Redevelopment Opportunity in
For Sale
$3,000,000
Pending
244 Main Street, Melrose, MA 02176
Land for sale with redevelopment potential near public transportation.
Property SizeContact for details
Days on Market359
Property Features for 244 Main Street
General Information
Standard status
Pending
Property subtype
Land/Lot
Listing Agency:
William Raveis R.E. & Home Services
Listed By:
Kevin Sexton
(781) 640-1484
Source:
Findyournewenglandhome
Added: Sep 12, 2025
Changed: Sep 3
Last Checked: Sep 2 at 8:20PM
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 9 units or more. The seller makes no representations regarding the city's willingness to grant such a special permit and offers no warranties concerning the potential highest and best use. All due diligence is the responsibility of the buyer and their agents. 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 lot size (31,737 sqft when combined with adjacent property).
- Located on the MBTA bus line.
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?
Land - Land for sale with redevelopment potential near public transportation.
Where is this land 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 lot size (31,737 sqft when combined with adjacent property).; Located on the MBTA bus line.
