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    Property profile & analytics

    1 Melvin St, Unit 1B Wakefield, MA 01880-2577

    • Industrial properties
    • 2,420 SF
    OFF-MARKET
    Value Estimation
    $290,000
    Location Intelligence
    Property ID
    US38-1119262
    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

    • 1 Melvin Street / Flooring Contractor
    • Precision Auto Works / Car Detailing Service / Auto Body Shop
    • GEM Plumbing and Heating / Plumber / Air Conditioning Contractor
    • R.C. Enterprise Inc. / Electrician / Plumber
    • The Law Office of Franceska J. O'Reilly / Divorce Lawyer / Elder Law Attorney

    Property Details for 1 Melvin St

    Year built
    1987
    Construction
    STEEL FRAME
    Property size
    2,420 SF
    Zone code
    I
    Property type
    Industrial properties
    APN
    WAKE M:000017 B:0018 P:19251B
    APU
    WAKEM000017B0018P19251B

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $265,000

    • CAP approach

      CAP return
      Estimation
      6%
      $365,000
      6.5%
      $365,000
      7%
      $380,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $340,000
      Geo Method
      $400,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $410,000
      Retail
      $310,000
      Mixed-Use
      $375,000
      Hospitality
      $385,000
      Educational
      $355,000
      Residential Income
      $365,000
      Energy
      $315,000
      Income-Based Land
      $395,000
      Food Service
      $340,000

    Location Insight

    • Map
    • Local Demand
    City
    Wakefield
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.0638
    Latitude
    42.5042
    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
    $5,468
    $0.00
    $252,000
    $252,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      152,456 SF

      107 Audubon Rd

      INDUSTRIAL (GENERAL) • 152,456 SF
      107 Audubon Rd, Wakefield, MA 01880-1266
      View Details
    • Value Estimation by Request
      33,085 SF

      20 Del Carmine St

      INDUSTRIAL (GENERAL) • 33,085 SF
      20 Del Carmine St, Wakefield, MA 01880-3485
      View Details
    • Value Estimation
      $1,705,000
      8,740 SF

      486 Main St

      INDUSTRIAL (GENERAL) • 8,740 SF
      486 Main St, Wakefield, MA 01880-3320
      View Details
    • Value Estimation by Request
      15,844 SF

      66 New Salem St

      INDUSTRIAL (GENERAL) • 15,844 SF
      66 New Salem St, Wakefield, MA 01880-1979
      View Details
    • Value Estimation
      $350,000
      3,130 SF

      87 New Salem St Ste, Unit 3

      CONDOMINIUMS (INDUSTRIAL) • 3,130 SF
      87 New Salem St Ste, Wakefield, MA 01880-6322
      View Details
    • Value Estimation by Request
      52,022 SF

      40 New Salem St

      INDUSTRIAL (GENERAL) • 52,022 SF
      40 New Salem St, Wakefield, MA 01880-1979
      View Details

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    Similar Nearby for Lease

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    • $18 SF/Yr
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      Wakefield Industrial Unit For Rent

      Industrial unit with loading dock, newly renovated in 2025.
      1 Melvin St, Wakefield, MA 01880
      View Details
    • $3,000 /Mo

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      Warehouse/light industrial space for rent, utilities included.
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      View Details
    • $272 SF/Yr
      2,000 SF

      Downtown Wakefield Office Space

      Prime Retail/Office, Single Tenant, 950 sq ft.
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    • Contact for pricing
      3,667 SF

      Prime Wakefield Retail Space

      Restaurant/Commercial Space Available
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      View Details
    • $3,000 /Mo

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      Renovated retail space in Albion Street business district.
      55 Albion St, Wakefield, MA 01880
      View Details
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    Wakefield, MA 01880-2577
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    Realmo Value Estimation

    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.

    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.

    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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