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Industrial Flex Building For Sale

40 Lake Street Somerville, MA 02143

40 Lake Street, Somerville, MA, 02143

$9,000,000

For Sale

$9,000,000

24,657 SF industrial flex building in Somerville, Massachusetts.

Property Size24,657 SF

Price / SF$365.01

AddedMay 5, 2025

Days on Market438

Last RefreshMar 16 at 9:09 am

Property Features for 40 Lake Street

General Information

Standard status: Active
Size: 24,657 SF

Building Details

Year Built: 1912

Listing office Boston Realty Advisors

Listing date May 5, 2025

Source Corcoran

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.

Local Financial Insights For Industrial

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$396.5k	$16.08
− Vacancy	−$21.8k	−$0.88
EGI	$374.7k	$15.20
− OpEx	−$112.4k	−$4.56
NOI	$262.3k	$10.64

24,657 SF · lease $16.08/SF/yr · vacancy 5.50% · expense 30.00%

Alternative Uses

Best Use

Industrial

$3.75M

$3.28M – $4.37M (±1% cap)

NOI $262,275 @ 7.0% cap · market cap 2.91%

Second Best

Flex RnD

$1.75M

$1.53M – $2.04M (±1% cap)

NOI $122,280 @ 7.0% cap · market cap 1.36%

Theoretical Best

Office A

$14.60M

$12.77M – $17.03M (±1% cap)

NOI $1,021,780 @ 7.0% cap · market cap 11.35%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

H D Chasen ... Industrial Manufacturer

Suggested Use

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For sale
Flex space
MA
Somerville
02143
40 Lake Street

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.