Somerville Retail Investment
For Sale
$2,900,000
163-179 Washington St, Somerville, MA 02143
Fully occupied retail asset in high-visibility Somerville location for sale.
Property Size10,848 SF
Lot Size0.18 Acres
Price / SF$267.33
Days on Market97
Property Features for 163-179 Washington St
General Information
Standard status
Active
Size
10,848 SF
Lot size
0.18 Acres
Property subtype
Commercial
Building Details
Year Built
1890
Listing Agency:
Berkshire Hathaway HomeServices Commonwealth Real Estate
(617) 803-0591
Listed By:
The Toland Team
(617) 803-0591
Source:
Liongatere
Added: Apr 25
Changed: Jul 10
Last Checked: Jul 24 at 5:17PM
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 Berkshire Hathaway HomeServices Commonwealth Real Estate
Investment Insights
Based on property information with market context.
Located at 163-179 Washington St in Somerville, this multi-tenant retail asset is offered for sale. The property is fully occupied and features four street-level storefronts situated on a high-visibility corner along Washington Street. The building has a gross area of 10,848 square feet and is located on a 7,683 square foot lot. The property is located in the Union Square area, approximately 0.4 miles from Union Square Station (Green Line) and 0.6 miles from Twin City Plaza, with Assembly Square about 1.8 miles away. The site is within the City's MR5 zoning district, which may provide long-term optionality for investors considering future repositioning or redevelopment, subject to buyer due diligence and required approvals. This property offers a chance to secure stabilized storefront occupancy and a prominent corridor presence in Somerville.
Key Highlights
- Fully occupied, multi‑tenant retail asset providing stabilized income.
- High‑visibility corner location** on well‑traveled Washington Street.
- Located in the Union Square area, close to Union Square Station (Green Line).
Financial Insights For Retail
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 | $238.2k | $21.96 |
| − Vacancy | −$15.5k | −$1.43 |
| EGI | $222.7k | $20.53 |
| − OpEx | −$66.8k | −$6.16 |
| NOI | $155.9k | $14.37 |
10,848 SF · lease $21.96/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.23M
$1.95M – $2.60M
NOI $155,916 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.42M
$5.62M – $7.49M
NOI $449,538 @ 7.0% cap · market cap 15.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,874
Businesses Nearby
197k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 38%
Shops & Services 27%
Apparel 16%
Dining 15%
Target
Superstores
74,182 visits/mo
0.2 miles
Marshalls
Apparel
25,730 visits/mo
0.4 miles
Dollar Tree
Shops & Services
24,950 visits/mo
0.5 miles
Burger King
Dining
21,589 visits/mo
0.1 miles
Dunkin' Donuts
Dining
7,431 visits/mo
0.2 miles
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 Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Fully occupied retail asset in high-visibility Somerville location for sale.
Where is this storefront property located?
The property is located at 163-179 Washington St Somerville, MA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Fully occupied, multi‑tenant retail asset providing stabilized income.; High‑visibility corner location** on well‑traveled Washington Street.; Located in the Union Square area, close to Union Square Station (Green Line).
