Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    153 Washington St Somerville, MA 02143

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Highly visible retail space in Somerville with flexible layout options.

    Property size:
    1,450 SF
    Lot size:
    1,450 SF

    Property Features for 153 Washington St

    General Information

    Standard status
    Active
    Size
    1,450 SF

    Building Details

    Year built
    9999

    We can help!

    Listing Contact
    Adam Kotkin
    Source: Corcoran

    Listing Agency: Red Tree Real Estate Listing Agent: Adam Kotkin

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Somerville Retail Space For Rent

    This highly visible street-level retail space is available for rent in Somerville. The property is located on a major traffic route, offering excellent exposure. Situated on a corner, the former tattoo parlor provides approximately 1,450 square feet of flexible space. The space can be occupied by a single tenant or divided into two units of approximately 725 square feet each. The corner location benefits from strong signage potential, natural light, and consistent vehicle and pedestrian traffic. The property is suitable for retail, personal services, salon, studio, office, or specialty use. It is located in an active commercial corridor with convenient access to public transportation and surrounding neighborhoods.
    Location Intelligence

    Current Use by Public Records

    Suitcase the Studio Recording Studio

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Somerville
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.0893258
    Latitude
    42.3806588

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      Spaces Davis Square

      Discover many ways to work your way in AZ, Tempe - Hayden Ferry Lake
      240 Elm St, Somerville, MA 02144
      View Details
    • Contact for pricing

      MA, Somerville - Somerville Theatre

      Discover many ways to work your way in One Liberty Place
      49-55 Davis Sq, Somerville, MA 02114
      View Details
    • $10,000 /Mo
      7,000 SF

      Union Square Commercial Space

      Spacious commercial space in Union Square, Somerville, near MBTA.
      33-1/2 Union St, Somerville, MA 02143
      View Details
    • Contact for pricing
      3,000 SF

      Somerville Office Sublease Opportunity

      Class B office sublease with private offices, conference room, kitchenette.
      66-70 Union Sq, Somerville, MA 02143
      View Details
    • Contact for pricing
      15,019 SF

      Somerville Avenue Office Property

      Three-story office building in the heart of Somerville.
      599 Somerville Ave, Somerville, MA 02143
      View Details
    • Contact for pricing
      6,752 SF

      Somerville Office and Retail Space

      Office and retail spaces with on-site amenities and parking.
      14 Tyler St, Somerville, MA 02143
      View Details
    • Contact for pricing
      4,489 SF

      Somerville Retail Space For Rent

      Retail space available in dynamic mixed-use development near Assembly Row.
      290 Revolution Dr, Somerville, MA 02143
      View Details
    • Contact for pricing
      5,667 SF

      Somerville Office and Retail Space

      Office, retail, fitness, and entertainment spaces for rent in Somerville.
      21-29 Rev Nazareno Properzi Way, Somerville, MA 02143
      View Details
    • Contact for pricing
      3,333 SF

      Furnished Urban Office Sublease

      Furnished office space available for sublease through June 2023.
      120 Beacon St, Somerville, MA 02143
      View Details
    • Contact for pricing
      34,072 SF

      Somerville Retail/Restaurant Opportunity

      High-visibility retail or restaurant space near Assembly Row.
      65 Mystic Ave, Somerville, MA 02145
      View Details
    • Contact for pricing
      6,000 SF

      Somerville Retail Space on Broadway

      6,000 SF retail space available on Broadway in Somerville.
      122-130 Broadway, Somerville, MA 02145
      View Details
    • Contact for pricing
      1,964 SF

      Somerville Retail Space For Rent

      Retail space available for rent in Somerville, Massachusetts.
      300 Somerville Ave, Somerville, MA 02143
      View Details

    FAQs

    What type of property is this?
    Retail space - Highly visible retail space in Somerville with flexible layout options.
    Where is this retail space located?
    The property is located at 153 Washington St Somerville, MA.
    What are key features of this property?
    This property features: - High-visibility corner location on a major traffic route in Somerville; - Flexible space: 1,450 SF that can be used by a single tenant or divided into two ±725 SF units; - Strong signage potential and abundant natural light
    (617) 487-8015
    Request Owner's contact information
    153 Washington St Somerville, MA 02143
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    153 Washington St
    Somerville, MA 02143
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    153 Washington St Somerville, MA 02143
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Adam Kotkin
    (617) 487-8015 (617) 694-7356
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!