Melrose Commercial Condos Near
For Sale
$450,000
26 W Wyoming Ave b1, Melrose, MA 02176
Two commercial condo units near commuter rail station.
Property Size1,500 SF
Price / SF$300
Days on Market100
Property Features for 26 W Wyoming Ave b1
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Commercial
Building Details
Year Built
1971
Listing Agency:
Boston Commonwealth Real Estate
(781) 475-0293
Listed By:
Gregory W. Fiore
(781) 475-0293
Source:
Elliman
Added: Apr 24
Changed: Jul 6
Last Checked: Aug 1 at 4:40AM
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 Melrose, Massachusetts, situated next to the West Wyoming commuter rail station. Unit B1 offers approximately 1,500 square feet of space with direct garage access via a ramp, secure entry, and a flexible layout. It includes a bathroom, shower, and a floor drain, with circuit breakers located within the unit. The 2026 taxes are $3,316, and the condo fee is $422.17. Unit B2 provides approximately 700 square feet of office, warehouse, or storage space with a separate exterior entrance. It features a half bathroom and circuit breaker in the unit. The 2026 taxes are $1,657, and the condo fee is $362.03. Both units are suitable for a range of commercial uses, including office space, storage, or a potential art studio. Two deeded outdoor parking spaces are included, with guest spots also available. The condo fee covers water, sewer, common electricity, master insurance, property management, landscaping, general maintenance, snow removal, and elevator maintenance. The location has a walk score of 78, indicating it is very walkable, a transit score of 32, indicating some transit options, and a bike score of 34, indicating it is somewhat bikeable.
Key Highlights
- Prime downtown location steps from the West Wyoming commuter rail station.
- Two deeded commercial condo units offering versatile workspace (approx. 1,500 sq ft and 700 sq ft).
- Unit B1 features direct garage access with ramp for easy loading/unloading.
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.1k | $16.08 |
| − Vacancy | −$1.3k | −$0.88 |
| EGI | $22.8k | $15.20 |
| − OpEx | −$3.4k | −$2.28 |
| NOI | $19.4k | $12.92 |
1,500 SF · lease $16.08/SF/yr · vacancy 5.50% · expense 15.00%
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
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Frequently Asked Questions
What type of property is this?
Office units - Two commercial condo units near commuter rail 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 West Wyoming commuter rail station.; Two deeded commercial condo units offering versatile workspace (approx. 1,500 sq ft and 700 sq ft).; Unit B1 features direct garage access with ramp for easy loading/unloading.
