Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    399 Main St Malden, MA 02148

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    24,000 SF freestanding building in downtown Malden.

    Property size:
    23,900 SF

    Property Features for 399 Main St

    General Information

    Standard status
    Active
    Size
    23,900 SF

    Building Details

    Year built
    1922

    We can help!

    Listing Contact
    Michael J. Chapin
    Source: Corcoran

    Listing Agency: Pondfield Commercial Group Listing Agent: Michael J. Chapin

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Iconic Malden Square Building For Sale

    This iconic freestanding building, formerly a bank, is available for sale or lease in the heart of downtown Malden Square. The building offers 24,000 square feet across three full levels plus a lower level, all featuring high ceilings. The interior has been completely demolished and abated, presenting a blank slate for customization. The property is adjacent to a 45-car municipal parking lot and one block from a 600-car parking garage. It benefits from high visibility at the intersection of Main Street and Pleasant Street. The full 24,000 square foot building is available, with potential subdivision down to 5,000 square feet. An elevator services all four floors. Some outdoor space is available for patio seating. The building is located across the street from Malden High School and within the nation's only Gaming District.
    Location Intelligence

    Current Use by Public Records

    Citizens Bank ATM Atm Medford Bank Bank Citizens Atm

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Malden
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.0669396
    Latitude
    42.4262621

    Nearby Similar for Sale

    • New
      $1,350,000
      5,350 SF

      Renovated Multifamily on Corner Lot

      Recently renovated multifamily property with expansion potential in Malden.
      209 Summer St, Malden, MA 02148
      View Details
    • New
      $899,900
      2,208 SF

      Well-Maintained Multifamily Property in Malden

      Five-bedroom, two-bath multifamily property with recent improvements and ample parking.
      46 A Wentworth St, Malden, MA 02148
      View Details
    • Contact for pricing
      187,000 SF

      Trophy Office and Mixed-Use Project

      188,000 SF mixed-use project with life science, office, and retail.
      11 Dartmouth St, Malden, MA 02148
      View Details
    • $180,000

      Malden Mini Mart For Sale

      Turnkey convenience store in a busy Malden neighborhood.
      000 Salem St, Malden, MA 02148
      View Details
    • $30,000

      High-End Beauty Spa For Sale

      Fully renovated beauty spa in Malden's commercial district.
      1 Pleasant St, Malden, MA 02148
      View Details
    • New
      $550,000
      1,048 SF

      Renovated Commercial Space Near Station

      1,048 SF renovated commercial space across from Oak Grove T-station.
      1 Glenwood St, Malden, MA 02148
      View Details
    • Contact for pricing
      8,400 SF

      Malden Retail Building For Sale

      Retail building near downtown Malden and MBTA T Stop.
      77 Commercial St, Malden, MA 02148
      View Details
    • Contact for pricing
      187 SF

      Trophy Office and Mixed-Use Project

      188,000 SF office and mixed-use project in premier urban location.
      11 Dartmouth St, Malden, MA 02148
      View Details
    • Contact for pricing
      11,945 SF

      Malden Industrial Property Available

      Industrial property with 11,945 square feet of space for sale.
      260 Eastern Ave, Malden, MA 02148
      View Details
    • $950,000

      Well-Maintained Triplex Near Transportation

      Triplex with rental income potential, near Wellington Station.
      108 Highland Ave, Malden, MA 02148
      View Details
    • $669,900

      Malden Investment Property Opportunity

      Investment property with potential, close to transportation and amenities.
      28 Shawmut St, Malden, MA 02148
      View Details
    • $839,000

      Updated Two-Family in Malden

      Well-maintained two-family property with updated units near Malden Center.
      11-13 Hudson St, Malden, MA 02148
      View Details

    FAQs

    What type of property is this?
    Office building - 24,000 SF freestanding building in downtown Malden.
    Where is this office building located?
    The property is located at 399 Main St Malden, MA.
    What are key features of this property?
    This property features: - Iconic 24,000 sq ft free-standing building in Malden Square.; - Prime location at the intersection of Main St and Pleasant St with great visibility.; - Interior is a blank slate, completely demo'd/abated.
    (781) 662-1700
    Request Owner's contact information
    399 Main St Malden, MA 02148
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    399 Main St
    Malden, MA 02148
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    399 Main St Malden, MA 02148
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Michael J. Chapin
    (781) 662-1700 (617) 548-5565
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!