Building Details

Building Size 3,115 SF

Year Built 1910

Stories 4

Listing Agency: Engel & Volkers Boston Show Phone

Listed By: John Silk · License #449598443 Show Phone

Source: Churchillprop

Added: Mar 26 Changed: Oct 6 Last Checked: Oct 16 at 7:34AM

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Investment Insights

Based on property information with market context.

This East Somerville mixed-use building is comprised of three residential units, each featuring three beds and one bath, along with one commercial unit that includes a large attached garage. Updated systems are present throughout the property. The building offers potential as a rental property for generating monthly income or as a condo conversion project. It is suitable for investors, business owners, or owner-occupants. The property includes six off-street parking spaces located on the backside of the building. The property will be delivered vacant. The building spans 148-150 Pearl St and 18 Flint Ave. The property is situated in an ideal Somerville location, with proximity to shopping, highway access, and restaurants. The building has a size of 3115 square feet.

Key Highlights

• Delivered vacant, offering immediate occupancy or renovation potential.
• Mixed‑use building with three residential units (3 beds, 1 bath each) and one commercial unit with a large attached garage.
• Six off‑street parking spaces.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$65,915

Cap Rate

4.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,318,300 $1.3M

Cap Rate 7%

$941,643 $941.6K

Cap Rate 9%

$732,389 $732.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,115 SF

Gross rent

$99.1K $31.80/SF

− Vacancy

−$4.9K −$1.57/SF

EGI

$94.2K $30.23/SF

− OpEx

−$28.2K −$9.07/SF

NOI

$65.9K $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 Rate 5%

$1,318,300

Cap Rate 7%

$941,643

Cap Rate 9%

$732,389

Alternative Uses

Best Use

Multifamily LT 5

$941.6K

$823.9K – $1.10M (±1% cap)

NOI $65,915 @ 7.0% cap · market cap 4.12%

Second Best

Apartment 5plus

$885.4K

$774.7K – $1.03M (±1% cap)

NOI $61,978 @ 7.0% cap · market cap 3.88%

Theoretical Best

Office A

$1.84M

$1.61M – $2.15M (±1% cap)

NOI $129,085 @ 7.0% cap · market cap 8.07%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Accounting Firm Law Firm Acupuncture Real Estate Agency (Bike/Boat/Book/etc) Store Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,144

Businesses Nearby

Explore this area Business Placement

Demographics for 02145, MA

27,520

Population

12,669

Households

2.2

Avg Household Size

33

Median Age

55%

College-Educated

89%

High-School Grad

1.4 sq mi

ZIP Area

19,657

Density / Sq Mi

$119,167

Median Household Income

$63,629

Median Earnings

$2,377

Median Rent

$784,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Mixed-use building with three residential units and one commercial unit.

Where is this mixed-use property located?

The property is located at 148 Pearl Somerville, MA.

What is the asking price?

The asking price for this property is $1,599,000.

What are key features of this property?

This property features: Delivered vacant, offering immediate occupancy or renovation potential.; Mixed‑use building with three residential units (3 beds, 1 bath each) and one commercial unit with a large attached garage.; Six off‑street parking spaces.