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    453 Somerville Avenue

    Somerville, MA 02143
    • $1,795,000
    • STATUS: Active
    • MLS #: 72711935
    UPDATED: 29 min ago
    $1,795,000
    • 0
      BEDS
    • 0.11
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Vacant Land / Lots
    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: Marijuana Cultivation, Shared Office Space, Daycare, Catering,The parcel is zoned flex / fabrication office.The parcel contains approximately 5,000 sqft. Suitable for architect firm, engineers, scientists, innovators, creative professionals. 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. 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 2020-09-23T11:09:46.627.
    www.zackharwoodrealestate.com/homes/109133832
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    453 Somerville Avenue Somerville, MA 02143

    • Price: $1,795,000
    • Status: Active
    • Updated: 29 min ago
    • MLS #: 72711935
    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: Marijuana Cultivation, Shared Office Space, Daycare, Catering,The parcel is zoned flex / fabrication office.The parcel contains approximately 5,000 sqft. Suitable for architect firm, engineers, scientists, innovators, creative professionals. 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. 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

    Beachfront No Land Description Level Waterfront Flag No

    Property Features

    Assessments 606200.00 Disclosure No Electric Features On-Site Gas On-Site Land Type Commercial Lender Owned No Sewer Public Short Sale Lender App Required No Tax Year 2020 Taxes 9893.18 Water Private Year Built Source Pr Zone Usage Other (See Remarks) Zoning Ba

    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 2020-09-23T11:09:46.627.
     
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    Zack Harwood Real Estate | Berkshire Hathaway HomeServices Warren Residential
    535 Boylston Street 8th Floor
    Boston MA, 02116
    Listing courtesy of Robert Levine of Ronco Realty Llc.