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    681-697 Main St Melrose, MA 02176

    For Lease
    $60 SF/Yr

    New construction retail and restaurant spaces in mixed-use building.

    Lot size:
    0.20 Acres

    Property Features for 681-697 Main St

    General Information

    Lot size
    0.20 Acres

    Building Details

    Year built
    2025

    Source: Pondfield Commercial Group Agent Michael J. Chapin

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

    Overview

    Melrose Retail Space For Lease

    New construction is planned in Melrose, with an estimated delivery of the first quarter of 2027. The development involves demolishing the former Carusos Pizza building to make way for a new four-story mixed-use building. The property will feature approximately 4,000 square feet of retail space on Main Street. All Main Street commercial spaces include full-height basements. Additionally, there is 4,400 square feet of second-floor commercial space overlooking Main Street and Ell Pond. Layouts are flexible, and spaces can be sized to fit tenants' needs. Plans call for a restaurant space to be situated next to the municipal parking lot, facing Ell Pond. There are 42 free, municipal parking spots located adjacent to the property, as well as on-street parking on both sides of Main Street.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Melrose
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.062807
    Latitude
    42.458911

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    FAQs

    What type of property is this?
    Retail space - New construction retail and restaurant spaces in mixed-use building.
    Where is this retail space located?
    The property is located at 681-697 Main St Melrose, MA.
    What is the lease rate?
    The lease rate is $60 SF/Yr.
    What are key features of this property?
    This property features: - New construction mixed-use building on Main Street in Melrose.; - Prime Main Street retail space available with flexible layouts to fit tenant needs.; - Full height basements included with Main Street commercial spaces.
    (617) 548-5565
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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
    681-697 Main St Melrose, MA 02176
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