Well-Maintained Commercial Building For
For Sale
$999,000
365 Salem St Medford, Medford, MA 02155
Turnkey commercial building with street-level retail and finished lower level.
Property Size4,100 SF
Price / SF$243.66
Days on Market105
Property Features for 365 Salem St Medford
General Information
Standard status
Active
Size
4,100 SF
Zoning
APT-1
Taxes and HOA fees
Annual Taxes
$8,970
Building Details
Year Built
1918
Listing Agency:
(508) 501-1443
Listed By:
Leanne McCormick
(508) 501-1443
Source:
Milestonerealtyinc
Added: May 16
Changed: Aug 28
Last Checked: Aug 28 at 7:26AM
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 Leanne McCormick
Investment Insights
Based on property information with market context.
This well-maintained commercial building offers approximately 4,100 square feet of space, including approximately 2,050 square feet of street-level retail space and a fully finished lower level. The property is currently configured for professional service use, featuring a reception area, treatment rooms, and restrooms. It is suitable for owner-users, wellness centers, medical practices, or service-oriented businesses seeking a property in turnkey condition. The building benefits from prominent visibility on Salem Street, situated just east of I-93. The property is shown by appointment only.
Key Highlights
- ±4,100 SF commercial building with ±2,050 SF street‑level retail
- Fully finished lower level
- Turnkey condition, ideal for owner‑user**
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
$58,929
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
5.90%
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%
$1,178,580
$1.2M
Cap Rate 7%
$841,843
$841.8K
Cap Rate 9%
$654,767
$654.8K
Market Conditions
NOI Build-Up for 4,100 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
$90.0K $21.96/SF
− Vacancy
−$5.9K −$1.43/SF
EGI
$84.2K $20.53/SF
− OpEx
−$25.3K −$6.16/SF
NOI
$58.9K $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%
$1,178,580
Cap Rate 7%
$841,843
Cap Rate 9%
$654,767
Alternative Uses
Best Use
Retail
$841.8K
$736.6K – $982.2K
NOI $58,929 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.43M
$2.12M – $2.83M
NOI $169,903 @ 7.0% cap · market cap 17.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
739
Businesses Nearby
78k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 57%
Shops & Services 31%
Dining 11%
Electronics 2%
Target
Superstores
44,495 visits/mo
0.3 miles
Sunoco
Shops & Services
12,913 visits/mo
0.3 miles
Dunkin' Donuts
Dining
8,275 visits/mo
0.2 miles
Citizens Bank
Shops & Services
7,816 visits/mo
0.2 miles
Valvoline Instant Oil Change
Shops & Services
2,589 visits/mo
0.4 miles
Demographics for 02155, MA
61,483
Population
25,893
Households
2.4
Avg Household Size
36
Median Age
58%
College-Educated
93%
High-School Grad
8.2 sq mi
ZIP Area
7,498
Density / Sq Mi
$118,403
Median Household Income
$60,825
Median Earnings
$2,483
Median Rent
$715,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Turnkey commercial building with street-level retail and finished lower level.
Where is this retail space located?
The property is located at 365 Salem St Medford Medford, MA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: ±4,100 SF commercial building with **±2,050 SF street‑level retail**; Fully finished lower level; Turnkey condition, ideal for owner‑user**
