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    453 Somerville Avenue

    Somerville, MA 02143
    • $1,795,000
    • STATUS: Active
    • MLS #: 72748209
    UPDATED: 65 min ago
    $1,795,000
    • 0
      BEDS
    • 0.11
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    1930
    County:
    Area:

    School Ratings & Info

    Listing courtesy of Robert Levine of Ronco Realty Llc.

    Description

    A Rare Real Estate Investment Opportunity to purchase this parcel in hot Union Square of Somerville. Located across the street from the GreentownLab. The building can be used as: Shared Office Space, Daycare, Catering, Architect space. The parcel is zoned flex / fabrication office . This use is similar to the GreentownLab. The parcel contains approximately 5,000 sqft zoned as flex that is suitable for architect firm, engineers, scientists, innovators, creative professionals and Catering Service. Zoning allows 4 stories that could be built up between 12,000 to 16,000 sqft. See attached zoning page. Performa (commercial): $35 to 40 sqft triple net, 16,000 x $35= $560,000 triple net revenue yearly. A 5% cap gives an appraised value north of $11M, cost to build $300 per sqft $4.8M This is a great investment. Owner also believes that approximately 10,000 of residential use is also feasible with five units condo or rental. Also suitable for 40B project. See attached rendering

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    The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. Data last updated 2020-11-26T14:06:05.897.
    www.cameronprestige.com/homes/111341348
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    453 Somerville Avenue Somerville, MA 02143

    • Price: $1,795,000
    • Status: Active
    • Updated: 65 min ago
    • MLS #: 72748209
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.11
    Acres
    1930
    Built
    Neighborhood:
    Union Square
    County:
    Middlesex
    Area:
    Union Square
    Property Description
    A Rare Real Estate Investment Opportunity to purchase this parcel in hot Union Square of Somerville. Located across the street from the GreentownLab. The building can be used as: Shared Office Space, Daycare, Catering, Architect space. The parcel is zoned flex / fabrication office . This use is similar to the GreentownLab. The parcel contains approximately 5,000 sqft zoned as flex that is suitable for architect firm, engineers, scientists, innovators, creative professionals and Catering Service. Zoning allows 4 stories that could be built up between 12,000 to 16,000 sqft. See attached zoning page. Performa (commercial): $35 to 40 sqft triple net, 16,000 x $35= $560,000 triple net revenue yearly. A 5% cap gives an appraised value north of $11M, cost to build $300 per sqft $4.8M This is a great investment. Owner also believes that approximately 10,000 of residential use is also feasible with five units condo or rental. Also suitable for 40B project. See attached rendering
    Exterior Features

    Parking Features Open Parking Spaces 10 Stories 1

    Interior Features

    Maf Building Sq Ft 0.00 Ref Building Sq Ft 0.00 Rsf Building Sq Ft 0.00 Waf Building Sq Ft 0.00

    Property Features

    Assessed Value Building 64000.00 Assessed Value Land 542200.00 Assessed Value Total 606200.00 Commercial Industrial Type Commercial Disclosure No Exchange No Lease No Lender Owned No Mau Units 0 Ofu Units 1 On File21 E No Reu Units 0 Rsu Units 0 Short Sale Lender App Required No Space Available For Sale Sublet No Tax Year 2020 Taxes 9893.18 Utilities Public WaterPublic Sewer Wau Units 0 Year Built Source Pr Zone Description Other (See Remarks) Zoning Flex

    Listing information © 2020 MLS Property Information Network. All information is deemed reliable but should be independently verified.
    Listing provided courtesy of Robert Levine of Ronco Realty Llc.


    The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. Data last updated 2020-11-26T14:06:05.897.
     
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    Cameron Prestige, LLC
    20 DelCarmine St
    Wakefield MA, 01880
    Listing courtesy of Robert Levine of Ronco Realty Llc.