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176-182 Broadway Somerville, MA 02145

For Sale
$2,999,900

Developable mixed-use project with potential for up to 37 units.

Lot size:
0.27 Acres

Property Features for 176-182 Broadway

General Information

Lot size
0.27 Acres

Building Details

Year built
1967

Source: Steve Bremis Realty Group Agent The Steve Bremis Team

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


Overview

Mixed-Use Development Project Opportunity

This is a developable five-story mixed-use development project. The property includes two parcels with over 11,000 square feet of land, being sold as a package. Zoned MR5, the location allows for additional commercial space of up to 5,000 square feet. A buildout with typical construction could allow up to 28 units, approximating 31,970 gross square feet of building space, with an average unit size of approximately 1,125 square feet. Alternatively, building as a net-zero building could allow for up to a maximum of 37 units with approximately 577 square feet more or less. One parking space is required per unit, and there is enough space for up to 23 spaces on site. A special permit for relief regarding parking is needed to achieve the maximum number of units. The affordable housing requirement for the City of Somerville is 20%. The location is rated a Walker's Paradise with a score of 95 and is conveniently located under a mile to Green and Orange Line subway stops.
Location Intelligence

Current Use by Public Records

Commercial 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
-71.0865719
Latitude
42.3887011

FAQs

What type of property is this?
Commercial land - Developable mixed-use project with potential for up to 37 units.
Where is this commercial land located?
The property is located at 176-182 Broadway Somerville, MA.
What is the asking price?
The asking price for this property is $2,999,900.
What are key features of this property?
This property features: - Developable five-story mixed-use project in a Walker's Paradise location (score of 95).; - Potential for up to 37 units.; - Includes two parcels with over 11,000 sq ft of land.
More about this property
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