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    Franklin St Melrose, MA 02176

    Sponsored
    For Sale
    $1,100,000

    Three-unit building, prime Melrose location, high potential.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    339
    This exceptional investment property, situated on a 0.09-acre lot on Franklin Street in Melrose, Massachusetts, presents a compelling opportunity for discerning investors and developers. The meticulously maintained building encompasses 2,288 square feet and features three individual units, offering immediate rental income potential. Its strategic location places it within easy walking distance of the Melrose MBTA line, making it an incredibly attractive proposition for transit-oriented development. The property is zoned BA-2, a designation that opens doors to a variety of uses, including retail, street retail, and mixed-use developments. This zoning flexibility allows for significant adaptability and potential for future expansion or repurposing to meet evolving market demands. The strong Melrose market provides a stable foundation for long-term growth and profitability. This is a rare chance to acquire a well-maintained, income-producing asset in a highly desirable and convenient location, offering both immediate returns and significant long-term upside. The asking price for this exceptional property is $1,100,000. Serious inquiries are encouraged.

    Property Features for Franklin St

    General Information

    Property type
    Other commercial real estate
    Lot Size
    3,920 SF

    Building Details

    Year Built
    1924
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Melrose
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.06165
    Latitude
    42.46695

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    FAQs

    What type of property is this?
    Commercial real estate - Three-unit building, prime Melrose location, high potential.
    Where is this commercial real estate located?
    The property is located at Franklin St Melrose, MA.
    What is the asking price?
    The asking price for this property is $1,100,000.
    (978) 804-4450
    Request Owner's contact information
    Franklin St Melrose, MA 02176
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    Melrose, MA 02176
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Franklin St Melrose, MA 02176
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