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To alleviate the backhaul congestion in future hybrid heterogenous networks, this paper investigates the potential benefits of implementing storages in small base stations (SBSs) operating at frequency range 2 (FR2) bands that co-exist with a tier of massive multiple input multiple output (MIMO) macro BSs (MBSs) operating at frequency range 1 (FR1) bands. We develop a unified analytical framework and derive theoretical bounds for such a cache-enabled FR1–FR2 hybrid network under limited backhaul scenario to analyze the exact and approximate latency, average success probability of file delivery, and average data rate considering two open-access user association policies: i) location-based and ii) content-based association. Numerical results demonstrate that wireless edge caching (WEC) can improve the performance of hybrid wireless networks, albeit certain trade-offs, e.g., increasing cache-enabled SBSs cannot always improve the network performance and there exists an optimal SBS density that provides the best latency and throughput performance. Furthermore, we compare the performance of the network with respect to other key network design parameters such as cache size, content popularity, backhaul capacity, and blockages for both the user associations. Our results show that latency under content-based user association is less than that of location-based user association, and although the difference in the average rates under the two user associations is not obvious, content-based association can extricate more backhaul capacity and thus reduce installation cost significantly.