Second-Floor Office Suite with
For Sale
Contact for pricing
377 Summer St # 3, Somerville, MA 02144
Second-floor suite with elevator access and natural light, within a shared lobby and common restroom facilities.
Property Size1,082 SF
Price / SF$0.04
Days on Market209
Property Features for 377 Summer St # 3
General Information
Standard status
Active
Size
1,082 SF
Property subtype
Commercial
Zoning
Mixed-Use
Taxes and HOA fees
Annual Taxes
$18
Building Details
Building Size
1,082 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 5:42PM
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 suite is part of a small multi-suite offering with access via a private building lobby on Cutter Ave. The space includes natural light, elevator access, and a shared amenity set featuring two restrooms and a janitor’s closet. Suite 3 is described as a flexible open layout along Cutter Ave.
The building is positioned in Davis Square, Somerville, above established local businesses including Rosebud, Davis Square Donuts & Bagels, and Community Credit Union. The property is referenced as being steps from the Red Line and is surrounded by neighborhood shops and dining.
For tenants or owners evaluating the full building configuration, the remarks also note two additional available suites within the same second-floor level.
The building is positioned in Davis Square, Somerville, above established local businesses including Rosebud, Davis Square Donuts & Bagels, and Community Credit Union. The property is referenced as being steps from the Red Line and is surrounded by neighborhood shops and dining.
For tenants or owners evaluating the full building configuration, the remarks also note two additional available suites within the same second-floor level.
Key Highlights
- Second‑floor commercial space in Davis Square with access via a private building lobby on Cutter Ave
- Elevator access and natural light included for the suites
- 3 suites available: Suite 1 (1,583 SF), Suite 2 (722 SF), Suite 3 (1,082 SF)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,332
Suggested Prices Based on Cap Rates
Cap Rate 5%
$686,640
$686.6K
Cap Rate 7%
$490,457
$490.5K
Cap Rate 9%
$381,467
$381.5K
Market Conditions
NOI Build-Up for 1,082 SF
Gross rent
$58.7K $54.24/SF
− Vacancy
−$12.9K −$11.93/SF
EGI
$45.8K $42.31/SF
− OpEx
−$11.4K −$10.58/SF
NOI
$34.3K $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%
$686,640
Cap Rate 7%
$490,457
Cap Rate 9%
$381,467
Alternative Uses
Best Use
Office B
$490.5K
$429.2K – $572.2K
NOI $34,332 @ 7.0% cap · market cap 85,830.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$640.5K
$560.5K – $747.3K
NOI $44,838 @ 7.0% cap · market cap 112,095.00%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
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 - Second-floor suite with elevator access and natural light, within a shared lobby and common restroom facilities.
Where is this office unit located?
The property is located at 377 Summer St # 3 Somerville, MA.
What are key features of this property?
This property features: Second‑floor commercial space in Davis Square with access via a private building lobby on Cutter Ave; Elevator access and natural light included for the suites; 3 suites available: Suite 1 (1,583 SF), Suite 2 (722 SF), Suite 3 (1,082 SF)
