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Property profile & analytics
OFF-MARKET
Retail space
389-393 Franklin St Melrose, MA 02176
Entity Owned
22-yr Hold
~
Est. High Equity
Property ID
US38-1086171
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1922
Construction
FRAME
Total area
2,080 SF
Lot
0.09 ac (3,916 SF)
Zoning code
BA2
APN
MELR M:C12 P:0000043
UPID
US38-1086171
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Master Pie INC · 22 yrs held
Master Pie INC
since 2003
4 recorded transactions
Zoning & alternative use
BA2 · Melrose, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$11,117
Tax year 2024
Assessed value
$627,700
Assessed 2024
Previous assessed
$627,700
+0.0% YoY
Effective rate
1.77%
On assessed value
Assessed land
$347,800
Assessed improvement
$279,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1922
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
2
Rooms
3
Bathrooms
5
Total area
2,080 SF
Lot
0.09 ac (3,916 SF)
Zoning code
BA2
APN
MELR M:C12 P:0000043
UPID
US38-1086171
Jurisdiction
MELROSE
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
BA2 · Melrose, MA
Zoning BA2 · permitted uses
BA2 · 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.
Building & site characteristics
From public records
Year built
1922
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
2
Rooms
3
Bathrooms
5
Lot
0.09 ac
Current owner
From public records · entity-resolved
Master Pie INC
Entity
Mailing address
100 CONIFER HL DR STE #402, DANVERS, MA 01923-1171
Ownership since
2003
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
Aug 18, 2022
—
Melrosedom RT
—
Deed
related
$450,000 · Newburyport Five Cents Savings Bank
Dec 22, 2008
—
Melrosedom RT
—
Deed Of Trust
related
$266,032 · John E Kenney Tr
Sep 17, 2003
$375,000
Master Pie INC
Kenari RT
Grant Deed
$350,000 · Zwi Kohorn
Jun 26, 1987
—
Kenari RT
—
Deed Of Trust
related
$180,000 · Baybank Middlesex
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.
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