Davis Square New Office
For Lease
$35 SF/Yr
Pending
377 Summer #1, Somerville, MA 02144
New office space in a prime, thriving Davis Square location.
Space SizeContact for details
Days on Market899
Property Features for 377 Summer #1
General Information
Standard status
Pending
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$58,000
Building Details
Year Built
2014
Listing Agency:
SelectRE Boston
(617) 777-6109
Listed By:
Sean McLaughlin
Source:
Corcoran
Added: Feb 29, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:41AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SelectRE Boston
Investment Insights
Based on property information with market context.
This is a newly constructed office space located in Davis Square, within a mixed-use building. The property offers potential for a variety of uses and benefits from high vehicular and pedestrian traffic due to its prime location at a signaled intersection. The building is situated directly above a Community Credit Union. The location provides convenient access to the Red Line and major highways, including Route 2 and I-93. Underground parking is available. The office space is located on a floor with two other office spaces, sharing two restrooms and a custodian's closet. The property has a size of 1583 square feet.
Key Highlights
- Prime Davis Square location with high vehicular and pedestrian traffic.
- Easy access to Red Line and major highways (Route 2, I‑93).
- Newly constructed office space in a 1st class mixed‑use building (built in 2014).
Property Analytics
Property Profile
Current Use
Lease Details
NNN (Triple Net)
Lease Type
$5.25 /SF/Yr
CAM
Location Intelligence
Trade Area within ½ mile
2,829
Businesses Nearby
Explore this area
Business Placement
Demographics for 02144, MA
25,497
Population
11,881
Households
2.1
Avg Household Size
31
Median Age
75%
College-Educated
96%
High-School Grad
1.1 sq mi
ZIP Area
23,179
Density / Sq Mi
$140,591
Median Household Income
$74,639
Median Earnings
$2,654
Median Rent
$987,000
Median Home Value
Market
Lease Benchmarks for Somerville, MA
$38.57 /SF/Yr
Avg Asking Price
$15.2–$55 /SF/Yr
Price Range
4,563 SF
Avg Space Size
This space is priced 9% below the average of $38.57 /SF/Yr.
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - New office space in a prime, thriving Davis Square location.
Where is this office units located?
The property is located at 377 Summer #1 Somerville, MA.
What is the lease rate?
The lease rate is $35 SF/Yr.
What are key features of this property?
This property features: Prime Davis Square location with high vehicular and pedestrian traffic.; Easy access to Red Line and major highways (Route 2, I‑93).; Newly constructed office space in a 1st class mixed‑use building (built in 2014).
