means that commuters and residents can reach the city easily via car or by using public transportation, which serves the area in the form of several MBTA commuter rail lines and bus lines. There is growth in both the retail and commercial markets as people are looking to move into towns and communities in the Greater Boston area to be closer to where they work. Businesses are seeing tremendous potential in taking advantage of the high vacancy rates and good rates found in the Boston area for commercial facilities. However, the time is now of businesses and investors, as vacancy rates, particularly along major transportation corridors, are falling, and rental rates are rising. For the first time ever, Class B sales and rentals have outpaced sales and rentals of Class A buildings, which means that incoming tenants are looking to finish spaces to suit their needs, and they are preferring properties with more space and fewer conveniences over ready-made spaces filled with luxury amenities and creature comforts. This is particularly true in industries like warehousing and manufacturing, where such commodities are less important, as those industries do not receive large volumes of clients visiting their sites. The advantage of many Class B buildings, and sometimes Class C buildings as well, is that they are often conveniently close to major highways and travel corridors.

Like many other towns and communities around Boston, this town has a winning combination of being close to Boston and having historical and aesthetic appeal. The town has a well-defined downtown center that is characterized by charming boutique shops, small businesses, and established local companies like banks, law offices, and medical practitioners. This area of the town has traditionally been filled with other commodities, primarily restaurants, coffee shops, bars, and clothing retailers. The town’s center underwent a significant redevelopment in 1990, which made it even more attractive to small businesses and residents. Adding to the town’s appeal is the fact that the downtown center has a number of historical sites and sites of interest, including a large library and a Town Common center that stages a number of town and community events. Just outside of the downtown area are several prominent strip malls and large shopping centers that serve the Boston area. One of the most prominent shopping centers in the town is the Natick Mall, which is one of the most strategic retail hubs in the Greater Boston area. Adding to the mall’s appeal is the fact that it is closed to another busy strip mall called Sherwood Plaza. Both shopping centers are located near a large office complex called the Industrial Park, which brings considerable amounts of daytime traffic to both major shopping centers. Bordering the industrial office complex and the shopping centers are several housing developments and a prominent golf course, both of which bring even more traffic to the shopping centers.

With more and more single-family homes, multi-family homes, apartments, and condos appearing on the market each day, there is no shortage of places to choose from when it comes to living in this town. Price points have historically been relatively high in the residential sector, which is due in part to the convenient access to Boston as well as the town’s steady economy. Although a combination of all housing types can be found on the market, the majority of properties on the market are single-family homes. Homes vary widely in price depending on several factors, including their location and access to transportation, schools, and other amenities, as well as their age. Prices for a three-bedroom single-family home, for instance, can range from anywhere between $580,000 to over $1 million. Prospective homeowners will occasionally find land for sale, which can be used for a single home or turned into a development. Homes and land in a state of foreclosure and pre-foreclosures sometimes come onto the market as well.

An example of a single-family home that fetches a mid-range asking price is a newly renovated historic colonial home on historic Main Street. The home has three bedrooms and two baths. It is located at 14 Greenleaf Rd., and it has a total area of 1,450 SF. The house was constructed in the mid-1950s, and it has had several significant improvements and renovations over time. The asking price for the house is $689,000. Some recent improvements in the house are the addition of custom lighting and upgraded stainless steel appliances to the kitchen. The kitchen, which is bright and open, also has granite countertops and a quaint breakfast bar. The living room has also been recently remodeled, and it features a designer fireplace that is encased with marble accents. The existing floors in the house have been replaced with shiny hardwood floors. The master bedroom in the house has an ensuite bathroom that has a glass shower and marble tile flooring. Outside, the house has a patio that can be accessed through a sliding glass door, and there is an in-ground pool in the yard. An enviable feature of this home is that it is located within walking distance to the MBTA commuter rail. It is also close to recreational areas like the Cole Center, which has athletic fields and a track that can be used for walking and running.

Homes in this town range in size, and there are some large homes available for purchasing as well. An example of a large modern home is a four-bedroom home with five bathrooms located at 25 Indian Rock Rd. This home was constructed in 1996, and it is located on a quiet cul-de-sac road. The house covers a total area of 4,319 SF. It is accented with intricate architectural details inside and out, and the front yard is characterized by careful landscaping complete with a walkway, shrubs, and flowers. The home is near the Nonesuch Pond, which is a scenic popular recreational area. The house is considered to be a commuter’s dream, as it is located within a short distance of public transportation, and it is easy to reach the city of Boston via car from the house. Inside, the home is equipped with modern features like a Jacuzzi in the master bathroom and large modern showers. The house features an open floorplan with a spacious kitchen that is filled with top appliances and spacious cabinets. A large living room with a fireplace is located on the first floor, and sliding glass doors lead from the living room to an outside deck, which makes it a prime spot for entertaining in warm weather. A full and finished basement offers additional storage and living space. The house comes with an oversized garage and a private driveway with plenty of room for off-road parking. Another benefit of the house is that it is located close to downtown attractions such as restaurants, boutique shops, and major transportation routes with quick access to Boston and the Boston Logan International Airport.

