Commercial Real Estate Market in Melrose, MA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
28 active listings and 299 off-market properties in Melrose, MA. Commercial property asks $753/SF to buy and $32.72/SF/Yr to lease.
Market Trends
Melrose, MA spans 4.7 square miles in Middlesex County, Massachusetts. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Melrose, MA runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
Retail
Retail vacancy in Melrose, MA runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Melrose, MA runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in Melrose, MA asks $318/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 93.6%
- Commercial 4.6%
- Industrial 1.2%
- Mixed use 0.7%
Largest Zones share of zoned land by district
Urban Residence A
Suburban Residence A
Urban Residence B
Suburban Residence B
Urban Residence C
Melrose, MA zones 3,062 acres across 15 districts. Commercial zoning covers 4.6% of zoned land, residential 93.6% and industrial 1.2%. The largest single district is Urban Residence A at 51.1%. For commercial buyers the practical constraint is that only 5.7% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Melrose, MA has 29,817 residents in 12,724 households. Density runs 6,367 people per square mile. Median household income here is $126,854 and median gross rent $1,933 a month.
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
6,367
Density / Sq Mi
$126,854
Median Household Income
$80,293
Median Earnings
$1,933
Median Rent
$796,100
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Stoneham | — | $22.00 |
| Malden | — | $35.26 |
| Saugus | — | $27.71 |
| Wakefield | — | $15.67 |
Commercial property in Melrose, MA asks $753/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Melrose?
Commercial property in Melrose, MA asks an average of $753 per square foot. The 5 most recent recorded sales traded at a median of $304/SF, so asking sits 147% above the achieved median. Multifamily carries the highest asking price at $318/SF.
How much does it cost to lease commercial space in Melrose?
Asking lease rates in Melrose, MA average $32.72 per square foot per year.
What zoning applies to commercial property in Melrose?
Melrose, MA zones 3,062 acres across 15 districts, of which 4.6% is commercial and 1.2% industrial. The largest single district is Urban Residence A at 51.1% of zoned land. Residential zoning covers 93.6% and open space 0%.
Where does Realmo's Melrose market data come from?
Realmo compiles Melrose, MA figures from 6 recent recorded sales, 20 active sale listings, 8 active lease listings, 299 tracked off-market properties, the current Melrose zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 20 active for-sale and 8 active for-lease listings in Melrose, MA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 3,062 zoned acres across 15 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level, industrial vacancy is reported at Northeast region level and asking prices run materially above recent closed pricing.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
