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    Property profile & analytics

    374 Broadway Malden, MA 02148

    • Commercial real estate
    • 3,000 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1840348
    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

    • Commercial real estate

    Property Details for 374 Broadway

    Year built
    1880
    Property size
    3,000 SF
    Property type
    Commercial real estate

    Description

    This exceptional value-add opportunity presents a two-unit apartment building at 374 Broadway, Malden, MA 02148. Located in a growing submarket just five miles north of Boston, this property offers significant upside potential. The building, constructed in 1880, comprises approximately 3,000 square feet across three stories and sits on a 4,000 square foot lot. It features two units: a two-bedroom and a three-bedroom, totaling 1,600 net rentable square feet. Currently boasting 100% occupancy (as of August 13, 2024), this property presents a strong cash flow opportunity. The asking price is $785,000, translating to $261.67 per square foot and $392,500 per unit. Off-street parking for three vehicles is available at the rear of the building. Investors can maximize returns through strategic in-unit upgrades and common area renovations. The property also presents an attractive option for owner-occupiers seeking to utilize one unit while generating rental income from the other. This is a rare chance to acquire a well-located multifamily property with substantial growth potential in a desirable Massachusetts location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Malden
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.038248925125
    Latitude
    42.435688432368

    Comparable in this City

    • $1,850,000
      4,208 SF

      Malden Apartments: Value-Add Opportunity

      Seven-unit apartment building in Malden with value-add potential.
      2 Granite St, Malden, MA 02148
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    • $720,000

      Malden Two-Family Home with Garage

      Two-family home with recent updates and development potential.
      74 Madison St, Malden, MA 02148
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    • $999,999

      Two-Family Home in Prime Location

      Two-family home near schools, parks, transit, and shopping.
      394-396 Pleasant St, Malden, MA 02148
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    • $950,000

      Well-Maintained Triplex Near Transportation

      Triplex with rental income potential, near Wellington Station.
      108 Highland Ave, Malden, MA 02148
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    • $1,150,000
      2,782 SF

      Updated Three-Family Home in Malden

      Well-maintained three-family home with updates and convenient location.
      100 Medford St, Malden, MA 02148
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    • $739,000
      2,236 SF

      Malden Two-Family Investment Opportunity

      Two-family home in Malden, MA, requiring full renovation.
      16 Boylston St, Malden, MA 02148
      View Details

    Similar Nearby for Sale

    • $1,850,000
      4,208 SF

      Malden Apartments: Value-Add Opportunity

      Seven-unit apartment building in Malden with value-add potential.
      2 Granite St, Malden, MA 02148
      View Details
    • $720,000

      Malden Two-Family Home with Garage

      Two-family home with recent updates and development potential.
      74 Madison St, Malden, MA 02148
      View Details
    • $999,999

      Two-Family Home in Prime Location

      Two-family home near schools, parks, transit, and shopping.
      394-396 Pleasant St, Malden, MA 02148
      View Details
    • $950,000

      Well-Maintained Triplex Near Transportation

      Triplex with rental income potential, near Wellington Station.
      108 Highland Ave, Malden, MA 02148
      View Details
    • $1,150,000
      2,782 SF

      Updated Three-Family Home in Malden

      Well-maintained three-family home with updates and convenient location.
      100 Medford St, Malden, MA 02148
      View Details
    • $739,000
      2,236 SF

      Malden Two-Family Investment Opportunity

      Two-family home in Malden, MA, requiring full renovation.
      16 Boylston St, Malden, MA 02148
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      101,803 SF

      Malden Industrial Flex Space Available

      101,803 SF Warehouse, 25,095 SF Vacant
      1 Wesley St, Malden, MA 02148
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    • $12,000 /Mo

      Renovated Commercial Space in Malden

      Versatile 2,000 sq ft space with parking for 30 vehicles.
      69 Newland St, Malden, MA 02148
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    • Contact for pricing
      4,859 SF

      Medical Office Space in Malden

      Medical office space for lease near public transportation.
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    • $1,800 /Mo

      Retail Space Near Malden Center

      Retail space for rent near Malden Center T Station.
      75 Pleasant Street Park, Malden, MA 02148
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    • Contact for pricing
      1,291 SF

      Malden Warehouse Space Available

      Warehouse space for rent in Malden, Massachusetts.
      129 Commercial St, Malden, MA 02148
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    • Contact for pricing
      2,017 SF

      Retail Space Near MBTA Station

      Street retail space with storage near Malden Center MBTA station.
      190 Pleasant St, Malden, MA 02148
      View Details
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    374 Broadway
    Malden, MA 02148
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    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
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