Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    32-40 White Street Somerville, MA 2144

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $3,450,000

    8,315 SF MR4-zoned development site near Porter Square MBTA.

    Type:Land or Vacant Lot
    Lot size:
    0.19 Acres
    Added:
    Jan 29, 2025
    Days on Market:
    452
    Last Refresh:
    Apr 5 at 9:30 pm

    Property Features for 32-40 White Street

    General Information

    Standard status
    Active
    Lot size
    0.19 Acres
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    Julian Lewis

    Listing agent Julian Lewis

    Listing office Fortune RE

    Listing date Jan 29, 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 Fortune RE

    Overview

    Porter Square Development Site Opportunity

    An opportunity to acquire a MR4-zoned development site located in the heart of Porter Square. The site comprises two adjacent parcels within Somerville’s ¼ transit zone, situated next to the Porter Square Galleria Mall and just 400 feet from the Porter Square MBTA Station. The site includes a single-story commercial building and a single-family home. The site offers 8,315 square feet of space.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Somerville
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.1173
    Latitude
    42.3885

    Nearby Similar for Sale

    • $1,450,000
      3,269 SF

      Somerville Multifamily Near Tufts University

      Well-maintained 2-family property near Tufts, ideal for investors.
      183 Powder House Blvd, Somerville, MA 02144
      View Details
    • $1,749,000
      3,115 SF

      Somerville Mixed-Use Building For Sale

      Mixed-use building with income potential or condo conversion opportunity.
      148 Pearl, Somerville, MA 02145
      View Details
    • $1,799,000
      3,540 SF

      Somerville Multifamily Investment Opportunity

      East Somerville multifamily property near transit and amenities.
      20 Autumn St, Somerville, MA 02145
      View Details
    • $1,449,900
      2,184 SF

      Meticulously Maintained Somerville Two-Family

      Turn-key 2-family near Tufts, Davis Square, and Alewife Greenway.
      66 Gordon St, Somerville, MA 02144
      View Details
    • $2,950,000
      3,820 SF

      Inman Square Retail Opportunity

      Prime Somerville/Cambridge location with two retail units and parking.
      70 Beacon, Somerville, MA 02143
      View Details
    • $2,500,000
      6,755 SF

      Somerville Multifamily Investment Opportunity

      Six-unit building near Union Square with strong rental income potential.
      8 Everett St, Somerville, MA 02143
      View Details
    • $1,125,000
      2,205 SF

      Somerville Multi-Family Residence

      Multi-family residence in Somerville, MA, built in 1900.
      7 Woodbine St, Somerville, MA 02143
      View Details
    • $150,000

      Union Square Restaurant Opportunity

      Established Thai restaurant for sale in Union Square.
      93 Beacon, Somerville, MA 02143
      View Details
    • $1,569,900
      2,608 SF

      Davis Square Two-Family Home

      Well-maintained two-family home in desirable Davis Square.
      67 Irving Street, Somerville, MA 02144
      View Details
    • $2,950,000
      2,020 SF

      Inman Square Retail Opportunity

      Prime Somerville/Cambridge retail building with two units and parking.
      70 Beacon, Somerville, MA 02143
      View Details
    • $2,600,000
      4,355 SF

      Somerville Triplex Near Tufts University

      Turnkey investment opportunity near Tufts with strong income potential.
      25-27 Upland Road, Somerville, MA 02144
      View Details
    • $1,749,000
      3,115 SF

      Somerville Mixed-Use Building For Sale

      Mixed-use building with three residential units and one commercial unit.
      148 Pearl Street, Somerville, MA 02145
      View Details

    FAQs

    What type of property is this?
    Commercial land - 8,315 SF MR4-zoned development site near Porter Square MBTA.
    Where is this commercial land located?
    The property is located at 32-40 White Street Somerville, MA.
    What is the asking price?
    The asking price for this property is $3,450,000.
    What are key features of this property?
    This property features: Prime transit‑oriented location in the heart of Porter Square.; MR4‑zoned 8,315 square foot development site.; Located within Somerville’s ¼ transit zone.
    (617) 874-1000
    We can help!
    Listing Contact
    Julian Lewis
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!