Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$545,000
Investment properties
984 Main St Melrose, MA 02176-1912
Individually Owned
13-yr Hold
Free & Clear
Property ID
US38-1482447
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1900
Construction
FRAME
Total area
2,183 SF
Lot
0.11 ac (4,905 SF)
Zoning code
URC
APN
MELR M:D12 P:0000052
UPID
US38-1482447
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
-
Robert Carriere Co. Accounting Firm Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$555k
Comparable Approach
Comparable
$492k
Blend (final)
Blend
$545k
Owner & transaction history
Robert Carriere Ft · 13 yrs held
Robert Carriere Ft
since 2012
6 recorded transactions
Zoning & alternative use
URC · Melrose, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$615,000
+8.9%
Neighborhood: shopping center
$605,000
+7.2%
Retail stores
$590,000
+4.3%
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%
$600,000
6.5%
$555,000
7%
$515,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$565,000
Current use
AUTO REPAIR, GARAGE
$615,000
Change: +9% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$605,000
Change: +7% · Conversion: Difficult
RETAIL STORES
$590,000
Change: +4% · Conversion: Easy
OFFICE BUILDING
$480,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$545k
Range $491k – $600k · ±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
$250 / 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
Assessed value
$771,600
Assessed 2024
Previous assessed
$771,600
+0.0% YoY
Assessed land
$391,100
Assessed improvement
$380,500
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1900
Construction
FRAME
Heating
HOT WATER
Buildings
1
Stories
3
Units
2
Rooms
11
Bathrooms
2
Total area
2,183 SF
Lot
0.11 ac (4,905 SF)
Zoning code
URC
APN
MELR M:D12 P:0000052
UPID
US38-1482447
Jurisdiction
MELROSE
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
URC · Melrose, MA
Zoning URC · permitted uses
URC · 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
COMMERCIAL (GENERAL) Current
Est. value
$565,000
AUTO REPAIR, GARAGE
Est. value
$615,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$605,000
RETAIL STORES
Est. value
$590,000
OFFICE BUILDING
Est. value
$480,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1900
Construction
FRAME
Heating
HOT WATER
Stories
3
Buildings
1
Units
2
Rooms
11
Bathrooms
2
Lot
0.11 ac
Current owner
From public records · entity-resolved
Robert Carriere Ft
Individual
Free & Clear · 13 yrs held
Mailing address
984 MAIN ST, MELROSE, MA 02176-1912
Ownership since
2012
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
Dec 18, 2012
$1
Robert Carriere Ft
Carriere,robert
Grant Deed
related
—
Aug 10, 2004
—
Grace Carriere
—
Deed Of Trust
related
$114,000 · Gary Needham
Jun 26, 2001
—
Robert Carriere
—
Deed Of Trust
related
$129,400 · Massbank Of Savings
Jun 28, 1996
$170,000
Robert Carriere
Evelon T
Grant Deed
$136,000 · Massbank Of Savings
Dec 2, 1991
—
John A Lann
—
Deed Of Trust
related
$72,000 · Pioneer Financial Mortgage
May 13, 1987
—
John A Lann
—
Deed Of Trust
related
$70,000 · Reading Cp 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.
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 984 Main St?
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.
