495 Columbia St Somerville, MA 02143
- Showrooms
- 336,002 SF
- 1.15 lot acres
Current Use by Public Records
- Somerville Tow / Towing Service
- JURA Bio, Inc. / Biotechnology Company
Property Details for 495 Columbia St
- Year built
- 2022
- Construction
- STEEL FRAME
- Lot size
- 1.15 lot acres
- Property size
- 336,002 SF
- Zone code
- IP
- Property type
- Showrooms
- APN
- SOME M:96 B:F L:9
- APU
- SOMEM96BFL9
Description
This exceptional 1,021 square foot retail space presents a unique cafe opportunity within the vibrant Boynton Gateway development in Somerville, Middlesex County. Located in a dynamic commercial area designed by SGA, this single-tenant space is part of a larger 336,000 square foot development strategically positioned within Somerville's burgeoning life science cluster. The property benefits from its location within a thriving community, offering easy access to a diverse range of amenities including food, bars, entertainment, and conveniences all within walking distance. Boynton Gateway's innovative design seamlessly integrates cutting-edge lab space with dynamic commercial areas and vibrant street-front retail, creating a lively and attractive environment for businesses. This prime location offers unparalleled visibility and accessibility, making it an ideal space for a cafe seeking to establish a strong presence in a rapidly growing and highly sought-after area. The space is ready for immediate occupancy and offers a blank canvas for a creative and successful cafe venture. The surrounding area is characterized by a community of forward-thinking individuals, including creators, foodies, artists, small business owners, and innovators. This presents a significant opportunity to tap into a highly engaged and supportive customer base.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $8,060,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $8,140,000
- 6.5%
- $6,925,000
- 7%
- $7,105,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $6,380,000
- Geo Method
- $6,840,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $8,080,000
- Retail
- $6,945,000
- Mixed-Use
- $8,060,000
- Hospitality
- $6,675,000
- Educational
- $7,015,000
- Residential Income
- $7,860,000
- Energy
- $8,585,000
- Income-Based Land
- $6,495,000
- Food Service
- $7,750,000
Location Insight
- Map
- Local Demand
- City
- Somerville
- County
- Middlesex
- State
- Massachusetts
- Longitude
- -71.0943
- Latitude
- 42.3751
- CBSA code
- 14460
- CBSA name
- BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA
