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Property profile & analytics

138 Main St Melrose, MA 02176-5226

  • Office buildings
  • 1,762 SF
  • 0.23 lot acres
OFF-MARKET
Last Sale
Jul 29, 2022
$600,000
Value Estimations
$575,000
Show details
Cap Rate Potential
Location Intelligence
Property ID
US38-1849674
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

Current Use by Public Records

  • Office buildings

Property Details for 138 Main St

Year built
1950
Construction
FRAME
Lot size
0.23 lot acres
Property size
1,762 SF
Zone code
URB
Property type
Office buildings
APN
MELR M:0C3 P:00008-9
APU
MELRM0C3P000089

Description

This exceptional commercial property, located at 138 Main Street in Melrose, Massachusetts, presents a unique investment opportunity. The building, constructed in 1950 and renovated around 2010, offers approximately 3,100 square feet of space, including approximately 1,760 square feet above grade and roughly 700 square feet of finished basement office space. An additional 700 square feet of unfinished basement area provides potential for expansion or customization. The property sits on a flat, corner lot of over 10,000 square feet, providing excellent visibility and signage opportunities on Main Street. Nine on-site parking spaces are available, supplemented by ample street parking. The building features a convenient handicap ramp, three half-baths, and a kitchenette/break room. Its prime location offers easy access to public transportation, with bus stops directly in front and proximity to both subway and commuter rail stations. The asking price is $1,100,000. This Class B office building is ideal for a variety of commercial uses. The property is being sold "as is".


Value Estimations

based on Realmo’s proprietary methodology
  • AI approach

    Method
    Estimation
    Statistic approach
    $555,000
    ML approach
    $560,000
  • CAP approach

    CAP Return
    Estimation
    6%
    $925,000
    6.5%
    $855,000
    7%
    $790,000
  • Comparable approach

    Method
    Estimation
    Statistic Estimate
    $619,000
    Market price range: $215k - $619k
    AI Estimate
    $513,000
    Market price range: $135k - $514k

Get a detailed, property-specific valuation — fast and free


Location Insight

  • Map
  • Local Demand
City
Melrose
County
Middlesex
State
Massachusetts
Longitude
-71.0684
Latitude
42.4454
CBSA code
14460
CBSA name
BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$11,455
$441,800
$205,000
$646,800
-
$0.00
$0.00
$0.00
More about this property
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