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    38 Franklin Ave Somerville, MA 02145

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    For Sale
    $500,000

    Rare vacant lot near the new Green Line T stop.

    Lot size:
    0.05 Acres

    Property Features for 38 Franklin Ave

    General Information

    Lot size
    0.05 Acres
    Source: Elliman

    Listing Agent: Dana Ford

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Vacant Land in Somerville

    This offering presents an opportunity for developers and investors to acquire a vacant lot in Somerville. The zoning may allow for multiple units, with potential for buildings up to 3 stories tall. The property is located in East Somerville, near the new Green Line T stop, providing convenient access to transportation. The sale includes two separate lots of record.
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Somerville
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.0851026
    Latitude
    42.3828851

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    FAQs

    What type of property is this?
    Land - Rare vacant lot near the new Green Line T stop.
    Where is this land located?
    The property is located at 38 Franklin Ave Somerville, MA.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: - Rare vacant lot in a desirable Somerville location.; - Development potential: Zoning may allow multiple units and 3-story buildings.; - Close proximity to the new Green Line T stop for convenient transportation.
    (603) 731-7228
    Request Owner's contact information
    38 Franklin Ave Somerville, MA 02145
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    Somerville, MA 02145
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    38 Franklin Ave Somerville, MA 02145
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