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

    32-40 White Street Pl Somerville, MA 02144

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contract
    Contact for pricing

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

    Property Features for 32-40 White Street Pl

    General Information

    Standard status
    Contract

    We can help!

    Listing Contact
    Julian Lewis
    Source: Corcoran

    Listing Agency: Fortune RE Listing Agent: Julian Lewis

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

    Learn more

    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
    -71.1173174
    Latitude
    42.388515

    Nearby Similar for Sale

    • New
      $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
    • $1,599,999
      4,767 SF

      Spacious Multi-Family in Somerville, MA

      Large, vacant multi-family property near Union Square.
      34 Putnam St, Somerville, MA 02143
      View Details
    • Contact for pricing

      Davis Square Retail Opportunity

      Retail space available in Davis Square, Somerville.
      77 Holland St, Somerville, MA 02144
      View Details
    • Contact for pricing

      Somerville Flex Industrial Building

      Flex industrial building near Union and Harvard Square.
      40 Lake St, Somerville, MA 02143
      View Details
    • $2,995,000

      Retail Property in Davis Square

      Freestanding single tenant retail property in Somerville's Davis Square.
      77 Holland St, Somerville, MA 02144
      View Details
    • Contact for pricing

      Somerville Retail Space Opportunity

      Commercial space in mixed-use building with public and private outdoor spaces.
      1060 Broadway St, Somerville, MA 02144
      View Details
    • $179,000

      Renovated Retail Space in Somerville

      Turnkey retail space in a high-demand Somerville location.
      70 Prospect St, Somerville, MA 02143
      View Details
    • $1,479,900

      Porter Square Victorian with Potential

      Victorian duplex near Porter Square, ideal for owner occupants.
      35 Ibbetson St, Somerville, MA 02143
      View Details
    • Contact for pricing

      Somerville Vacant Two-Family Home

      Vacant two-family home with large lot in prime location.
      36 Everett Ave, Somerville, MA 02129
      View Details
    • Contact for pricing

      Union Square Office Space Available

      Class B office building with private offices and roof deck.
      66 Union Sq, Somerville, MA 02143
      View Details
    • Contact for pricing

      Office/Flex Space Available

      17,101 - 32,776 SF of office/flex space for lease.
      22 Mcgrath Hwy, Somerville, MA 02143
      View Details
    • Contact for pricing

      Innovative Office Space in Somerville

      Office space available in mixed-use development near Kendall Square.
      561 Windsor St, Somerville, MA 02143
      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 Pl Somerville, MA.
    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
    Request Owner's contact information
    32-40 White Street Pl Somerville, MA 02144
    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.
    32-40 White Street Pl
    Somerville, MA 02144
    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
    32-40 White Street Pl Somerville, MA 02144
    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

    We can help!
    Listing Contact
    Julian Lewis
    (617) 874-1000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!