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Property profile & analytics
OFF-MARKET Estimated value $585,000
Office buildings

138 Main St Melrose, MA 02176-5226

1,762 SF 0.23 ac lot Built 1950
Entity Owned 1-yr Hold Free & Clear
Property ID
US38-1849674
Property summary
AI-generated overview

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".

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1950
Construction FRAME
Total area 1,762 SF
Lot 0.23 ac (10,023 SF)
Zoning code URB
APN MELR M:0C3 P:00008-9
UPID US38-1849674
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$560k
CAP Approach CAP
by Request
Comparable Approach Comparable
$619k
Blend (final) Blend
$585k
Owner & transaction history
R&n Properties LLC · 1 yrs held
R&n Properties LLC
since 2025
Last sale
$600,000
4 recorded transactions
2025
Price N/A
2024
Price N/A
2022
$600,000
1991
$235,000
Zoning & alternative use
URB · Melrose, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage $495,000 +28.6%
Neighborhood: shopping center $490,000 +26.6%
Retail stores $475,000 +23.2%
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