Mixed-Use Building with
For Sale
$2,950,000
55 Elm St, Somerville, MA 02144
Mixed-use building with two retail storefronts and three multifamily units, plus driveway and yard.
Property Size6,290 SF
Price / SF$468
Days on Market144
Property Features for 55 Elm St
General Information
Standard status
Active
Size
6,290 SF
Property subtype
Commercial
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$16,881
Building Details
Year Built
1900
Listing Agency:
RE/MAX Real Estate Center
(413) 333-7776
Listed By:
David Lilley · License #126913
(617) 290-5868
Source:
Ma-cthomes
Added: Jun 4
Changed: Oct 19
Last Checked: Oct 24 at 1:23PM
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 RE/MAX Real Estate Center
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mixed-use property includes a 6,290 SF building with two commercial storefronts and three multifamily units. The residential portion consists of two 1-bedroom units and one 2-bedroom unit. The retail spaces feature back rooms and basement storage, and the layout allows for the potential to combine both storefronts into a single larger space. A driveway and yard are included with the property, and the building will be delivered vacant.
The site is located at a recognizable corner in Somerville, directly across from the Porter Square Shopping Center and the T Stop. The property is described as highly visible and transit-oriented, with significant foot traffic and convenient access to Cambridge, Boston, and surrounding communities.
As presented, the offering is a combined commercial and residential building with multiple storefront-ready spaces and unit variety across the upper levels.
The site is located at a recognizable corner in Somerville, directly across from the Porter Square Shopping Center and the T Stop. The property is described as highly visible and transit-oriented, with significant foot traffic and convenient access to Cambridge, Boston, and surrounding communities.
As presented, the offering is a combined commercial and residential building with multiple storefront-ready spaces and unit variety across the upper levels.
Key Highlights
- 6,290 SF mixed‑use building with two commercial storefronts and a three‑unit multifamily residence
- Multifamily mix includes two 1‑bedroom units and one 2‑bedroom unit
- Two retail storefronts with back rooms and basement storage; potential to combine into one larger space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$133,099
Cap Rate
4.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,661,980
$2.7M
Cap Rate 7%
$1,901,414
$1.9M
Cap Rate 9%
$1,478,878
$1.5M
Market Conditions
NOI Build-Up for 6,290 SF
Gross rent
$200.0K $31.80/SF
− Vacancy
−$9.9K −$1.57/SF
EGI
$190.1K $30.23/SF
− OpEx
−$57.0K −$9.07/SF
NOI
$133.1K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,661,980
Cap Rate 7%
$1,901,414
Cap Rate 9%
$1,478,878
Alternative Uses
Best Use
Multifamily LT 5
$1.90M
$1.66M – $2.22M
NOI $133,099 @ 7.0% cap · market cap 4.51%
Second Best
Apartment 5plus
$1.79M
$1.56M – $2.09M
NOI $125,150 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$3.72M
$3.26M – $4.34M
NOI $260,656 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,660
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with two retail storefronts and three multifamily units, plus driveway and yard.
Where is this mixed-use property located?
The property is located at 55 Elm St Somerville, MA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 6,290 SF mixed‑use building with two commercial storefronts and a three‑unit multifamily residence; Multifamily mix includes two 1‑bedroom units and one 2‑bedroom unit; Two retail storefronts with back rooms and basement storage; potential to combine into one larger space
