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Property profile & analytics
OFF-MARKET
Estimated value
$825,000
Retail space
688 Salem St 698 Malden, MA 02148-4363
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US38-0942898
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1930
Construction
STEEL FRAME
Total area
5,529 SF
Lot
0.14 ac (5,924 SF)
Zoning code
NB
APN
MALD M:134 B:661 L:101
UPID
US38-0942898
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
-
Fortune Corner Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$825k
Owner & transaction history
Jewel RT · 4 yrs held
Jewel RT
since 2021
7 recorded transactions
Zoning & alternative use
NB · Malden, 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 Malden submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Malden 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,275,000
Change: -15% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,210,000
Change: -19% · Conversion: Easy
OFFICE BUILDING
$1,210,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$825k
Range $743k – $908k · ±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
$149 / 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
$27,671
Tax year 2024
Assessed value
$1,520,400
Assessed 2024
Previous assessed
$1,520,400
+0.0% YoY
Effective rate
1.82%
On assessed value
Assessed land
$668,700
Assessed improvement
$851,700
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1930
Construction
STEEL FRAME
Heating
FORCED AIR
Buildings
1
Stories
1
Units
4
Bathrooms
6
Total area
5,529 SF
Lot
0.14 ac (5,924 SF)
Zoning code
NB
APN
MALD M:134 B:661 L:101
UPID
US38-0942898
Jurisdiction
MALDEN
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
NB · Malden, MA
Zoning NB · permitted uses
NB · Malden, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Malden. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
1930
Construction
STEEL FRAME
Heating
FORCED AIR
Stories
1
Buildings
1
Units
4
Bathrooms
6
Lot
0.14 ac
Current owner
From public records · entity-resolved
Jewel RT
Individual
Mailing address
19 LEBANON ST, MALDEN, MA 02148-3114
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
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 17, 2023
—
Jewel RT
—
Deed
related
$2,400,000 · Bankgloucester (gloucester Coop Bank)
Dec 8, 2021
—
Jewel RT
Malden City Of
Redemption Deed
related
—
Jun 4, 2013
—
Jewel RT
—
Deed Of Trust
related
$450,000 · First Commons Bank
Oct 24, 2011
—
Jewel RT
—
Deed Of Trust
related
$500,000 · First Commons Bank
Dec 13, 2006
—
Jewel RT
—
Deed Of Trust
related
$1,077,562 · Salem Five Cents Savings Bank
Feb 3, 2004
$1,015,000
Jewel RT
Gaffey,helen W
Grant Deed
$761,250 · Saugus Cp Bank
Jun 7, 2002
—
Patrick H Gaffey
—
Deed Of Trust
related
$330,000 · Winter Hill Fsb
Apr 12, 2001
—
Patrick H Gaffey
—
Deed Of Trust
related
$75,000 · Redevelopment Authority Malden
Nov 5, 1999
—
Patrick H Gaffey
—
Deed Of Trust
related
$13,000 · Winter Hill Fsb
Feb 10, 1999
—
Patrick H Gaffey
—
Deed Of Trust
related
$315,000 · Winter Hill Fsb
Dec 22, 1994
—
Patrick H Gaffey
—
Deed Of Trust
related
$250,000 · Somerset Savings Bank
Jul 31, 1992
—
Patrick H Gaffey
—
Deed Of Trust
related
$220,000 · Somerset Savings Bank
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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