Mixed-Use Building with
For Sale
$3,400,000
55 Elm St Somerville, Somerville, MA 02144
Mixed-use building with two retail storefronts and three multifamily units, plus driveway and yard.
Property Size6,290 SF
Price / SF$540.54
Days on Market96
Property Features for 55 Elm St Somerville
General Information
Standard status
Active
Size
6,290 SF
Zoning
NR
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$16,881
Building Details
Year Built
1900
Listed By:
Sharon Lucido
(508) 643-8166
Source:
Bournetosellrealestate
Added: Jun 4
Changed: Sep 6
Last Checked: Sep 6 at 4:19AM
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 Sharon Lucido
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
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$133,099
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,661,980
$2.7M
Cap Rate 7%
$1,901,414
$1.9M
Cap Rate 9%
$1,478,878
$1.5M
Market Conditions
NOI Build-Up for 6,290 SF
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.
Gross rent
$200.0K $31.80/SF
− Vacancy
−$9.9K −$1.57/SF
EGI
$190.1K $30.23/SF
− OpEx
−$57.0K −$9.07/SF
NOI
$133.1K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,661,980
Cap Rate 7%
$1,901,414
Cap Rate 9%
$1,478,878
Alternative Uses
Best Use
Multifamily LT 5
$1.90M
$1.66M – $2.22M
NOI $133,099 @ 7.0% cap · market cap 3.91%
Second Best
Apartment 5plus
$1.79M
$1.56M – $2.09M
NOI $125,150 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$3.72M
$3.26M – $4.34M
NOI $260,656 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,660
Businesses Nearby
Explore this area
Business Placement
Demographics for 02144, MA
25,497
Population
11,881
Households
2.1
Avg Household Size
31
Median Age
75%
College-Educated
96%
High-School Grad
1.1 sq mi
ZIP Area
23,179
Density / Sq Mi
$140,591
Median Household Income
$74,639
Median Earnings
$2,654
Median Rent
$987,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
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 $3,400,000.
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
