Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,320,000
Retail space
689 Main St 697 Melrose, MA 02176-2707
Entity Owned
1-yr Hold
Free & Clear
Property ID
US38-0482420
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1924
Construction
FRAME
Total area
2,795 SF
Lot
0.11 ac (4,922 SF)
Zoning code
BD
APN
MELR M:0D9 P:0000014
UPID
US38-0482420
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
-
Psychic reader of Melrose Spiritual Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$974k
Blend (final)
Blend
$1.32M
Owner & transaction history
59-61 Crystal Street LLC · 1 yrs held
59-61 Crystal Street LLC
since 2024
Last sale
$1.3M
6 recorded transactions
Zoning & alternative use
BD · 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.32M
Range $1.19M – $1.45M · ±10% · vs last sale $1.30M (Aug 14 2024)
Last sale anchor
$1.30M
Aug 14 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
$472 / 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
$13,704
Tax year 2024
Assessed value
$773,800
Assessed 2024
Previous assessed
$773,800
+0.0% YoY
Effective rate
1.77%
On assessed value
Assessed land
$470,600
Assessed improvement
$303,200
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1924
Construction
FRAME
Heating
FORCED AIR
Buildings
1
Stories
1
Units
4
Rooms
3
Bathrooms
6
Total area
2,795 SF
Lot
0.11 ac (4,922 SF)
Zoning code
BD
APN
MELR M:0D9 P:0000014
UPID
US38-0482420
Jurisdiction
MELROSE
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
BD · Melrose, MA
Zoning BD · permitted uses
BD · 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
1924
Construction
FRAME
Heating
FORCED AIR
Stories
1
Buildings
1
Units
4
Rooms
3
Bathrooms
6
Lot
0.11 ac
Current owner
From public records · entity-resolved
59-61 Crystal Street LLC
Entity
Free & Clear · 1 yrs held
Mailing address
245 WINTER ST STE #110, WALTHAM, MA 02451-8709
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 14, 2024
$1,300,000
59-61 Crystal Street LLC
Main St Melrose Grh LLC
Deed
—
Mar 22, 2023
—
Main St Melrose Grh LLC
—
Deed
related
$500,000 · North Shore Bank
Dec 21, 2020
$1,800,000
Main St Melrose Grh LLC
Angida LLC
Quit Claim Arm's Length For Ne States
$900,000 · North Shore Bank
Jan 17, 2018
$860,000
Angida LLC
Angelo Caruso
Quit Claim Deed
related
$860,000 · Eastern Bank
Jul 14, 2014
$58,000
Luigi Fusco
Caruso,anna
Quit Claim Deed
related
—
Jul 29, 2013
—
Luigi Fusco
Caruso Michael Est
Quit Claim Deed
related
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 689 Main St, Unit 697?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
