138 Main StMelrose, MA 02176

Property Details for 138 Main St

Year built

1950

Construction

FRAME

Lot size

0.23 AC

Property size (Sq ft)

1,762 SF

Zone code

URB

Property type

Office properties

Property subtype

Office buildings

APN

MELR M:0C3 P:00008-9

APU

MELRM0C3P000089

Description

This exceptional commercial property, located at 138 Main Street in Melrose, Massachusetts, presents a unique investment opportunity. The building, constructed in 1950 and renovated around 2010, offers approximately 3,100 square feet of space, including approximately 1,760 square feet above grade and roughly 700 square feet of finished basement office space. An additional 700 square feet of unfinished basement area provides potential for expansion or customization. The property sits on a flat, corner lot of over 10,000 square feet, providing excellent visibility and signage opportunities on Main Street. Nine on-site parking spaces are available, supplemented by ample street parking. The building features a convenient handicap ramp, three half-baths, and a kitchenette/break room. Its prime location offers easy access to public transportation, with bus stops directly in front and proximity to both subway and commuter rail stations. The asking price is $1,100,000. This Class B office building is ideal for a variety of commercial uses. The property is being sold "as is".

• CAP approach

  CAP return

  Valuation

  6%

  $291,311

  6.5%

  $268,903

  7%

  $249,695

• Comparable approach

  Method

  Valuation

  Relative Method

  $230,223

  Geo Method

  $230,223

• Alternative Use

  Use

  Valuation

  Residential

  $333,439

  Hospitality

  $305,429

  Educational

  $254,113

  Medical

  $262,852

  Retail

  $395,287

Location Insight

City

Melrose

County

Middlesex

State

Massachusetts

Latitude

42.4454

Longitude

-71.0684

CBSA code

14460

CBSA name

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

Property Tax & Assessments

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