Multi-Office Suite with Conference
New
For Sale
Contact for pricing
403 Highland Ave. Unit 204/206, Somerville, MA 02144
A second-floor layout combines open workspace, private offices, shared facilities, and a separate conference room.
Property Size2,364 SF
Price / SF$2.50
Days on Market5
Property Features for 403 Highland Ave. Unit 204/206
General Information
Standard status
Active
Size
2,364 SF
Property subtype
Commercial
Space & Availability
Floor
2
Condition
Move-in Ready
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Office Units
1
Property Use
Office
Amenities
common area with cabinets/counter & small refrigerator
conference room
abundant natural light
5G wireless cable access
Building Details
Year Built
1900
Listing Agency:
C. Brendan Noonan & Co.
(617) 868-3200
Listed By:
C. Brendan Noonan
(617) 959-1340
Source:
Lockandkeyre
Added: Oct 27
Changed: Oct 30
Last Checked: Oct 30 at 3:12PM
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 C. Brendan Noonan & Co.
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Investment Insights
Based on property information with market context.
The second-floor office suite at 403 Highland Ave. encompasses 2,364 square feet, with an open work area and storage closet, three private offices, and a conference room across the hall. A shared common area includes cabinets, a counter, and a small refrigerator. Windows are distributed throughout the space, and the suite is accessed by stairs from street level. The layout may be subdivided, and 5G wireless cable access is available. Utilities are separately metered.
The property is in Davis Square, with access to the MBTA Red Line station. Porter Square, Harvard Square, and Boston are also identified as accessible from this location. On-site parking is available for lease, and metered street parking is available nearby.
The property is in Davis Square, with access to the MBTA Red Line station. Porter Square, Harvard Square, and Boston are also identified as accessible from this location. On-site parking is available for lease, and metered street parking is available nearby.
Key Highlights
- 2,364 SF second‑floor office suite
- Three private offices, an open work area, and a storage closet
- Separate conference room across the hall
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,011
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,500,220
$1.5M
Cap Rate 7%
$1,071,586
$1.1M
Cap Rate 9%
$833,456
$833.5K
Market Conditions
NOI Build-Up for 2,364 SF
Gross rent
$128.2K $54.24/SF
− Vacancy
−$28.2K −$11.93/SF
EGI
$100.0K $42.31/SF
− OpEx
−$25.0K −$10.58/SF
NOI
$75.0K $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%
$1,500,220
Cap Rate 7%
$1,071,586
Cap Rate 9%
$833,456
Alternative Uses
Best Use
Office B
$1.07M
$937.6K – $1.25M
NOI $75,011 @ 7.0% cap · market cap 1,271.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,964 @ 7.0% cap · market cap 1,660.41%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Office units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,752
Businesses Nearby
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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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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - A second-floor layout combines open workspace, private offices, shared facilities, and a separate conference room.
Where is this office unit located?
The property is located at 403 Highland Ave. Unit 204/206 Somerville, MA.
What are key features of this property?
This property features: 2,364 SF second‑floor office suite; Three private offices, an open work area, and a storage closet; Separate conference room across the hall
