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    371-377 Franklin St Melrose, MA 02176

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    For Sale
    $949,900

    2,288 SF 3-unit building in thriving Melrose Market.

    Lot size:
    0.09 Acres

    Property Features for 371-377 Franklin St

    General Information

    Lot size
    0.09 Acres

    Building Details

    Year built
    1924

    Source: GDP Real Estate Group, LLC Agent Gianni De Palma

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Melrose Mixed-Use Investment Opportunity

    This meticulously-maintained 2,288 SF building, featuring 3 units, is located in Melrose, MA. It offers a potential investment opportunity in the thriving Melrose Market. The property is zoned BA-2, presenting possibilities for retail, street retail, and mixed-use investors and developers. The location is steps away from the Melrose MBTA line, making it a transit-oriented development site.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Melrose
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.0668574
    Latitude
    42.4685672

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    FAQs

    What type of property is this?
    Retail space - 2,288 SF 3-unit building in thriving Melrose Market.
    Where is this retail space located?
    The property is located at 371-377 Franklin St Melrose, MA.
    What is the asking price?
    The asking price for this property is $949,900.
    What are key features of this property?
    This property features: - Prime investment opportunity in the heart of Melrose, MA.; - 2,288 SF 3 unit building.; - Coveted BA-2 zoning allows for Retail / Street Retail and mixed-use development.
    (978) 804-4450
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    371-377 Franklin St 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
    371-377 Franklin St Melrose, MA 02176
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