Auto Repair and Auto Body
For Sale
$1,259,000
62-64 Eastern Ave, Malden, MA 02148
Existing auto repair and autobody use with finished building space on a modest lot in Malden.
Property Size3,514 SF
Price / SF$358.28
Days on Market215
Property Features for 62-64 Eastern Ave
General Information
Standard status
Active
Size
3,514 SF
Property subtype
Commercial
Zoning
BH
Taxes and HOA fees
Annual Taxes
$11,061
Building Details
Building Size
3,514 SF
Year Built
1910
Listing Agency:
Ellis Realty Advisors
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Feb 24
Changed: Sep 26
Last Checked: Sep 26 at 5:35AM
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 Ellis Realty Advisors
Investment Insights
Based on property information with market context.
This commercial property at 62-64 Eastern Ave, Malden, MA 02148 is currently used for auto-related repairs and autobody services. The building includes 3,514 square feet of finished space, and sits on a 4,648 square foot lot.
The offering is positioned in one of Malden’s higher-traffic areas with convenient access to public transportation, including the Malden T Station, as well as major highway routes.
For buyers seeking an automotive-focused facility with established operations, the property’s existing auto repair and autobody improvements provide a practical foundation for continued use.
The offering is positioned in one of Malden’s higher-traffic areas with convenient access to public transportation, including the Malden T Station, as well as major highway routes.
For buyers seeking an automotive-focused facility with established operations, the property’s existing auto repair and autobody improvements provide a practical foundation for continued use.
Key Highlights
- 3,514 SF finished commercial space on a 4,648 SF lot in Malden
- Currently used for auto‑related repairs and autobody services
- Year built: 1910
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
$50,506
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
4.01%
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%
$1,010,120
$1.0M
Cap Rate 7%
$721,514
$721.5K
Cap Rate 9%
$561,178
$561.2K
Market Conditions
NOI Build-Up for 3,514 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
$77.2K $21.96/SF
− Vacancy
−$5.0K −$1.43/SF
EGI
$72.2K $20.53/SF
− OpEx
−$21.6K −$6.16/SF
NOI
$50.5K $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 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%
$1,010,120
Cap Rate 7%
$721,514
Cap Rate 9%
$561,178
Alternative Uses
Best Use
Retail
$721.5K
$631.3K – $841.8K
NOI $50,506 @ 7.0% cap · market cap 4.01%
Second Best
Industrial
$534.0K
$467.2K – $623.0K
NOI $37,378 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,619 @ 7.0% cap · market cap 11.57%
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
2,421
Businesses Nearby
141k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 51%
Shops & Services 28%
Dining 13%
Electronics 8%
Stop & Shop
Groceries
71,257 visits/mo
0.3 miles
Dunkin' Donuts
Dining
16,186 visits/mo
0.1 miles
Bank of America
Shops & Services
13,760 visits/mo
0.3 miles
7-Eleven
Shops & Services
8,925 visits/mo
0.5 miles
Mobil
Shops & Services
8,192 visits/mo
0.4 miles
Demographics for 02148, MA
66,274
Population
28,043
Households
2.4
Avg Household Size
36
Median Age
45%
College-Educated
87%
High-School Grad
5.0 sq mi
ZIP Area
13,255
Density / Sq Mi
$95,298
Median Household Income
$56,077
Median Earnings
$2,066
Median Rent
$607,500
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
- Main Street Auto — 394 Main St, Everett, MA 02149
- Tires workshop & Detailing RF — 392 Pearl St, Malden, MA 02148
- Beyer Store — 180 Bradford St, Everett, MA 02149
- Ferry Street Services Station — 464 Ferry St, Everett, MA 02149
- J.D.R towing Service — 28 Thacher St, Malden, MA 02148
Frequently Asked Questions
What type of property is this?
Auto shop - Existing auto repair and autobody use with finished building space on a modest lot in Malden.
Where is this auto shop located?
The property is located at 62-64 Eastern Ave Malden, MA.
What is the asking price?
The asking price for this property is $1,259,000.
What are key features of this property?
This property features: 3,514 SF finished commercial space on a 4,648 SF lot in Malden; Currently used for auto‑related repairs and autobody services; Year built: 1910
