Renovated Commercial Space Near
For Sale
$500,000
1 Glenwood St 6, Malden, MA 02148
1,048 SF renovated commercial space across from Oak Grove T-station.
Property Size1,048 SF
Price / SF$477.10
Days on Market117
Property Features for 1 Glenwood St 6
General Information
Standard status
Active
Size
1,048 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,817
Building Details
Building Size
1,048 SF
Year Built
1920
Listing Agency:
Keller Williams Realty
(617) 593-2887
Listed By:
Christine Do · License #449518378
(617) 593-2887
Source:
Elliman
Added: Apr 24
Changed: Aug 7
Last Checked: Aug 18 at 8:57AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This 1,048 square foot commercial space is situated across from the Oak Grove T-station, offering potential foot traffic. A public parking lot is located in front of the property. The space was recently renovated and includes a half bathroom and a storage room. The open layout provides opportunities for various business ideas, such as an office, retail sales, or services. The upper levels of the building consist of newly renovated condo units. The location has a walk score of 88, indicating it is very walkable, a transit score of 69, indicating good transit options, and a bike score of 57, indicating it is bikeable.
Key Highlights
- Prime location directly across from Oak Grove T‑station, ensuring high foot traffic.
- Recently renovated commercial space, ready for immediate occupancy.
- Versatile 1,048sf open space suitable for various business types.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,063
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$301,260
$301.3K
Cap Rate 7%
$215,186
$215.2K
Cap Rate 9%
$167,367
$167.4K
Market Conditions
NOI Build-Up for 1,048 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$23.0K $21.96/SF
− Vacancy
−$1.5K −$1.43/SF
EGI
$21.5K $20.53/SF
− OpEx
−$6.5K −$6.16/SF
NOI
$15.1K $14.37/SF
Area
Middlesex County, MA
Vacancy
6.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$301,260
Cap Rate 7%
$215,186
Cap Rate 9%
$167,367
Alternative Uses
Best Use
Retail
$215.2K
$188.3K – $251.1K
NOI $15,063 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$620.4K
$542.9K – $723.8K
NOI $43,429 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,043
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Citizens Bank
Shops & Services
6,108 visits/mo
0.2 miles
Demographics for 02148, MA
66,274
Population
28,043
Households
2.4
Avg Household Size
36
Median Age
45%
College-Educated
87%
High-School Grad
5.0 sq mi
ZIP Area
13,255
Density / Sq Mi
$95,298
Median Household Income
$56,077
Median Earnings
$2,066
Median Rent
$607,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 1,048 SF renovated commercial space across from Oak Grove T-station.
Where is this retail space located?
The property is located at 1 Glenwood St 6 Malden, MA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Prime location directly across from Oak Grove T‑station, ensuring high foot traffic.; Recently renovated commercial space, ready for immediate occupancy.; Versatile 1,048sf open space suitable for various business types.
