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

    321 Washington St Somerville, MA 2143

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime Somerville warehouse with high ceilings, loading docks, and heavy power.

    Type:Industrial
    Added:
    Mar 14, 2024
    Days on Market:
    769
    Last Refresh:
    Mar 17 at 1:20 pm

    Property Features for 321 Washington St

    General Information

    Standard status
    Active
    Property subtype
    Industrial

    Building Details

    Year Built
    1939

    Spaces For Lease

    at 321 Washington St Contact us

    We can help!

    Listing Contact
    Nick Dullea

    Listing agent Nick Dullea License #49DU1074980

    Listing office Corbett & Dullea Real Estate

    Listing date Mar 14, 2024

    Source Crexi

    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 Corbett & Dullea Real Estate

    Overview

    Somerville Warehouse Space For Lease

    This Somerville warehouse space is available for lease and features very high ceilings, loading docks, concrete floors, and heavy power. The location is in Somerville, with access to Rt 93. The warehouse space is suitable for many different types of businesses. Divisions of varying sizes are available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Washington Street Art ... Theater & Performing Art Venue Duck Village Art Theater & Performing Art Venue Danielle Makes Crafts Wedding Service

    Suggested Use

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

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

    Similar Places Nearby

    • Your Move Inc — 19 Adrian St, Somerville, MA 02143
    • Prime Storage — 39R Medford St, Somerville, MA 02143
    • Extra Space Storage — 14 McGrath Hwy, Somerville, MA 02143
    • Precision Moving Co — 40 Joy St, Somerville, MA 02143
    • Self-Storage at U-Haul — 151 Linwood St, Somerville, MA 02143

    Location Insight

    • Map
    • Local Demand
    City
    Somerville
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.1009331
    Latitude
    42.3798319

    Nearby Similar for Lease

    • Contact for pricing

      Renovated Office Space in Somerville

      Renovated office/SPA space near Sullivan T-Stop, available now.
      52 Broadway, Somerville, MA 02145
      View Details
    • Sponsored
      Contact for pricing

      MA, Somerville - Somerville Theatre

      49-55 Davis Sq, Unit 3RD, Somerville, MA 02114
      View Details
    • Contact for pricing

      Spaces Davis Square

      240 Elm St, Somerville, MA 02144
      View Details
    • Contact for pricing

      Union Square Commercial Space

      Spacious commercial space in Union Square, Somerville, near MBTA.
      33 1/2 Union #2, Somerville, MA 02143
      View Details
    • Contact for pricing

      Winter Hill Office Space Available

      Second-floor office space with parking, heat, and hot water included.
      324 Broadway #2, Somerville, MA 02145
      View Details
    • Contact for pricing

      Renovated Office Space Available

      Modern, renovated office space in prime location, flexible lease terms.
      2 Lincoln #2, Somerville, MA 02145
      View Details
    • Contact for pricing

      Loft Style Office Space

      Two-story office space near Magoun Square and green line.
      99 Albion St 3, Somerville, MA 02144
      View Details
    • $45/mo

      Davis Square Second-Floor Office Suites

      Office suites for lease in Somerville's creative commercial hub.
      377 Summer St #2, Somerville, MA 02144
      View Details
    • $45/mo

      Davis Square Office Suites Available

      Second-floor office suites in Somerville's vibrant Davis Square.
      377 Summer St #3, Somerville, MA 02144
      View Details
    • $50/mo

      Davis Square Office Spaces Available

      Office suites for lease in the heart of Davis Square.
      377 Summer St C, Somerville, MA 02144
      View Details
    • $45/mo

      Davis Square Second-Floor Office Suites

      Three office suites for lease in Somerville's commercial hub.
      377 Summer St #1, Somerville, MA 02144
      View Details
    • Contact for pricing

      Cambridge Line Retail/Office Space

      First floor plus finished basement near Porter and Harvard Squares.
      292 Beacon #1A, Somerville, MA 02143
      View Details

    FAQs

    What type of property is this?
    Warehouse - Prime Somerville warehouse with high ceilings, loading docks, and heavy power.
    Where is this warehouse located?
    The property is located at 321 Washington St Somerville, MA.
    What are key features of this property?
    This property features: Very high ceilings; Loading docks available; Heavy power for your operational needs
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Nick Dullea
    Real Estate License ID: 49DU1074980
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!