Built-Out Quick-Service
For Sale
$200,000
24 College Avenue, Somerville, MA 02144
Includes a basement level for preparation and storage, with seating for 12 guests.
Property Size600 SF
Price / SF$333.33
Days on Market88
Property Features for 24 College Avenue
General Information
Standard status
Active
Size
600 SF
Property subtype
Commercial
Space & Availability
Floor
1 + Basement
Furnished
Yes
Restaurant
Seating Capacity
12
Equipment Included
Yes
Building Details
Year Built
2017
Listing Agency:
Berkshire Hathaway HomeServices Commonwealth Real Estate
Listed By:
Arunee Tanampai
(617) 969-2121
Source:
Benoitrealestate
Added: Jul 22
Changed: Oct 16
Last Checked: Oct 16 at 8:53AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This conventional restaurant is configured for quick-service operations and includes a finished first-floor area of approximately 600 square feet. A second 600-square-foot basement provides space for food preparation and storage, while the dining area accommodates 12 seats. The premises were built in 2017 and are described as well maintained.
The property is located at 24 College Ave in Somerville, near Davis Square Station and Tufts University. The offering is structured as an FF&E asset sale only, providing the physical restaurant setup rather than a real estate sale.
The property is located at 24 College Ave in Somerville, near Davis Square Station and Tufts University. The offering is structured as an FF&E asset sale only, providing the physical restaurant setup rather than a real estate sale.
Key Highlights
- Approximately 600 SF on the first floor plus an additional 600 SF basement
- 12‑seat dining capacity
- Basement space supports food preparation and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,239
Cap Rate
5.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$224,780
$224.8K
Cap Rate 7%
$160,557
$160.6K
Cap Rate 9%
$124,878
$124.9K
Market Conditions
NOI Build-Up for 600 SF
Gross rent
$16.2K $27.00/SF
− Vacancy
−$1.2K −$2.03/SF
EGI
$15.0K $24.98/SF
− OpEx
−$3.7K −$6.24/SF
NOI
$11.2K $18.73/SF
Area
Middlesex County, MA
Vacancy
7.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$224,780
Cap Rate 7%
$160,557
Cap Rate 9%
$124,878
Alternative Uses
Best Use
Specialty Retail
$160.6K
$140.5K – $187.3K
NOI $11,239 @ 7.0% cap · market cap 5.62%
Second Best
Industrial
$91.2K
$79.8K – $106.4K
NOI $6,382 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$355.2K
$310.8K – $414.4K
NOI $24,864 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,744
Businesses Nearby
43k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 55%
Apparel 22%
Dining 20%
Beauty & Spa 3%
Speedway
Shops & Services
12,804 visits/mo
0.4 miles
Goodwill
Apparel
6,449 visits/mo
0.2 miles
7-Eleven
Shops & Services
6,095 visits/mo
0.2 miles
Dunkin' Donuts
Dining
4,315 visits/mo
0.5 miles
Domino's Pizza
Dining
3,167 visits/mo
0.3 miles
Demographics for 02144, MA
25,497
Population
11,881
Households
2.1
Avg Household Size
31
Median Age
75%
College-Educated
96%
High-School Grad
1.1 sq mi
ZIP Area
23,179
Density / Sq Mi
$140,591
Median Household Income
$74,639
Median Earnings
$2,654
Median Rent
$987,000
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Includes a basement level for preparation and storage, with seating for 12 guests.
Where is this conventional restaurant located?
The property is located at 24 College Avenue Somerville, MA.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Approximately 600 SF on the first floor plus an additional 600 SF basement; 12‑seat dining capacity; Basement space supports food preparation and storage
