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

    437-445 Franklin St Melrose, MA 02176

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

    4,448 SF building in Melrose Market with BA-2 zoning.

    Property size:
    4,448 SF

    Property Features for 437-445 Franklin St

    General Information

    Standard status
    Active
    Size
    4,448 SF

    Building Details

    Year built
    1914

    We can help!

    Listing Contact
    Gianni De Palma
    Source: Corcoran

    Listing Agency: GDP Real Estate Group, LLC Listing Agent: Gianni De Palma

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

    Learn more

    Overview

    Melrose Mixed-Use Investment Opportunity

    This 4,448 square foot building is located in Melrose, Massachusetts, and offers an investment opportunity in the Melrose Market area. The property is zoned BA-2, presenting possibilities for retail, street retail, and mixed-use ventures. This transit-oriented site is located steps away from the Melrose MBTA line.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Melrose
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.0678074
    Latitude
    42.4688574

    Nearby Similar for Sale

    • $999,999

      Medical Office Condo Near Hospital

      Medical/professional office condo near MelroseWakefield Hospital and downtown Melrose.
      830 Main St, Melrose, MA 02176
      View Details
    • $1,650,000
      2,940 SF

      Melrose Multifamily Investment Opportunity

      Seven-unit multifamily property near Wyoming Hill MBTA station.
      46-48 Waverly Pl, Melrose, MA 02176
      View Details
    • Contact for pricing
      1,762 SF

      Melrose Commercial Building on Main

      Free-standing commercial building with parking in Melrose, Massachusetts.
      138 Main St, Melrose, MA 02176
      View Details
    • $1,325,000

      Melrose Multifamily Investment Opportunity

      Four units with income potential near transportation and recreation.
      35-41 Brazil St, Melrose, MA 02176
      View Details
    • $7,000,000

      Melrose Multifamily Investment Opportunity

      Well-maintained 24-unit building with value-add potential in desirable location.
      447 Pleasant St, Melrose, MA 02176
      View Details
    • $7,700,000

      Melrose Multifamily Investment Opportunity

      Well-maintained 23-unit building in urban Melrose location.
      333 Main St, Melrose, MA 02176
      View Details
    • Contact for pricing

      Veterinary Clinic Investment Opportunity

      Fully leased veterinary clinic in Melrose through 2040.
      26 Essex St, Melrose, MA 02176
      View Details
    • Contact for pricing

      Melrose Duplex in Prime Location

      Rare side-by-side duplex in a prime Melrose location.
      6-8 Linden Rd, Melrose, MA 02176
      View Details
    • Contact for pricing

      Melrose Mixed-Use Investment Opportunity

      2,288 SF 3-unit building in thriving Melrose Market.
      371-377 Franklin St, Melrose, MA 02176
      View Details
    • $1,100,000
      0.09 Acres

      Melrose Multi-Family Investment Opportunity

      Three-unit building, prime Melrose location, high potential.
      Franklin St, Melrose, MA 02176
      View Details

    FAQs

    What type of property is this?
    Retail space - 4,448 SF building in Melrose Market with BA-2 zoning.
    Where is this retail space located?
    The property is located at 437-445 Franklin St Melrose, MA.
    What are key features of this property?
    This property features: - Prime investment opportunity in the heart of Melrose, MA.; - **4,448 SF building** in the thriving Melrose Market.; - Coveted BA-2 zoning allows for Retail / Street Retail and mixed-use development.
    (978) 804-4450
    Request Owner's contact information
    437-445 Franklin St Melrose, MA 02176
    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.
    437-445 Franklin St
    Melrose, MA 02176
    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
    437-445 Franklin St Melrose, MA 02176
    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
    Gianni De Palma
    (978) 804-4450
    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!