Single-Story
New
For Sale
$1,800,000
45 W Foster Street, Melrose, MA 02176
An open-plan commercial space with BA-1 zoning sits amid downtown businesses and municipal parking.
Property Size4,150 SF
Price / SF$433.73
Days on Market5
Property Features for 45 W Foster Street
General Information
Standard status
Active
Size
4,150 SF
Property subtype
Commercial
Zoning
BA-1
Lease Term
[]
Building Details
Year Built
1953
Buildings
1
Stories
1
Listing Agency:
Pondfield Commercial Group
Listed By:
Jason Madden
(617) 262-6200
Source:
Cabotandcompany
Added: Oct 1
Changed: Oct 4
Last Checked: Oct 4 at 9:55AM
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 Pondfield Commercial Group
Investment Insights
Based on property information with market context.
This freestanding storefront in downtown Melrose contains 4,150 square feet in a single-story, single-unit layout. The interior is open, and the property was built in 1953. BA-1 zoning applies.
At 45 W Foster Street, the building is positioned within the Main Municipal Parking Lot and among downtown destinations including Shaw’s, CVS, Turner’s Seafood, Bruegger’s Bagels, and Caffè Nero.
At 45 W Foster Street, the building is positioned within the Main Municipal Parking Lot and among downtown destinations including Shaw’s, CVS, Turner’s Seafood, Bruegger’s Bagels, and Caffè Nero.
Key Highlights
- 4,150‑square‑foot freestanding commercial building
- Single‑story structure with an open, single‑unit layout
- BA‑1 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,647
Cap Rate
3.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,192,940
$1.2M
Cap Rate 7%
$852,100
$852.1K
Cap Rate 9%
$662,744
$662.7K
Market Conditions
NOI Build-Up for 4,150 SF
Gross rent
$91.1K $21.96/SF
− Vacancy
−$5.9K −$1.43/SF
EGI
$85.2K $20.53/SF
− OpEx
−$25.6K −$6.16/SF
NOI
$59.6K $14.37/SF
Area
Middlesex County, MA
Vacancy
6.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,192,940
Cap Rate 7%
$852,100
Cap Rate 9%
$662,744
Alternative Uses
Best Use
Retail
$852.1K
$745.6K – $994.1K
NOI $59,647 @ 7.0% cap · market cap 3.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.46M
$2.15M – $2.87M
NOI $171,975 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,350
Businesses Nearby
74k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 42%
Shops & Services 30%
Dining 25%
Leisure 1%
Shaw's Supermarket
Groceries
31,118 visits/mo
0.1 miles
Starbucks
Dining
9,356 visits/mo
0.1 miles
Mobil
Shops & Services
8,056 visits/mo
0.2 miles
Dunkin' Donuts
Dining
7,450 visits/mo
0.2 miles
Bank of America
Shops & Services
7,063 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Similar Off Market Nearby
- Green Rose — 35 green st, melrose, ma 02176
Frequently Asked Questions
What type of property is this?
Storefront property - An open-plan commercial space with BA-1 zoning sits amid downtown businesses and municipal parking.
Where is this storefront property located?
The property is located at 45 W Foster Street Melrose, MA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 4,150‑square‑foot freestanding commercial building; Single‑story structure with an open, single‑unit layout; BA‑1 zoning
