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    880 Main St, Unit 894 Melrose, MA 02176-2346

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    880 Main St, Unit 894 Melrose, MA 02176-2346

    View on Map
    • Super regional malls
    • 49,217 SF
    • 4.38 lot acres
    Off-Market
    Property ID
    US38-1188914
    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.
    Value Estimations
    $8,850,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Whole Foods Market / Grocery & Convenience Store / Food Market
    • Amazon Hub Locker - Mainstreet / Postal Service / Courier Service
    • Sandwich / Take-out & Catering
    • AmpUp Charging Station / Electric Vehicle Charging Station

    Property Details for 880 Main St

    Year built
    1965
    Construction
    STEEL FRAME
    Lot size
    4.38 lot acres
    Property size
    49,217 SF
    Zone code
    BA1
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    MELR M:D11 P:0000017
    APU
    MELRMD11P0000017

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $13,635,000
      Current use
      RESTAURANT
      $14,290,000
      Change: +5% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $13,855,000
      Change: +2% Conversion: Difficult
      RETAIL STORES
      $13,270,000
      Change: -3% Conversion: Easy
      COMMERCIAL (GENERAL)
      $12,720,000
      Change: -7% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $11,340,000
      Change: -17% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Melrose
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.0626
    Latitude
    42.4648
    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
    $193,103
    $5,442,900
    $5,460,700
    $10,903,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $3,020,000
      14,550 SF

      897 Main St

      REGIONAL SHOPPING CENTER, MALL • 14,550 SF
      897 Main St, Melrose, MA 02176-2322
      View Details
    • Value Estimation by Request
      0.13 Acres

      Newburyport Tpke

      PARKING LOT • 0.13 Acres
      Newburyport Tpke, Melrose, MA 02176
      View Details
    • Value Estimation
      $2,270,000
      14,875 SF

      100 Main St

      RETAIL STORES (PERSONAL SERVICES) • 14,875 SF
      100 Main St, Melrose, MA 02176-6104
      View Details
    • Value Estimation
      $660,000
      3,471 SF

      951-955 Main St

      RETAIL STORES (PERSONAL SERVICES) • 3,471 SF
      951-955 Main St, Melrose, MA 02176
      View Details
    • Value Estimation by Request
      3,952 SF

      194 Tremont St

      AUTO REPAIR, GARAGE • 3,952 SF
      194 Tremont St, Melrose, MA 02176-2204
      View Details
    • Value Estimation by Request
      1,019 SF

      44 Wyoming Ave

      RESTAURANT • 1,019 SF
      44 Wyoming Ave, Melrose, MA 02176-3745
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,448 SF

      Melrose Mixed-Use Investment Opportunity

      4,448 SF building in Melrose Market with BA-2 zoning.
      437-445 Franklin St, Melrose, MA 02176
      View Details
    • $1,450,000
      4,497 SF

      Victorian Mixed-Use Building in Melrose

      Mixed-use property with residential and commercial units in downtown Melrose.
      3-5 E Foster St, Melrose, MA 02176
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      1,762 SF

      Melrose Commercial Building on Main

      Free-standing commercial building with parking in Melrose, Massachusetts.
      138 Main St, Melrose, MA 02176
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      Melrose Retail Investment Opportunity

      Prime Melrose location near MBTA, ideal for retail investment.
      437 Franklin St, Melrose, MA 02176
      View Details
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      4,448 SF

      Melrose Investment Opportunity

      4,448 SF building in Melrose Market with BA-2 zoning.
      437-445 Franklin St, Melrose, MA 02176
      View Details
    • Contact for pricing

      Melrose Mixed-Use Investment Opportunity

      4,448 SF building in Melrose Market with BA-2 zoning.
      437-445 Franklin St, Melrose, MA 02176
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,800 SF

      Retail Space in Melrose Market

      Prime retail space in thriving Melrose Market, steps to MBTA.
      445 Franklin St, Melrose, MA 02176
      View Details
    • Contact for pricing

      New Mixed-Use Construction in Melrose

      New mixed-use building with retail and commercial space for lease.
      681-697 Main St, Melrose, MA 02176
      View Details
    • Contact for pricing
      2,108 SF

      Retail Space Available For Rent

      Retail space available for lease, 2108 square feet.
      2 Washington St, Melrose, MA 02176
      View Details
    • Contact for pricing

      Mixed-Use Building in Melrose

      New construction mixed-use building with retail and commercial space.
      681-697 Main St, Melrose, MA 02176
      View Details
    • Contact for pricing
      1,600 SF

      New Commercial Unit in Melrose

      New construction retail space in downtown Melrose, available soon.
      12-16 Essex St, Melrose, MA 02176
      View Details
    • Contact for pricing

      New Commercial Unit in Melrose

      New construction commercial unit in downtown Melrose, available soon.
      12-16 Essex St, Melrose, MA 02176
      View Details

    Property Visit Statistics

    • Visits by month
      71.9k
    • Visitors by month
      36.2k
    • Avg Time on site
      17 min
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    880 Main St, Unit 894
    Melrose, MA 02176-2346
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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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