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    240 Elm St Somerville, MA 2144

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    Sponsored
    For Lease
    Contact for pricing

    Find fully flexible work and meeting space in Spaces Davis Square

    Property size:
    10 SF - 1,292 SF
    Added:
    Feb 19, 2026
    Days on Market:
    40
    Last Refresh:
    Mar 16 at 9:06 am

    Property Features for 240 Elm St

    General Information

    Standard status
    Active
    Property type
    Office properties & Spaces, Coworking space, Flex space, Specialty properties
    Size
    10 SF - 1,292 SF
    Rate Type
    Monthly

    Amenities

    24 Hour Access
    Air Conditioning
    Breakroom
    Business Center
    Close to Public Transportation
    Conference Rooms
    Controlled Access
    Elevator
    Fiber Optic Internet
    Furnished Units Available
    Internet
    Lounge
    Meeting Event Space
    On-Site Security Staff
    Online Services
    Package Service
    Reception
    Recycling
    Storage Space
    Wheelchair Accessible
    Wi-Fi

    Spaces For Lease

    at 240 Elm St Contact us

    Office for 1 $629 /Mo

    Size
    86-538 SF
    Type
    Office
    Set your business up for success with a professional office just for you. Network...
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    Contact us

    Office for 2 $1,259 /Mo

    Size
    108-538 SF
    Type
    Office
    A fully customizable and perfectly sized work environment for two. Network with like-minded...
    show more
    Contact us

    Office for 3 $1,389 /Mo

    Size
    162-646 SF
    Type
    Office
    Office space tailored to three that comes with everything taken care of. Network...
    show more
    Contact us

    Office for 4 $1,849 /Mo

    Size
    215-646 SF
    Type
    Office
    Book a fully serviced office for four, and Spaces will take care of everything else....
    show more
    Contact us

    Office for 5 $2,516 /Mo

    Size
    323-807 SF
    Type
    Office
    Access beautifully designed office spaces created to help teams of five thrive. Network...
    show more
    Contact us

    CW dedicated $235 /Mo

    Size
    86-108 SF
    Type
    Office
    Network with like-minded professionals while taking advantage of 24-hour access,...
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    Contact us

    CW non-reserved $129 /Mo

    Size
    54-108 SF
    Type
    Office
    Network with like-minded professionals while taking advantage of 24-hour access,...
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    Contact us

    Office for +10 $4,627 /Mo

    Size
    484-1184 SF
    Type
    Office
    Find an open-plan office space that’s configured to support teams of 10 employees...
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    Contact us

    Office for +15 $7,096 /Mo

    Size
    1076-1292 SF
    Type
    Office
    Set up an open-plan office space for 15 people with a fully flexible contract that...
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    Contact us

    Virtual office $175 /Mo

    Size
    10-50 SF
    Type
    Office
    Have everything you need to facilitate new connections and build a business presence...
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    Contact us
    Show more

    We can help!

    Listing Contact
    Regus USA
    Regus USA

    Listing agent Regus

    Listing office

    Listing date Feb 19, 2026

    Location Intelligence

    Current Use by Public Records

    Davis Square Architects Architect Coordinai (Bike/Boat/Book/etc) Store Owens Corning Certified ... Roofing Company Echo&Co Marketing & Advertising Black Box Digital ... Marketing & Advertising

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Somerville
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.1219233
    Latitude
    42.3950946

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      Davis Square Second-Floor Office Suites

      Three office suites for lease in Somerville's Davis Square.
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      Unique Loft in Davis Square

      Rare live/work loft with commercial kitchen and private yard.
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      Industrial Warehouse Space For Lease

      12,000 SF industrial warehouse space with convenient highway access.
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      Corner Commercial Space with Basement

      Highly visible Somerville commercial space with basement storage near Tufts.
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      View Details

    FAQs

    What type of property is this?
    Office property - Find fully flexible work and meeting space in Spaces Davis Square
    Where is this office property located?
    The property is located at 240 Elm St Somerville, MA.
    What are key features of this property?
    This property features: Make a home for yourself and your team in a private office, fully serviced and flexible, with everything included; Grow in a modern workplace with the added advantage of a benefits program offering exclusive discounts and bespoke procurement support; Find your own private desk in a beautifully designed shared workspace with 24/7 access, a personal locker, and an inviting reception team
    (972) 764-8885
    We can help!
    Listing Contact
    Regus USA
    Regus USA
    Learn More
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    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
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