700 Newburyport Tpke Melrose, MA 02176
The Rail Corridor Overlay District (RCOD) is established as an overlay district that may be applied to land in the Extensive Business (BB-1) District as described herein, which is referred to herein as the "underlying district." When a parcel is placed within the RCOD, it also remains in the underlying district and must comply with the regulations of the und…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
BB · Melrose, MAThe Rail Corridor Overlay District (RCOD) is established as an overlay district that may be applied to land in the Extensive Business (BB-1) District as described herein, which is referred to herein as the "underlying district." When a parcel is placed within the RCOD, it also remains in the underlying district and must comply with the regulations of the underlying district except as specifically modified by this § 235-7.2 . (2) The Rail Corridor Overlay District includes the following parcels, identified by Assessors' Map and lot numbers as of March 1, 2014. This list of parcels is intended to include all properties shown on the Melrose Zoning Map in the Extensive Business (BB-1) Districts located on Tremont Street and Essex Street. Map Lots C7 55 and 56 C8 1, 2-3, 4, 5, 6, 7, 8, 9, 10+, 12, 14, 40, and 48 C11 1-1A, 2, 126 and 127 B9 105, 1067A8 (106, 107A, 108), and 109 B10 64, 65-66+, 67, 68, 69, 70, 71, 72, and 73-74 B11 70, 71, 72, 74, 75, and 76 D. Permitted uses. (1) An RCOD project may include, and shall be limited to, the following permitted uses, alone or in combination: (a) Multifamily residential, including townhouses and apartment buildings and including accessory uses thereto; (b) Retail establishments selling convenience goods such as food, drugs and proprietary goods, or general merchandise such as dry goods, apparel and accessories, hardware, home furnishings, and similar items, provided that no individual establishment shall exceed 10,000 square feet of gross floor area; (c) Personal and consumer services establishments, including beauty and barber shops, clothing rental, dry cleaning pickup shops, garment repair, tailors, and similar businesses providing frequent or recurrent services related to personal needs, and including accessory retail sales of products related to the services offered at such consumer services establishments; (d) Professional and business offices, including but not limited to medical, legal, insurance, architects, engineers, and real estate offices. This does not include banks and financial institutions or substance abuse treatment centers; (e) Veterinary hospitals, provided that no individual establishment shall exceed 10,000 square feet of gross floor area; (f) Restaurants, coffee shops, and similar establishments selling prepared food to be consumed on or off site;
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.