Mixed-Use Building with
55 Elm St Somerville Somerville, MA 02144
55 Elm St Somerville, Somerville, MA, 02144
$3,900,000
For Sale
$3,900,000
Mixed-use building with two retail storefronts and three multifamily units, plus driveway and yard.
Property Size6,290 SF
Price / SF$620.03
Days on Market50
Property Features for 55 Elm St Somerville
General Information
- Standard status
- Active
- Size
- 6,290 SF
Building Details
- Year Built
- 1900
Listing agency
RE/MAX Real Estate Center
(508) 643-8166
Listed by
Sharon Lucido · License #449501842
(508) 643-8166
Source
Bournetosellrealestate
Added: Jun 4 Updated: Jul 22 at 1:51PM Checked: Jul 22 at 1:51PM
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 RE/MAX Real Estate Center
Investment Insights
Based on property information with market context.
This mixed-use property includes a 6,290 SF building with two commercial storefronts and three multifamily units. The residential portion consists of two 1-bedroom units and one 2-bedroom unit. The retail spaces feature back rooms and basement storage, and the layout allows for the potential to combine both storefronts into a single larger space. A driveway and yard are included with the property, and the building will be delivered vacant.
The site is located at a recognizable corner in Somerville, directly across from the Porter Square Shopping Center and the T Stop. The property is described as highly visible and transit-oriented, with significant foot traffic and convenient access to Cambridge, Boston, and surrounding communities.
As presented, the offering is a combined commercial and residential building with multiple storefront-ready spaces and unit variety across the upper levels.
The site is located at a recognizable corner in Somerville, directly across from the Porter Square Shopping Center and the T Stop. The property is described as highly visible and transit-oriented, with significant foot traffic and convenient access to Cambridge, Boston, and surrounding communities.
As presented, the offering is a combined commercial and residential building with multiple storefront-ready spaces and unit variety across the upper levels.
Key Highlights
- 6,290 SF mixed‑use building with two commercial storefronts and a three‑unit multifamily residence
- Multifamily mix includes two 1‑bedroom units and one 2‑bedroom unit
- Two retail storefronts with back rooms and basement storage; potential to combine into one larger space
Local Financial Insights For Multifamily LT 5
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 | $200.0k | $31.80 |
| − Vacancy | −$9.9k | −$1.57 |
| EGI | $190.1k | $30.23 |
| − OpEx | −$57.0k | −$9.07 |
| NOI | $133.1k | $21.16 |
6,290 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.90M
$1.66M – $2.22M
NOI $133,099 @ 7.0% cap · market cap 3.41%
Second Best
Apartment 5plus
$1.79M
$1.56M – $2.09M
NOI $125,150 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$3.72M
$3.26M – $4.34M
NOI $260,656 @ 7.0% cap · market cap 6.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Big Fish Little ...
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use building with two retail storefronts and three multifamily units, plus driveway and yard.
Where is this mixed-use property located?
The property is located at 55 Elm St Somerville Somerville, MA.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 6,290 SF mixed‑use building with two commercial storefronts and a three‑unit multifamily residence; Multifamily mix includes two 1‑bedroom units and one 2‑bedroom unit; Two retail storefronts with back rooms and basement storage; potential to combine into one larger space
