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Property profile & analytics
OFF-MARKET
Estimated value
$790,000
Investment properties
506 Franklin St 512, Melrose, MA 02176-1741
Individually Owned
5-yr Hold
Property ID
US38-0718384
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1900
Construction
FRAME
Total area
3,163 SF
Lot
0.06 ac (2,609 SF)
Zoning code
BA2
APN
MELR M:B12 P:0000121
UPID
US38-0718384
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
-
La Qchara Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$805k
Comparable Approach
Comparable
$997k
Blend (final)
Blend
$790k
Owner & transaction history
506 Franklin Street RT · 5 yrs held
506 Franklin Street RT
since 2021
7 recorded transactions
Zoning & alternative use
BA2 · Melrose, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$890,000
+8.9%
Neighborhood: shopping center
$875,000
+7.2%
Retail stores
$855,000
+4.3%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$870,000
6.5%
$805,000
7%
$745,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$815,000
Current use
AUTO REPAIR, GARAGE
$890,000
Change: +9% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$875,000
Change: +7% · Conversion: Difficult
RETAIL STORES
$855,000
Change: +4% · Conversion: Easy
OFFICE BUILDING
$690,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$790k
Range $711k – $869k · ±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
$250 / 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
Assessed value
$891,600
Assessed 2024
Previous assessed
$891,600
+0.0% YoY
Assessed land
$301,300
Assessed improvement
$590,300
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1900
Construction
FRAME
Heating
STEAM
Cooling
YES
Buildings
1
Stories
2
Units
2
Rooms
6
Bathrooms
5
Total area
3,163 SF
Lot
0.06 ac (2,609 SF)
Zoning code
BA2
APN
MELR M:B12 P:0000121
UPID
US38-0718384
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.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$815,000
AUTO REPAIR, GARAGE
Est. value
$890,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$875,000
RETAIL STORES
Est. value
$855,000
OFFICE BUILDING
Est. value
$690,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1900
Construction
FRAME
Heating
STEAM
Cooling
Yes
Stories
2
Buildings
1
Units
2
Rooms
6
Bathrooms
5
Lot
0.06 ac
Current owner
From public records · entity-resolved
506 Franklin Street RT
Individual
Mailing address
632 LYNN FELLS PKWY, MELROSE, MA 02176-2426
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 1, 2021
—
506-512 Franklin St LLC
—
Deed
related
$372,000 · Bay Colony Development Corp
Mar 11, 2021
—
506 Franklin Street RT
Melrose City Of
Redemption Deed
related
—
Feb 8, 2021
$910,000
506-512 Franklin St LLC
506 Franklin Street RT
Quit Claim Arm's Length For Ne States
$827,750 · Jeffrey Cassim
Feb 13, 2020
—
506 Franklin Street RT
—
Deed
related
$495,000 · Century Bank & Trust
Jul 20, 2006
$1
506 Franklin Street RT
Chapdelaine,diana P
Grant Deed
—
Jul 20, 2006
—
506 Franklin Street RT
—
Deed Of Trust
related
$472,000 · Saugus Cp Bank
Sep 21, 2004
—
Diana P Chapdelaine
—
Deed Of Trust
related
$50,000 · Saugus Cp Bank
Dec 10, 2002
$440,000
William F Chapdelaine
Herlihy,paul
Grant Deed
$300,000 · Saugus Cp Bank
Jun 29, 2000
$285,000
Paul Herlihy
Antonelli,lisa M
Grant Deed
$260,000 · Zenon Grzybowski
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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