401 Upham StMelrose, MA 02176

Property Details for 401 Upham St

Year built

1924

Construction

STEEL FRAME

Lot size

0.18 AC

Property size (Sq ft)

1,006 SF

Zone code

SRB

Property type

Gas stations

APN

MELR M:0G9 P:0000045

APU

MELRM0G9P0000045

Description

This exceptional investment opportunity presents a well-established gas and service station located at 401 Upham St, Melrose, MA 02176. Operating profitably since 1929, this turnkey business boasts three gas pumps, two fully equipped service bays currently leased to a long-term tenant, and ample storage/parking. The property features a main office with a private bath, plus a public restroom. The building, constructed in 1924, sits on a 7,802 sq ft lot and is zoned SRB. Triple-walled steel fuel tanks (installed 1987, 5000 gal regular, 4000 gal regular, 6000 gal super) are equipped with sensors for safety and monitoring. The sale includes the assumption of the existing Gulf contract, subject to their approval. High profit margins per gallon, excellent street visibility, and a loyal customer base contribute to this business's consistent success. A clean environmental assessment is expected in November 2024. This is a rare chance to acquire a thriving, long-standing business with significant growth potential in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $244,493

  6.5%

  $225,686

  7%

  $209,566

• Comparable approach

  Method

  Valuation

  Relative Method

  $331,239

  Geo Method

  $331,239

• Alternative Use

  Use

  Valuation

  Residential

  $190,375

  Hospitality

  $174,382

  Educational

  $145,084

  Medical

  $150,073

  Retail

  $225,686

Location Insight

City

Melrose

County

Middlesex

State

Massachusetts

Latitude

42.4592

Longitude

-71.046

CBSA code

14460

CBSA name

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

Property Tax & Assessments

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