Medical Office Suite
For Sale
$899,000
1-830 Main St, Melrose, MA 02176
Lower-level medical and professional suite with multiple exam rooms, offices, and parking for staff and visitors.
Property Size2,058 SF
Price / SF$436.83
Days on Market350
Property Features for 1-830 Main St
General Information
Standard status
Active
Size
2,058 SF
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$10,721
Building Details
Tenancy
Single
Listing Agency:
Mallon Real Estate
(781) 321-2233
Listed By:
Joseph Mallon
(617) 504-4144
Source:
Exprealty
Added: Nov 3, 2025
Changed: Oct 2
Last Checked: Oct 19 at 7:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mallon Real Estate
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Investment Insights
Based on property information with market context.
This office suite condo is configured for medical or professional use and is located in a lower-level space. The interior includes five exam rooms, two private offices, and a spacious reception area with custom built-ins. Additional common-facing space can function as a second reception or waiting area, supported by a staff lounge and kitchenette. The suite also features two bathrooms, a business center, and dedicated storage.
The property is described as a walkable location near MelroseWakefield Hospital, with nearby public transit access and proximity to downtown Melrose. Onsite parking is available.
For tenants seeking a turnkey space for patient-facing services or client meetings, the room count and layout support an operational flow from reception through exam rooms, with offices and back-of-house amenities like a staff lounge and kitchenette. The presence of multiple bathrooms, storage, and a business center can help streamline day-to-day needs in a professional or clinical environment. As a suite condominium, it offers an organized, self-contained option for medical or office users looking to operate from a dedicated interior space with parking.
The property is described as a walkable location near MelroseWakefield Hospital, with nearby public transit access and proximity to downtown Melrose. Onsite parking is available.
For tenants seeking a turnkey space for patient-facing services or client meetings, the room count and layout support an operational flow from reception through exam rooms, with offices and back-of-house amenities like a staff lounge and kitchenette. The presence of multiple bathrooms, storage, and a business center can help streamline day-to-day needs in a professional or clinical environment. As a suite condominium, it offers an organized, self-contained option for medical or office users looking to operate from a dedicated interior space with parking.
Key Highlights
- Lower‑level office suite condo set up for medical or professional use.
- Includes 5 exam rooms, 2 private offices, and spacious reception with custom built‑ins.
- Additional reception or waiting area plus a business center, staff lounge, and kitchenette.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,301
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,306,020
$1.3M
Cap Rate 7%
$932,871
$932.9K
Cap Rate 9%
$725,567
$725.6K
Market Conditions
NOI Build-Up for 2,058 SF
Gross rent
$111.6K $54.24/SF
− Vacancy
−$24.6K −$11.93/SF
EGI
$87.1K $42.31/SF
− OpEx
−$21.8K −$10.58/SF
NOI
$65.3K $31.73/SF
Area
Middlesex County, MA
Vacancy
22.00%
Lease Rate
$54.24 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,306,020
Cap Rate 7%
$932,871
Cap Rate 9%
$725,567
Alternative Uses
Best Use
Office B
$932.9K
$816.3K – $1.09M
NOI $65,301 @ 7.0% cap · market cap 7.26%
Second Best
Healthcare Medical
$853.4K
$746.7K – $995.6K
NOI $59,737 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,283 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
377
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02176, MA
29,817
Population
12,724
Households
2.3
Avg Household Size
41
Median Age
62%
College-Educated
95%
High-School Grad
4.7 sq mi
ZIP Area
6,344
Density / Sq Mi
$126,854
Median Household Income
$80,293
Median Earnings
$1,933
Median Rent
$796,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Lower-level medical and professional suite with multiple exam rooms, offices, and parking for staff and visitors.
Where is this medical office space located?
The property is located at 1-830 Main St Melrose, MA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Lower‑level office suite condo set up for medical or professional use.; Includes 5 exam rooms, 2 private offices, and spacious reception with custom built‑ins.; Additional reception or waiting area plus a business center, staff lounge, and kitchenette.
