New search
Property profile & analytics
OFF-MARKET
Estimated value
$27,305,000
Residential income homes
158 Essex St, Melrose, MA 02176-3176
Entity Owned
4-yr Hold
Free & Clear
Property ID
US38-1146302
Property profile
Verified
Property type
Residential income homes
Use group
BOARDING/ROOMING HOUSE
Year built
2016
Construction
STEEL FRAME
Total area
91,200 SF
Lot
1.78 ac (77,550 SF)
Zoning code
BB1
APN
MELR M:0C8 P:00002-3
UPID
US38-1146302
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
Current use
Occupant on record · Public records
-
The Residence at Melrose Station Nursing Home Retirement Community
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$27.92M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$27.31M
Owner & transaction history
Pr Melrose Propco LLC · 4 yrs held
Pr Melrose Propco LLC
since 2022
Last sale
$28.5M
4 recorded transactions
Zoning & alternative use
BB1 · Melrose, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$26.5M
+26.0%
Auto repair, garage
$25.7M
+22.2%
Neighborhood: shopping center
$25.3M
+20.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Melrose submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Melrose submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$24,395,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$30,245,000
6.5%
$27,915,000
7%
$25,920,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$21,015,000
Current use
RESTAURANT
$26,475,000
Change: +26% · Conversion: Difficult
AUTO REPAIR, GARAGE
$25,670,000
Change: +22% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$25,270,000
Change: +20% · Conversion: Difficult
RETAIL STORES
$24,585,000
Change: +17% · Conversion: Difficult
COMMERCIAL (GENERAL)
$23,565,000
Change: +12% · Conversion: Moderate
OFFICE BUILDING
$19,960,000
Change: -5% · Conversion: Moderate
Blend value · Realmo final
$27.31M
Range $24.57M – $30.04M · ±10% · vs last sale $28.46M (Feb 8 2022)
Last sale anchor
$28.46M
Feb 8 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$299 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$62,863
Tax year 2024
Assessed value
$6,330,600
Assessed 2024
Previous assessed
$6,330,600
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$5,082,000
Assessed improvement
$1,248,600
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
BOARDING/ROOMING HOUSE
Status
Off-Market
Year built
2016
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
4
Units
90
Rooms
3
Bathrooms
72
Total area
91,200 SF
Lot
1.78 ac (77,550 SF)
Zoning code
BB1
APN
MELR M:0C8 P:00002-3
UPID
US38-1146302
Jurisdiction
MELROSE
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
BB1 · Melrose, MA
Zoning BB1 · permitted uses
BB1 · Melrose, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Melrose. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$21.0M
RESTAURANT
Est. value
$26.5M
AUTO REPAIR, GARAGE
Est. value
$25.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$25.3M
RETAIL STORES
Est. value
$24.6M
COMMERCIAL (GENERAL)
Est. value
$23.6M
OFFICE BUILDING
Est. value
$20.0M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2016
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
4
Buildings
1
Units
90
Rooms
3
Bathrooms
72
Lot
1.78 ac
Current owner
From public records · entity-resolved
Pr Melrose Propco LLC
Entity
Free & Clear · 4 yrs held
Mailing address
315 NORWOOD PARK S STE #205, NORWOOD, MA 02062-4681
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 8, 2022
$28,457,309
Pr Melrose Propco LLC
Lcb Melrose Station LLC
Quit Claim Arm's Length For Ne States
—
Apr 28, 2021
—
Paul Leonard
—
Deed
related
$393,000 · Nationstar Mortgage LLC
Nov 19, 2015
$3,600,000
Lcb Melrose Station LLC
Lg Realty LLC
Quit Claim Deed
related
$19,462,439 · M&t Bank NA
Nov 8, 2010
—
Lg Realty LLC
—
Deed Of Trust
related
$150,000 · Northern Bank & Trust
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 158 Essex St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
