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    138 Main St Melrose, MA 02176
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    138 Main St, Melrose, MA 02176

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    • Office buildings
    • 1,762 SF
    • 0.23 lot acres
    For Sale
    $1,200,000
    View Listing →
    Melrose Commercial Building on Main For Sale
    $1,200,000
    1,762 SF

    Melrose Commercial Building on Main

    Free-standing commercial building with parking in Melrose, Massachusetts.

    138 Main St, Melrose, MA 2176
    View Listing
    Property ID
    US38-1849674
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 138 Main St

    Year built
    1950
    Construction
    FRAME
    Lot size
    0.23 lot acres
    Zone code
    URB
    Property type
    Office buildings
    APN
    MELR M:0C3 P:00008-9
    APU
    MELRM0C3P000089

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 16, 2025 — R&n Properties LLC Trin Ext Properties LLC Quitclaim Deed · related —
    Jun 25, 2024 — Trin Ext Properties LLC Melrose City Of Redemption Deed · related —
    Jul 29, 2022 $600,000 Trin Ext Properties LLC Metro Cu Quit Claim Arm's Length For Ne States $500k · Arb Investments LLC
    Mar 22, 1991 $235,000 Gas Ecu Scribner,robert L Grant Deed —

    Description

    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".

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $555,000
      ML approach
      $560,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $619,000
      Market price range: $215k - $619k
      AI Estimate
      $513,000
      Market price range: $135k - $514k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $385,000
      Current use
      AUTO REPAIR, GARAGE
      $495,000
      Change: +29% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $490,000
      Change: +27% Conversion: Difficult
      RETAIL STORES
      $475,000
      Change: +23% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $455,000
      Change: +18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Melrose
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.0684
    Latitude
    42.4454
    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
    $11,455
    $441,800
    $205,000
    $646,800
    -
    $0.00
    $0.00
    $0.00

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      174 Grn St

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    • Value Estimation
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      723 Main St

      OFFICE BUILDING
      723 Main St, Melrose, MA 02176-2707
      View Details
    • Value Estimation
      $590,000
      1,764 SF

      727 Main St

      OFFICE BUILDING
      727 Main St, Melrose, MA 02176-2707
      View Details
    • Value Estimation
      $590,000
      2,026 SF

      70 Foster St

      OFFICE BUILDING
      70 Foster St, Melrose, MA 02176-3811
      View Details

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      Free Standing Commercial Building

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      Melrose Commercial Building on Main

      Free-standing commercial building with parking in Melrose, Massachusetts.
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      1,762 SF

      Melrose Commercial Building on Main

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      Melrose Commercial Building with Parking

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      Melrose Office Space Available

      2,108 square feet of office space for lease.
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      2,108 SF

      Melrose Office Space Available

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    Melrose, MA 02176
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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.

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