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".
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
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
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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