Renovated Commercial Space Near
For Sale
$450,000
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$429.39
Days on Market235
Property Features for 1 Glenwood St # 6
General Information
Standard status
Active
Size
1,048 SF
Property subtype
Commercial
Zoning
NB
Taxes and HOA fees
Annual Taxes
$5,744
Building Details
Building Size
1,048 SF
Year Built
1920
Listing Agency:
Keller Williams Realty
(508) 238-5000
Listed By:
Christine Do · License #449518378
(617) 593-2887
Source:
Churchillprop
Added: Mar 4
Changed: Oct 15
Last Checked: Oct 24 at 2:29PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,048 square foot commercial space is located across from the Oak Grove T-station, offering potential foot traffic. A public parking lot is situated in front of the property. The space has been recently renovated and includes a half bathroom and a storage room. This open space may be suitable for various business ideas, including office, retail sales, and services. The upper levels of the building consist of newly renovated condo units.
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 / Yr
$15,063
Cap Rate
3.35%
Suggested Prices Based on Cap Rates
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
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 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 3.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$620.4K
$542.9K – $723.8K
NOI $43,429 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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 $450,000.
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.
