Somerville Mixed-Use Building For
148 Pearl Somerville, MA 02145
148 Pearl, Somerville, MA, 02145
$1,599,000
For Sale
$1,599,000
Mixed-use building with three residential units and one commercial unit.
Property Size3,115 SF
Price / SF$513.32
Days on Market124
Property Features for 148 Pearl
General Information
- Standard status
- Active
- Size
- 3,115 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1910
Listing Agency
Engel & Volkers Boston
Listed by
John Silk
Source
Stevebremis
Added: Mar 16 Checked: Jul 15 at 9:52 pm
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 Engel & Volkers Boston
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.
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 | $99.1k | $31.80 |
| − Vacancy | −$4.9k | −$1.57 |
| EGI | $94.2k | $30.23 |
| − OpEx | −$28.2k | −$9.07 |
| NOI | $65.9k | $21.16 |
3,115 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$941.6K
$823.9K – $1.10M
NOI $65,915 @ 7.0% cap · market cap 4.12%
Second Best
Apartment 5plus
$885.4K
$774.7K – $1.03M
NOI $61,978 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $129,085 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
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.
