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Property profile & analytics
OFF-MARKET
Estimated value
$585,000
Turn key restaurants
503 Main St 509, Melrose, MA 02176-3834
Individually Owned
7-yr Hold
~
Est. High Equity
Property ID
US38-0889284
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1884
Construction
FRAME
Total area
8,356 SF
Lot
0.11 ac (4,739 SF)
Zoning code
BA1
APN
MELR M:0C7 P:0000103
UPID
US38-0889284
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
$365k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$805k
Blend (final)
Blend
$585k
Owner & transaction history
Turners Real Est Melro · 7 yrs held
Turners Real Est Melro
since 2018
6 recorded transactions
Zoning & alternative use
BA1 · 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
Method
Estimation
Statistic approach
by Request
ML approach
$365,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$585k
Range $527k – $644k · ±10%
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
$70 / 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
$36,793
Tax year 2024
Assessed value
$2,077,500
Assessed 2024
Previous assessed
$2,077,500
+0.0% YoY
Effective rate
1.77%
On assessed value
Assessed land
$467,000
Assessed improvement
$1,610,500
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1884
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
2
Units
2
Rooms
11
Bathrooms
6
Total area
8,356 SF
Lot
0.11 ac (4,739 SF)
Zoning code
BA1
APN
MELR M:0C7 P:0000103
UPID
US38-0889284
Jurisdiction
MELROSE
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
BA1 · Melrose, MA
Zoning BA1 · permitted uses
BA1 · 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
1884
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
1
Units
2
Rooms
11
Bathrooms
6
Lot
0.11 ac
Current owner
From public records · entity-resolved
Turners Real Est Melro
Individual
Mailing address
25 GRAPEVINE RD, GLOUCESTER, MA 01930-4240
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 30, 2018
$3,450,000
Turners Real Est Melro
503-509 Main St Melros
Quit Claim Arm's Length For Ne States
$2,440,000 · Northern Bk & Tr
May 31, 2013
—
503-509 Main Street LLC
—
Deed Of Trust
related
$1,419,881 · Salem Five Cents Savings Bank
Jun 9, 2008
—
503-509 Main St Melr LLC
—
Deed Of Trust
related
$1,015,000 · Winchester Savings Bank
Apr 27, 2006
$900,000
503-509 Main St Melro LLC
Koufos,george J
Grant Deed
$690,000 · Winchester Savings Bank
Apr 27, 2006
$1
George J Koufos
Koufos RT
Grant Deed
—
Jul 6, 1988
—
Koufos RT
—
Deed Of Trust
related
$300,000 · Zuckerman Family Nomi
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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