Second-Floor Office
For Sale
Contact for pricing
377 Summer St # 2, Somerville, MA 02144
Three suites offer natural light, elevator access, and shared restrooms in a mixed-use building.
Property Size722 SF
Price / SF$0.06
Days on Market206
Property Features for 377 Summer St # 2
General Information
Standard status
Active
Size
722 SF
Elevators
Yes
Property subtype
Commercial
Zoning
Mixed-Use
Additional Details
Floor
Second Floor
Public Transit
Yes
Office Units
3
Taxes and HOA fees
Annual Taxes
$18
Amenities
natural light
restrooms
janitor's closet
Building Details
Building Size
722 SF
Year Built
2010
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty - Boston
(617) 266-4430
Listed By:
Erika Tarlow · License #9529083
(978) 505-9991
Source:
Churchillprop
Added: Mar 26
Changed: Oct 6
Last Checked: Oct 16 at 6:24AM
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 Coldwell Banker Realty - Boston
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Investment Insights
Based on property information with market context.
This second-floor office offering includes three distinct suites within a mixed-use property. Suite sizes range from 722 SF to 1,583 SF, with layouts spanning open workspace, corner exposure, and a quieter rear-facing configuration. Natural light, elevator service, two shared restrooms, and a janitor’s closet serve the floor. Suite 1 includes concrete floors and frontage along Summer and Cutter, while Suite 3 provides an adaptable open plan along Cutter Avenue.
The property is located at 377 Summer St in Somerville’s Davis Square area, with access through a private building lobby on Cutter Avenue. Rosebud is adjacent, while Davis Square Donuts & Bagels and Community Credit Union occupy anchor positions in the building. The Red Line, shops, dining, and transit are nearby. The property carries Mixed-Use zoning and was built in 2010.
The property is located at 377 Summer St in Somerville’s Davis Square area, with access through a private building lobby on Cutter Avenue. Rosebud is adjacent, while Davis Square Donuts & Bagels and Community Credit Union occupy anchor positions in the building. The Red Line, shops, dining, and transit are nearby. The property carries Mixed-Use zoning and was built in 2010.
Key Highlights
- Three second‑floor office suites measuring 1,583 SF, 722 SF, and 1,082 SF
- Suite 1 fronts Summer and Cutter with corner exposure and concrete floors
- Natural light and elevator access serve each suite
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,909
Suggested Prices Based on Cap Rates
Cap Rate 5%
$458,180
$458.2K
Cap Rate 7%
$327,271
$327.3K
Cap Rate 9%
$254,544
$254.5K
Market Conditions
NOI Build-Up for 722 SF
Gross rent
$39.2K $54.24/SF
− Vacancy
−$8.6K −$11.93/SF
EGI
$30.5K $42.31/SF
− OpEx
−$7.6K −$10.58/SF
NOI
$22.9K $31.73/SF
Area
Middlesex County, MA
Vacancy
22.00%
Lease Rate
$54.24 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$458,180
Cap Rate 7%
$327,271
Cap Rate 9%
$254,544
Alternative Uses
Best Use
Office B
$327.3K
$286.4K – $381.8K
NOI $22,909 @ 7.0% cap · market cap 57,272.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$427.4K
$374.0K – $498.7K
NOI $29,919 @ 7.0% cap · market cap 74,797.50%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,829
Businesses Nearby
Explore this area
Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office units - Three suites offer natural light, elevator access, and shared restrooms in a mixed-use building.
Where is this office units located?
The property is located at 377 Summer St # 2 Somerville, MA.
What are key features of this property?
This property features: Three second‑floor office suites measuring 1,583 SF, 722 SF, and 1,082 SF; Suite 1 fronts Summer and Cutter with corner exposure and concrete floors; Natural light and elevator access serve each suite