Like the residential sector, the commercial sector in this town is red hot, and it is proving to be a prime opportunity for both investors and businesses. There are many types of space available, ranging from small shops and office buildings to large industrial and commercial buildings located farther away from the town center. In the Boston area, offices and commercial space have been in particularly high demand in the past several years. There is little new construction in the area, and instead buildings are being repurposed and renovated to meet the unique needs of incoming tenants. There are many opportunities on the market for customers to acquire spaces suited for specific needs, such as medical, dental, and banking, as well as more generalized spaces that are ready for a custom finish. A growing trend is for businesses to co-own space or co-lease space with other businesses, and even to convert a property into a mixed-use space like business and residential. This is evidenced by the fact that in the last part of 2017, flexible use dwellings accounted for about 21 percent of the commercial market in the Boston area, which is the second highest behind manufacturing, which accounted for about 43 percent of the market. In Boston, there was about 70,192,000 SF of supply space available for all commercial enterprises. That total broke down into about 6,191,000 SF of direct space for use and 1,182,000 SF of space suitable for subleasing. The vacancy rates across all commercial sectors in the last quarter of 2017 was 10.5 percent, and they are expected to continue to fall more and more as businesses look to move into the area. In 2017, there was a total absorption volume of 698,497 in Boston.

As with other parts of the country, there are certain trends in business type and volume in and around Boston. Historically, the city’s economy has been driven by the pharmaceutical, life science, education, medical, and banking sectors. These core businesses continue to be a main staple of the city’s economy. They are being joined, however, by technology and software companies in increasingly large numbers. This trend is expected to increase as incoming distribution and ecommerce companies are finding many well-priced and well-sited buildings that are ideal for their shipping and manufacturing needs. They are filling a void that other businesses are scrambling to do in the Boston area, which is meet a continuingly increasing need of delivering high volumes of products to consumers at rapid rates, and even doing so around the clock. These types of companies are finding the most potential in Class B buildings, which are located along some of the region’s busiest transportation corridors. Rental rates are rising in commercial sectors, ranging from retail to industrial, and they are expected to increase even more in 2018 and in the coming years as the Greater Boston area becomes an increasingly attractive place to conduct business. The commercial market is comprised mostly of owner-user arrangements, but there are a number of third-party schemes, such as investment deals, that are appearing on the commercial market as well. The combination of these factors, combined with easy access to Boston’s educated workforce, is allowing for more growth in the technology and ecommerce companies in the Greater Boston area than in many other parts of the country. In the office and corporate sectors, there was less demand for sublease space in 2017 than in years past. Many office spaces are continuing to be occupied by labs, which are continuing to attract educated professionals in the life sciences sectors. Vacancy rates are falling across Class A, Class B, and Class C office spaces. Demand continues to be highest for Class B and build-to-suit facilities that give incoming businesses the opportunity to finish spaces to meet their unique needs. Tenants looking for all types of spaces are taking their time searching, as they are aware that there are still a number of vacancies available, which means that they can be relatively selection in looking for the perfect combination of amenities, access to a talented local workforce and transportation.

Prospective tenants and owners will find quite a bit of variety when looking for retail space. Retail space ranges in price depending on a number of factors, including proximity to the downtown center, public transportation, and shopping centers with major anchor clients. The average price point for retail space in this town is about $1.60 per SF each month. However, prices can deviate from that amount, especially for Class A or highly visible buildings that can cost quite a bit more to rent. Those looking to purchase retail space can still find bargains, but it is also not uncommon to see a retail building selling for $3 million and more. In the current market, there is a combination of straight retail and mixed-use or flexible use buildings offered for sale and lease.

An example of a general retail space available for lease is a first-floor unit in a prominent and picturesque building on Washington St. The space is listed as a general retail space, and it is available for a price of $2.08 per SF monthly. The space covers a total area of 0.07 acres. The building in which the space is located covers a total area of 6,076 SF. The building’s highly visible and pedestrian-friendly location make it suitable for a number of uses. Clothing stores, restaurants, medical providers, and other professionals may find good opportunity to set up shop in this space. Another coveted feature of the building is that is has a private parking lot located in back, which is a luxury commodity in and around Boston as parking is becoming harder to come by. The building is located near the MBTA commuter rail, which adds to its appeal, and it is close to several municipalities. While the building is used primarily as a retail and small business facility, there is also potential for converting some space, particularly on the higher floors, for residential use.

