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138 Main St, Melrose MA 02176

Melrose, MA 02176
$1,200,000
Est. $7,265/month
1,762
Sq Ft
$681
Price/Sq Ft
0.23
Acres
1950
Year Built
3 hours 26 minutes
Time on Market
Active Listed Jan 20, 2026 • MLS# 73469923 Copied!

About this home

Free Standing Commercial Building located on Main Street in Melrose with 10 car parking lot! Most recently used as an office, this property has a long his history as a bank. 3 private offices, break room, two half bathrooms and multiple bank teller service areas comprise the first floor. There are 2 finished rooms in the lower level as well as a half bath and a 3rd unfinished room on the upper level that can be improved for additional space. Located on Main Street, across from Pine Banks Park and a short walk to Jitters Cafe, Bobby Cs, Ocean Sushi and Hinge Fitness, this is a fantastic location for a local business owner who is interested in owning rather than renting.Property is a pre-existing, legal, non-conforming use as an office. Underlying zoning is residential, URB. Possible redevelopment opportunity with zoning relief. Buyer to conduct due diligence to confirm all info listed.

Property Overview

Listing Type
Commercial Sale
Year Built
1950
Living Area
1,762 sq ft

Facts & Features

Home Facts

Type Commercial Sale
Year Built 1950
Living Area 1,762 sq ft
Lot Size 0.23 acres

Interior

Heating None
Cooling None
Flooring None
Appliances None
Fireplace None
Basement None
Laundry None
Features None

Exterior

Construction None
Architecture None
Roof None
Features None
Pool None
Spa None
Fencing None
Patio/Porch None

Parking

Features None

Utilities

Electric None
Water None
Sewer None
Gas None
Other None

Financial

Annual Tax $11,965

Interior Features

Flooring:
Appliances:
Interior Features:
Windows:
Basement:
Laundry:
Security:

Construction & Materials

Year Built: 1950
Structure Type:
Exterior Materials:
Roof:
Foundation:

Heating, Cooling & Utilities

Heating:
Cooling:
Hot Water:
Water Source:
Sewer:
Energy Features:

Exterior & Lot

Exterior Features:
Patio & Porch:
Fencing:
Other Structures:
Lot Features:
Road Surface:

Parking & Garage

Parking Features:

Location

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Neighborhood

138 Main St, Melrose MA 02176

Melrose, MA 02176

Walkability

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Nearby Schools

School District
Melrose School District local
A
✓ School Safety 2024-25
0.6% Low
0.4% Suspensions 0.4% In-School 0.2% Emergency
↓ 4.9% below state avg
E

Elementary Schools

7 schools
St. Mary Elementary School
0.5 mi
Grades PK-08
A
Lincoln School
0.5 mi | #130 of 824 | Score: 57.6
Improved 194 spots from last year
-0.6 below state avg
404 students Diverse
Rising School
Grades K-05
A-
Herbert Clark Hoover School
1.0 mi | #218 of 824 | Score: 54.0
Dropped 88 spots from last year
-4.2 below state avg
260 students Moderate
Grades K-05
A
Winthrop School
1.2 mi | #89 of 824 | Score: 59.8
Improved 1 spots from last year
+1.6 above state avg
392 students Less Diverse
Strong Attendance
Grades K-05
A
Roosevelt School
1.4 mi | #124 of 824 | Score: 57.9
Improved 100 spots from last year
-0.4 below state avg
406 students Moderate
Rising School Strong Attendance
Grades K-05
Early Childhood Center
1.5 mi
246 students Moderate
Grades PK-K
A+
Horace Mann School
1.7 mi | #79 of 824 | Score: 60.5
Dropped 73 spots from last year
+2.3 above state avg
254 students Less Diverse
Strong Attendance
Grades K-05
M

Middle Schools

1 school
A-
Melrose Middle School
1.3 mi | #92 of 352 | Score: 50.4
Improved 6 spots from last year
-7.8 below state avg
886 students Moderate
Grades 06-08
Learn about these ratings
School data provided by BMN Schools

Monthly Payment Calculator

Monthly Payment
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Including down payment
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Down: $0
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Monthly Payment Breakdown

Principal & Interest $0
Property Tax $997
Homeowners Insurance $200
PMI (if <20% down) $0

Loan Summary

Total of 360 payments $0
Total principal paid $0
Total interest paid $0

Rate Impact

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Payment Over Time

Interest
Principal
Year 1
95% Interest
Year 15
50/50
Year 30
95% Principal
* Estimates only. Actual payments may vary. Consult with a lender for accurate figures.

Property History

Property Timeline

🏠
Listed for Sale
Jan 20, 2026
$1,200,000
Original listing
Agent: Jason Madden Office: Pondfield Commercial Group

Price & Status History

Date Event Price Change
Jan 20, 2026 New Listing Added $1,200,000 —

Market Statistics

Time on Market
3 hours 26 minutes
Price per Sq Ft
$681

Tax History

Year Taxes Assessment
2025 $11,965 —

Financial Details

Annual Property Tax
$11,965
Tax Year 2025

Listing Information

Listing Agent Jason Madden
Listing Office Pondfield Commercial Group
Agent MLS ID BB802512
Office MLS ID AN2193
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.

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138 Main St, Melrose MA 02176 - Photo 1 138 Main St, Melrose MA 02176 - Photo 2 138 Main St, Melrose MA 02176 - Photo 3 138 Main St, Melrose MA 02176 - Photo 4 138 Main St, Melrose MA 02176 - Photo 5 138 Main St, Melrose MA 02176 - Photo 6
Steven Novak

Steven Novak

BMN Boston Real Estate

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