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Property profile & analytics
OFF-MARKET
Estimated value
$3,100,000
Turn key restaurants
521 Franklin St 529 Melrose, MA 02176-1742
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US38-0470095
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1896
Construction
FRAME
Total area
6,973 SF
Lot
0.31 ac (13,599 SF)
Zoning code
BA2
APN
MELR M:B12 P:0000058
UPID
US38-0470095
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
$3.10M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.10M
Owner & transaction history
521-529 Franklin LLC · 1 yrs held
521-529 Franklin LLC
since 2024
Last sale
$3.1M
5 recorded transactions
Zoning & alternative use
BA2 · 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
$3,100,000
ML approach
$3,100,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$2,025,000
Current use
AUTO REPAIR, GARAGE
$1,965,000
Change: -3% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,930,000
Change: -5% · Conversion: Difficult
RETAIL STORES
$1,880,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$3.10M
Range $2.79M – $3.41M · ±10% · vs last sale $3.10M (Aug 21 2024)
Last sale anchor
$3.10M
Aug 21 2024
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
$445 / 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
$24,645
Tax year 2024
Assessed value
$1,391,600
Assessed 2024
Previous assessed
$1,391,600
+0.0% YoY
Effective rate
1.77%
On assessed value
Assessed land
$496,900
Assessed improvement
$894,700
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
1896
Construction
FRAME
Heating
FORCED AIR
Buildings
1
Stories
2
Units
2
Rooms
6
Bathrooms
5
Total area
6,973 SF
Lot
0.31 ac (13,599 SF)
Zoning code
BA2
APN
MELR M:B12 P:0000058
UPID
US38-0470095
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
RESTAURANT Current
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$2.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.9M
RETAIL STORES
Est. value
$1.9M
RESTAURANT Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1896
Construction
FRAME
Heating
FORCED AIR
Stories
2
Buildings
1
Units
2
Rooms
6
Bathrooms
5
Lot
0.31 ac
Current owner
From public records · entity-resolved
521-529 Franklin LLC
Entity
Mailing address
521 FRANKLIN ST #529, MELROSE, MA 02176-1742
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 21, 2024
$3,100,000
521-529 Franklin LLC
521 Franklin St LLC
Quit Claim Arm's Length For Ne States
$10,297,885 · Lowell Five Cents Savings Bank
Dec 28, 2022
$1,600,000
521 Franklin St LLC
Cambridge West 1 LLC
Quit Claim Arm's Length For Ne States
$1,650,000 · First Boston Construction Holdings
Apr 14, 2015
$1,170,000
Cambridge West 1 LLC
Corinthian Outreach Ll
Quit Claim Arm's Length For Ne States
$720,000 · East Boston Savings Bank
Sep 6, 2013
$900,000
Corinthian Outreach LLC
Longmuir,stephen A
Quit Claim Deed
$630,000 · East Boston Savings Bank
Dec 4, 2008
$735,000
Stephen A Longmuir
Ragucci Ft
Deed
$375,000 · Northern Bk & Tr Co
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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