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Property profile & analytics
FOR SALE
Banks

399 Main St Malden, MA 02148

17,281 SF 0.18 ac lot Built 1900
Entity Owned 3-yr Hold ~ Est. High Equity
Property ID
US38-1117685
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Banks
Use group FINANCIAL BUILDING
Year built 1900
Construction FRAME
Total area 17,281 SF
Lot 0.18 ac (7,863 SF)
Zoning code CB
APN MALD M:075 B:272 L:203
UPID US38-1117685
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
  • Citizens Bank ATM Atm
  • Medford Bank Bank Loan Service
  • Citizens Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$1.41M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.49M
Owner & transaction history
399 Main St Malden LLC · 3 yrs held
399 Main St Malden LLC
since 2023
Last sale
$1.6M
2 recorded transactions
2023
$1.6M
1993
$332,500
Zoning & alternative use
CB · Malden, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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