Redevelopment Opportunity in Melrose,
For Sale
$3,000,000
Pending
244 Main Street, Melrose, MA 02176
Residential land with redevelopment potential near public transportation.
Property SizeContact for details
Lot Size0.73 Acres
Days on Market300
Property Features for 244 Main Street
General Information
Standard status
Pending
Lot size
0.73 Acres
Property subtype
Land or Vacant Lot
Taxes and HOA fees
Annual Taxes
$10,088
Amenities
Sloped
Listing Agency:
William Raveis R.E. & Home Services
(781) 670-5200
Listed By:
Kevin Sexton
Source:
Corcoran
Added: Oct 14, 2025
Changed: Aug 8
Last Checked: Aug 8 at 12:43PM
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 William Raveis R.E. & Home Services
Investment Insights
Based on property information with market context.
This property presents a redevelopment opportunity in conjunction with the sale of 236-238 Main Street. Combining both lots would create a 31,737 square foot lot. Subject to special permitting by the city, there is a possibility of constructing up to 9 units, although the seller provides no guarantees regarding the city's approval or the potential highest and best use. Prospective buyers are responsible for conducting their own due diligence. The property is located on the MBTA bus line and is a short walk from the Commuter Rail and Downtown Melrose.
Key Highlights
- Redevelopment opportunity with potential for multiple units.
- Large 31,737 sqft lot size when combined with adjacent property.
- Possible special permitting for up to 9 units (buyer to verify).
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
957
Businesses Nearby
Explore this area
Business Placement
Demographics for 02176, MA
29,817
Population
12,724
Households
2.3
Avg Household Size
41
Median Age
62%
College-Educated
95%
High-School Grad
4.7 sq mi
ZIP Area
6,344
Density / Sq Mi
$126,854
Median Household Income
$80,293
Median Earnings
$1,933
Median Rent
$796,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Residential land with redevelopment potential near public transportation.
Where is this residential land & home lot located?
The property is located at 244 Main Street Melrose, MA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Redevelopment opportunity with potential for multiple units.; Large 31,737 sqft lot size when combined with adjacent property.; Possible special permitting for up to 9 units (buyer to verify).
