399 Main St Malden, MA 02148
- Banks
- 17,281 SF
- 0.18 lot acres
Current Use by Public Records
- Citizens Bank ATM / Atm
- Medford Bank / Atm / Bank
- Citizens / Atm
Property Details for 399 Main St
- Year built
- 1900
- Construction
- FRAME
- Lot size
- 0.18 lot acres
- Property size
- 17,281 SF
- Zone code
- CB
- Property type
- Banks
- APN
- MALD M:075 B:272 L:203
- APU
- MALDM075B272L203
Description
This iconic 24,000 square foot free-standing building, located at 399 Main Street in Malden, Massachusetts (02148), presents a unique opportunity. Formerly a bank, this four-story structure, built in 1922, boasts 13-foot ceilings and has been fully demolished and abated, offering a blank canvas for a variety of uses. The building is zoned for Central Business and features multiple suites, with a minimum divisible space of 6,000 square feet and a maximum contiguous space of 24,000 square feet. Conveniently located at the intersection of Main and Pleasant Streets, the property benefits from high visibility and proximity to a 45-car municipal parking lot and a 600-car parking garage. An elevator services all four floors, and some outdoor space is available. The building's location is advantageous, adjacent to Malden High School and within the nation's only Gaming District. The property is available for sale, with the potential for subdivision into two 12,000 square foot commercial condominiums. The entire 24,000 square feet is currently vacant. This versatile space is suitable for traditional, creative, or medical office uses, as well as retail or restaurant purposes.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,405,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,620,000
- 6.5%
- $1,435,000
- 7%
- $1,650,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,465,000
- Geo Method
- $1,470,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,320,000
- Retail
- $1,590,000
- Mixed-Use
- $1,440,000
- Hospitality
- $1,485,000
- Educational
- $1,270,000
- Residential Income
- $1,260,000
- Energy
- $1,365,000
- Income-Based Land
- $1,520,000
- Food Service
- $1,240,000
Location Insight
- Map
- Local Demand
- City
- Malden
- County
- Middlesex
- State
- Massachusetts
- Longitude
- -71.0669
- Latitude
- 42.4263
- CBSA code
- 14460
- CBSA name
- BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA
