Porter Square Redevelopment
815 Somerville Ave Cambridge, MA 02140
For Sale
$13,000,000
Redevelopment opportunity in the heart of Porter Square, Cambridge.
Property Size27,824 SF
Lot Size0.24 Acres
Price / SF$467.22
Days on Market93
Property Features for 815 Somerville Ave
General Information
- Standard status
- Active
- Size
- 27,824 SF
- Lot size
- 0.24 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1917
Listing Agency:
Cushman & Wakefield
(617) 816-5257
Listed By:
Christopher Sower
(617) 816-5257
Source:
Liongatere
Added: Apr 25
Changed: Jul 10
Last Checked: Jul 25 at 3:26PM
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 Cushman & Wakefield
Investment Insights
Based on property information with market context.
Located in the heart of Porter Square in Cambridge, Massachusetts, 815 Somerville Avenue presents an exceptional redevelopment opportunity. The property features a three-story brick building with 27,824 gross square feet and 18 garage parking spaces. It is situated on a 10,442 square foot parcel within the Massachusetts Avenue District, a zoning district that allows up to 12 stories of residential use by-right. The property is located across the street from the MBTA Porter Square Station (Red Line), providing direct access to Harvard, MIT, Kendall Square, and Downtown Boston. The location is surrounded by amenities and cultural activities. Alternative use and value-creation opportunities include ground up redevelopment for residential use, re-tenanting the existing office space, or utilizing the in-place approvals to retrofit the building for lab/R&D use.
Key Highlights
- Prime redevelopment opportunity in the heart of Porter Square, Cambridge.
- Located across the street from the MBTA Porter Square Station (Red Line) for easy access to key areas.
- New zoning allows up to 12 stories of residential use by‑right.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.61M | $57.96 |
| − Vacancy | −$177.4k | −$6.38 |
| EGI | $1.44M | $51.58 |
| − OpEx | −$358.8k | −$12.90 |
| NOI | $1.08M | $38.69 |
27,824 SF · lease $57.96/SF/yr · vacancy 11.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$15.38M
$13.46M – $17.94M
NOI $1,076,463 @ 7.0% cap · market cap 8.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$21.45M
$18.77M – $25.03M
NOI $1,501,566 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Lesley University
University
FedEx Drop Box
Postal Service
Office of Information Technology ...
University Department
FAQs
What type of property is this?
Office building - Redevelopment opportunity in the heart of Porter Square, Cambridge.
Where is this office building located?
The property is located at 815 Somerville Ave Cambridge, MA.
What is the asking price?
The asking price for this property is $13,000,000.
What are key features of this property?
This property features: Prime redevelopment opportunity in the heart of Porter Square, Cambridge.; Located across the street from the MBTA Porter Square Station (Red Line) for easy access to key areas.; New zoning allows up to 12 stories of residential use by‑right.
