Industrial Flex Building For
For Sale
$9,000,000
40 Lake Street, Somerville, MA 02143
24,657 SF industrial flex building in Somerville, Massachusetts.
Property Size24,657 SF
Price / SF$365.01
Days on Market528
Property Features for 40 Lake Street
General Information
Standard status
Active
Size
24,657 SF
Taxes and HOA fees
Annual Taxes
$9
Building Details
Year Built
1912
Listing Agency:
Boston Realty Advisors
Listed By:
Daniel Alper
Source:
Corcoran
Added: May 5, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 Boston Realty Advisors
Investment Insights
Based on property information with market context.
The property at 40 Lake Street presents an opportunity for investors and business owners to acquire an industrial flex building. The building has a total area of approximately 24,657 square feet and is located on a 0.69-acre parcel. Formerly a manufacturing facility, the property includes two drive-in garage doors, four loading areas, and parking space for 15 or more vehicles. The property is zoned FAB, which allows for a variety of flex uses. The property is being sold vacant, offering immediate occupancy.
Key Highlights
- Strategic location between Union Square and Harvard Square.
- +/-24,657 square foot industrial flex building on a .69‑acre parcel.
- FAB zoning permits a diverse range of flex uses.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$262,275
Cap Rate
2.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,245,500
$5.2M
Cap Rate 7%
$3,746,786
$3.7M
Cap Rate 9%
$2,914,167
$2.9M
Market Conditions
NOI Build-Up for 24,657 SF
Gross rent
$396.5K $16.08/SF
− Vacancy
−$21.8K −$0.88/SF
EGI
$374.7K $15.20/SF
− OpEx
−$112.4K −$4.56/SF
NOI
$262.3K $10.64/SF
Area
Middlesex County, MA
Vacancy
5.50%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,245,500
Cap Rate 7%
$3,746,786
Cap Rate 9%
$2,914,167
Alternative Uses
Best Use
Industrial
$3.75M
$3.28M – $4.37M
NOI $262,275 @ 7.0% cap · market cap 2.91%
Second Best
Flex RnD
$1.75M
$1.53M – $2.04M
NOI $122,280 @ 7.0% cap · market cap 1.36%
Theoretical Best
Office A
$14.60M
$12.77M – $17.03M
NOI $1,021,780 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,469
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02143, MA
26,022
Population
12,901
Households
2
Avg Household Size
33
Median Age
74%
College-Educated
95%
High-School Grad
1.5 sq mi
ZIP Area
17,348
Density / Sq Mi
$126,102
Median Household Income
$73,055
Median Earnings
$2,424
Median Rent
$930,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Similar Off Market Nearby
- Jules Catering — 66 South St, Somerville, MA 02143
- Wade BBQ LLC — 5 Sanborn Ct, Somerville, MA 02143
- Cuisine en Locale — 156 Highland Ave, Somerville, MA 02143
Frequently Asked Questions
What type of property is this?
Flex space - 24,657 SF industrial flex building in Somerville, Massachusetts.
Where is this flex space located?
The property is located at 40 Lake Street Somerville, MA.
What is the asking price?
The asking price for this property is $9,000,000.
What are key features of this property?
This property features: Strategic location between Union Square and Harvard Square.; +/-24,657 square foot industrial flex building on a .69‑acre parcel.; FAB zoning permits a diverse range of flex uses.
