Mixed-Use Retail and
For Sale
Contact for pricing
Pending
16 Union Square, Somerville, MA 02143
Two-story brick building with street-level retail and four residential units on the second story.
Property Size7,558 SF
Lot Size0.08 Acres
Days on Market303
Property Features for 16 Union Square
General Information
Standard status
Pending
Size
7,558 SF
Lot size
0.08 Acres
Property subtype
Mixed Use, Multifamily, Retail
Additional Details
Highway Access
Yes
Multifamily Units
4
Building Details
Year Built
1900
Stories
2
Construction
brick
Listing Agency:
Bernazzani Real Estate, LLC.
Listed By:
Brendon Bernazzani · License #MA 9566442-RE-B
Source:
Crexi
Added: Oct 3, 2025
Changed: Jul 23
Last Checked: Jul 25 at 8:46AM
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 Bernazzani Real Estate, LLC.
Investment Insights
Based on property information with market context.
16 Union Square is a two-story brick, mixed-use property consisting of two street-level commercial/retail spaces and four residential units on the second story. Originally constructed in 1900, the building totals 6 units and contains 7,558 square feet of gross living area across two stories.
The property is located in the heart of Union Square in Somerville, with easy access to the MBTA Green Line extension and major regional routes including I-93, I-90, and Routes 2 and 28. It is also described as being near E. Somerville/Sullivan Square, Porter Square, Inman Square, and Harvard/MIT.
The building sits on a 0.08-acre parcel and is being offered for sale. Additional information, including the OM and rent roll, is available by contacting the listing broker directly.
The property is located in the heart of Union Square in Somerville, with easy access to the MBTA Green Line extension and major regional routes including I-93, I-90, and Routes 2 and 28. It is also described as being near E. Somerville/Sullivan Square, Porter Square, Inman Square, and Harvard/MIT.
The building sits on a 0.08-acre parcel and is being offered for sale. Additional information, including the OM and rent roll, is available by contacting the listing broker directly.
Key Highlights
- Two‑story brick 6‑unit mixed‑use building at 16 Union Square
- Contains 4 residential units on the second story and 2 street‑level commercial/retail spaces
- Built in 1900 on a 0.08‑acre parcel
Financial Insights For Apartment 5plus
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 | $288.4k | $38.16 |
| − Vacancy | −$15.0k | −$1.98 |
| EGI | $273.4k | $36.18 |
| − OpEx | −$123.0k | −$16.28 |
| NOI | $150.4k | $19.90 |
7,558 SF · lease $38.16/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.15M
$1.88M – $2.51M
NOI $150,379 @ 7.0% cap · market cap 6.40%
Second Best
Retail
$1.55M
$1.36M – $1.81M
NOI $108,630 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$4.47M
$3.92M – $5.22M
NOI $313,202 @ 7.0% cap · market cap 13.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,606
Businesses Nearby
Explore this area
Business Placement
Demographics for 02143, MA
26,022
Population
12,901
Households
2
Avg Household Size
33
Median Age
74%
College-Educated
95%
High-School Grad
1.5 sq mi
ZIP Area
17,348
Density / Sq Mi
$126,102
Median Household Income
$73,055
Median Earnings
$2,424
Median Rent
$930,200
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?
Apartment building - Two-story brick building with street-level retail and four residential units on the second story.
Where is this apartment building located?
The property is located at 16 Union Square Somerville, MA.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Two‑story brick 6‑unit mixed‑use building at 16 Union Square; Contains 4 residential units on the second story and 2 street‑level commercial/retail spaces; Built in 1900 on a 0.08‑acre parcel
