393 Main StMedford, MA 02155

Property Details for 393 Main St

Year built

1950

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.18 AC

Property size (Sq ft)

6,903 SF

Property type

Retail space

APN

MEDF M:V-09 B:0040

APU

MEDFMV09B0040

Description

This exceptional commercial property, situated at 393 Main Street in Medford, Massachusetts, presents a unique investment opportunity. Located near the intersection of Main and Harvard Streets, this high-traffic area ensures excellent visibility and accessibility. The property boasts a substantial single-story building currently configured as two storefronts, offering immediate income potential. The building comprises a spacious 6,903 square foot first floor and a 4,797 square foot basement, providing ample space for a variety of uses. The sizable 7,676 square foot lot (0.18 acres) offers significant potential for redevelopment or new construction. Its prime location offers easy access to public transportation, with close proximity to the MBTA Green Line and a half-mile from Route 93, ensuring convenient commutes for employees and customers. The property is zoned Commercial (C-1), opening doors to a wide range of development possibilities. This versatile property is ideal for savvy investors seeking a strong foothold in a thriving Medford location, offering both immediate income and long-term growth potential. The combination of existing commercial space and significant redevelopment potential makes this a truly unique opportunity. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $1,677,670

  6.5%

  $1,548,618

  7%

  $1,438,003

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,272,904

  Geo Method

  $2,272,904

• Alternative Use

  Use

  Valuation

  Residential

  $1,306,318

  Hospitality

  $1,196,580

  Educational

  $995,540

  Medical

  $1,029,779

  Retail

  $1,548,618

Location Insight

City

Medford

County

Middlesex

State

Massachusetts

Latitude

42.4045

Longitude

-71.108

CBSA code

14460

CBSA name

BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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