Second-Floor Office Suites with
For Sale
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377 Summer St, Somerville, MA 02144
Three second-floor office suites with elevator access and natural light, served by shared restrooms and a janitor’s closet.
Property Size3,387 SF
Price / SF$0.01
Days on Market210
Property Features for 377 Summer St
General Information
Standard status
Active
Size
3,387 SF
Property subtype
Commercial
Zoning
Mixed-Use
Lease Type
NNN
Taxes and HOA fees
Annual Taxes
$18
Building Details
Building Size
3,387 SF
Year Built
2010
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 20 at 6:12PM
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 space offers three individual suites accessible through a private building lobby on Cutter Ave. The suites include natural light and elevator access, with a shared amenity offering two restrooms and a janitor’s closet. Suite 1 fronts Summer and Cutter, with standout corner exposure and concrete floors. Suite 2 is a rear-facing suite with quiet character and excellent light. Suite 3 provides a flexible open layout along Cutter Ave.
The building is positioned above Rosebud, Davis Square Donuts & Bagels, and Community Credit Union in Somerville’s Davis Square area, placing the suites within a dense mix of neighborhood businesses.
Each suite is configured for standalone occupancy while sharing the common restrooms and janitor’s closet, supporting a range of office uses.
The building is positioned above Rosebud, Davis Square Donuts & Bagels, and Community Credit Union in Somerville’s Davis Square area, placing the suites within a dense mix of neighborhood businesses.
Each suite is configured for standalone occupancy while sharing the common restrooms and janitor’s closet, supporting a range of office uses.
Key Highlights
- 2010‑built commercial property with three second‑floor office suites
- Private building lobby access off Cutter Ave with elevator service to the second floor
- Each suite offers natural light and shared facilities, including two restrooms and a janitor’s closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$107,471
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,149,420
$2.1M
Cap Rate 7%
$1,535,300
$1.5M
Cap Rate 9%
$1,194,122
$1.2M
Market Conditions
NOI Build-Up for 3,387 SF
Gross rent
$183.7K $54.24/SF
− Vacancy
−$40.4K −$11.93/SF
EGI
$143.3K $42.31/SF
− OpEx
−$35.8K −$10.58/SF
NOI
$107.5K $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%
$2,149,420
Cap Rate 7%
$1,535,300
Cap Rate 9%
$1,194,122
Alternative Uses
Best Use
Office B
$1.54M
$1.34M – $1.79M
NOI $107,471 @ 7.0% cap · market cap 268,677.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.01M
$1.75M – $2.34M
NOI $140,356 @ 7.0% cap · market cap 350,890.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
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 unit - Three second-floor office suites with elevator access and natural light, served by shared restrooms and a janitor’s closet.
Where is this office unit located?
The property is located at 377 Summer St Somerville, MA.
What are key features of this property?
This property features: 2010‑built commercial property with three second‑floor office suites; Private building lobby access off Cutter Ave with elevator service to the second floor; Each suite offers natural light and shared facilities, including two restrooms and a janitor’s closet
