Melrose Commercial Condos Near
For Sale
$450,000
26 W Wyoming Ave #b1, Melrose, MA 02176
Two commercial condo units near Melrose's West Wyoming train station.
Property Size1,500 SF
Price / SF$300
Days on Market107
Property Features for 26 W Wyoming Ave #b1
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Commercial
Zoning
BA2
Taxes and HOA fees
Annual Taxes
$2,648
Building Details
Year Built
1971
Listing Agency:
Boston Commonwealth Real Estate
(781) 475-0293
Listed By:
Gregory W. Fiore
(781) 475-0293
Source:
Liongatere
Added: Apr 25
Changed: Aug 8
Last Checked: Jul 16 at 11:24AM
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 Boston Commonwealth Real Estate
Investment Insights
Based on property information with market context.
Two commercial condominium units are available in a prime downtown location next to the West Wyoming commuter rail station in Melrose, MA. Unit B1 offers approximately 1,500 square feet with direct garage access via a ramp for easy loading and unloading, and a secure entry. The unit has a flexible layout, bathroom and shower, floor drain, and circuit breakers. Unit B1 is suitable for a range of commercial uses. The condo fee is $422.17, and the 2026 taxes are $3,316. Unit B2 offers approximately 700 square feet with a separate exterior entrance and office, warehouse, and storage versatility. It includes a half bathroom and circuit breaker. The condo fee is $362.03, and the 2026 taxes are $1,657. Both units have two deeded outdoor parking spaces, and guest spots are available. The condo fee includes water and sewer, common electricity, master insurance, property management, landscaping and general maintenance, snow removal, and elevator maintenance. These units are ideal for businesses seeking visibility, accessibility, and versatile workspace, office space, storage, or a potential art studio.
Key Highlights
- Prime downtown location, steps from the commuter rail station.
- Two deeded commercial condominium units totaling approximately 2,200 sq ft (1,500 sq ft + 700 sq ft).
- Versatile workspace suitable for office, storage, or potential art studio.
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
$19,374
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
4.31%
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%
$387,480
$387.5K
Cap Rate 7%
$276,771
$276.8K
Cap Rate 9%
$215,267
$215.3K
Market Conditions
NOI Build-Up for 1,500 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
$24.1K $16.08/SF
− Vacancy
−$1.3K −$0.88/SF
EGI
$22.8K $15.20/SF
− OpEx
−$3.4K −$2.28/SF
NOI
$19.4K $12.92/SF
Area
Middlesex County, MA
Vacancy
5.50%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
15.00%
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%
$387,480
Cap Rate 7%
$276,771
Cap Rate 9%
$215,267
Alternative Uses
Best Use
Office B
$679.9K
$595.0K – $793.3K
NOI $47,596 @ 7.0% cap · market cap 10.58%
Second Best
Warehouse
$276.8K
$242.2K – $322.9K
NOI $19,374 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$888.0K
$777.0K – $1.04M
NOI $62,160 @ 7.0% cap · market cap 13.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,251
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
Market
Vacancy Rate% for Office 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?
Office units - Two commercial condo units near Melrose's West Wyoming train station.
Where is this office units located?
The property is located at 26 W Wyoming Ave #b1 Melrose, MA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Prime downtown location, steps from the commuter rail station.; Two deeded commercial condominium units totaling approximately 2,200 sq ft (1,500 sq ft + 700 sq ft).; Versatile workspace suitable for office, storage, or potential art studio.
