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    Property profile & analytics

    506 Franklin St, Unit 512 Melrose, MA 02176-1741

    • Investment properties
    • 3,163 SF
    • 0.06 lot acres
    OFF-MARKET
    Value Estimation
    Last Sale
    Mar 11, 2021
    Location Intelligence
    Property ID
    US38-0718384
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • La Qchara / Latin American Restaurant / Breakfast Restaurant

    Property Details for 506 Franklin St

    Year built
    1900
    Construction
    FRAME
    Lot size
    0.06 lot acres
    Property size
    3,163 SF
    Zone code
    BA2
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    MELR M:B12 P:0000121
    APU
    MELRMB12P0000121

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Melrose
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.0689
    Latitude
    42.4686
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $0.00
    $301,300
    $590,300
    $891,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.23 Acres

      43-47 Frst St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.23 Acres
      43-47 Frst St, Melrose, MA 02176
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    • Value Estimation by Request
      2,606 SF

      6 Emerson St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,606 SF
      6 Emerson St, Melrose, MA 02176-3234
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    • Value Estimation by Request
      5,790 SF

      471-473 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,790 SF
      471-473 Main St, Melrose, MA 02176
      View Details
    • Value Estimation by Request
      2,499 SF

      792 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,499 SF
      792 Main St, Melrose, MA 02176-2710
      View Details
    • Value Estimation by Request
      1,552 SF

      102 Tremont St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,552 SF
      102 Tremont St, Melrose, MA 02176-2704
      View Details
    • Value Estimation by Request
      4,292 SF

      79 Foster St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,292 SF
      79 Foster St, Melrose, MA 02176-3812
      View Details

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    Similar Nearby for Lease

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    • $60 SF/Yr

      Melrose Retail Space For Lease

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    506 Franklin St, Unit 512
    Melrose, MA 02176-1741
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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