Franklin St Melrose, MA 02176

Property Details for Franklin St

Year built

1924

Lot size

0.09 lot acres

Property type

Commercial real estate

Description

This exceptional investment property, situated on a 0.09-acre lot on Franklin Street in Melrose, Massachusetts, presents a compelling opportunity for discerning investors and developers. The meticulously maintained building encompasses 2,288 square feet and features three individual units, offering immediate rental income potential. Its strategic location places it within easy walking distance of the Melrose MBTA line, making it an incredibly attractive proposition for transit-oriented development. The property is zoned BA-2, a designation that opens doors to a variety of uses, including retail, street retail, and mixed-use developments. This zoning flexibility allows for significant adaptability and potential for future expansion or repurposing to meet evolving market demands. The strong Melrose market provides a stable foundation for long-term growth and profitability. This is a rare chance to acquire a well-maintained, income-producing asset in a highly desirable and convenient location, offering both immediate returns and significant long-term upside. The asking price for this exceptional property is $1,100,000. Serious inquiries are encouraged.

Location Insight

City

Melrose

County

Middlesex

State

Massachusetts

Longitude

-71.0617

Latitude

42.4669