An example of a retail building listed for sale is a large general retail building on W. Central St. The building, which is categorized as a Class B structure, covers a total area of 20,900 SF. It is sited on a lot size of 1.19 acres. The building is offered for a sale price of $3.5 million. It is noted for its prominent location on one of the town’s busiest roads, and it is also close to several other major thoroughfares. The building is a two-story unit that has its own private parking lot with plenty of parking spaces. The brick building was constructed in 1990 and it is a combined retail and professional plaza. The building is divided into an east and a west side, with the western side being a more warehouse-friendly place complete with three loading docks. The building comes with a bonus space, currently used as a garage, that offers an additional 1,680 SF. This versatile space can be used for storage or converted into an area for business use.

Office space is also available for sale and rent. Prices for office space average about $1.00 per SF a month. However, they can be higher or lower depending on factors including the age, condition, and location of the building. As with retail buildings, office spaces come in Class A, Class B, and Class C categories, with Class A buildings offering the most in terms of creature comforts and amenities. An example of a Class B office space on the market is a multi-floor building at 691 Worcester St. There are two spaces open in this building, and they offer prospective tenants a total area of anywhere between 0.04 and 0.08 acres. This means that tenants will also have room for growth and expansion in the next few years if they choose. The building covers a total area of 3,500 SF. It is designated as a commercial building that is housed in a historic Victorian home. The building was once used as a residence, but it was converted into commercial use. One of the most attractive features of this office space is the fact that it is located close to Route 9 and several other busy roadways. The building was constructed in 1890, and it may necessitate renovations and repairs. The first two floors of the building have been used for retail purposes in the past, but they can easily be converted into office space for small companies. The sizeable basement offers plenty of storage space, and there is a top-floor attic that also gives occupants more room for storage. The building is considered to be an especially viable option for a restaurant, a salon, or an art gallery given its picturesque façade and its easily accessible location.

Another major component of the commercial market is the industrial and warehousing sector. Fortunately, there are still a number of both types of buildings available for sale and rent, even though vacancy rates in the Boston area continue to fall rapidly. In the industrial sector, an example of a building that one might find to purchase is a large 37,934 SF warehouse situated on Worcester St. The building is listed as a prime opportunity for a warehouse company, but it can also be adapted for flexible use. It has about 4,400 SF of space that is ideal for using as offices. The building is situated on a scenic 1.33 acre lot, and is it offered for a price of $4.85 million. The building was constructed in 1960, and it is equipped with basic functional and safety amenities like lighting and off-street parking. A highly desirable location is perhaps the greatest asset of this building. It is located near an area called the Golden Triangle, which has historically been one of the busiest commercial and retail centers in the area. It was the site of the first open air mall east of the Mississippi, which was called Shoppers World. The Golden Triangle remains one of the largest and most heavily trafficked retail centers in region, and it is home to two of the largest strip malls in the Northeast. The Golden Triangle area covers a total distance of about three square miles. Worcester Rd., which is where the building is sited, gets quite a bit of car traffic, with estimates indicating that it is traveled by over 500,000 cars each day. The building is located just one mile from the Mass Pike, and it is within a 30-minute drive to the Boston Logan International Airport, which makes it a prime center for businesses who need to ship their products throughout the region and to more distant locations.

Along with manufacturing and industrial uses, some buildings are considered suitable for flexible use. Flexible use buildings are becoming more and more popular, as they give companies the opportunity to house all of their operations, such as finance, corporate functions, and manufacturing, under one roof. An example of this type of building is a flexible-use facility located on Tech Circle. This building has a space of 0.20 acres available for use. The site is offered for a price of about $1.17 per SF each month. The building in which the space sits is a single-story building that covers an area of 8,640 SF. It contains a mixture of open office space and another 6,300 SF of space that can be used for research, development, and production. The building is outfitted with several notable amenities and conveniences, including bright energy efficient lights and central air conditioning. The building also has 24-hour access and it is connected to the town’s sewer lines and water. The facility was constructed in the mid-1960s, and it needs little in the way of major improvements and renovations. The site is located at the end of a closed road, and the building sits on a picturesque green lot. Proximity to the busy I-90 corridor is a main selling point of the site.

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