Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    374 Highland Ave Somerville, MA 02144-2508

    • Office buildings
    • 1,643 SF
    • 0.07 lot acres
    OFF-MARKET
    Value Estimations
    $560,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0736944
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Alcove Realty / Real Estate Agency

    Property Details for 374 Highland Ave

    Year built
    1920
    Construction
    FRAME
    Lot size
    0.07 lot acres
    Property size
    1,643 SF
    Zone code
    NB
    Property type
    Office buildings
    APN
    SOME M:25 B:B L:3
    APU
    SOMEM25BBL3

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $360,000
      Current use
      COMMERCIAL (GENERAL)
      $690,000
      Change: +92% Conversion: Easy
      AUTO REPAIR, GARAGE
      $460,000
      Change: +29% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $455,000
      Change: +27% Conversion: Difficult
      RETAIL STORES
      $445,000
      Change: +23% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Somerville
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.119
    Latitude
    42.3948
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $10,501
    $417,300
    $159,700
    $577,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $870,000
      2,669 SF

      11 Curtis Ave

      OFFICE BUILDING • 2,669 SF
      11 Curtis Ave, Somerville, MA 02144-1224
      View Details
    • Value Estimation
      $1,040,000
      3,417 SF

      114 Curtis St

      OFFICE BUILDING • 3,417 SF
      114 Curtis St, Somerville, MA 02144-1243
      View Details
    • Value Estimation
      $2,300,000
      8,096 SF

      115 Willow Ave

      OFFICE BUILDING • 8,096 SF
      115 Willow Ave, Somerville, MA 02144-2528
      View Details
    • Value Estimation
      $10,235,000
      37,836 SF

      196 Boston Ave

      OFFICE BUILDING • 37,836 SF
      196 Boston Ave, Somerville, MA 02144
      View Details
    • Value Estimation
      $13,785,000
      51,347 SF

      1 Davis Sq

      OFFICE BUILDING • 51,347 SF
      1 Davis Sq, Somerville, MA 02144-2904
      View Details
    • Value Estimation
      $1,225,000
      4,011 SF

      777 Broadway

      OFFICE BUILDING • 4,011 SF
      777 Broadway, Somerville, MA 02144
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,670 SF

      Somerville Retail Space Opportunity

      Commercial space in mixed-use building with public and private outdoor spaces.
      1060 Broadway St, Somerville, MA 02144
      View Details
    • $3,450,000

      Porter Square Development Site Opportunity

      8,315 SF MR4-zoned development site near Porter Square MBTA.
      32-40 White St, Somerville, MA 02144
      View Details
    • $1,299,000

      Somerville Two-Family Home

      Two-family home near public transportation and amenities.
      114 Cedar St, Somerville, MA 02144
      View Details
    • $875,000

      Mansard Victorian Two-Family Home

      Two-family home in Porter Square, delivered vacant, needs modernization.
      12 Mossland St, Somerville, MA 02144
      View Details
    • $5,600,000
      0.19 Acres

      Somerville Industrial Building - Huge Potential

      Prime Somerville location, versatile 8,096 SF building.
      115 Willow Ave, Somerville, MA 02144
      View Details
    • $1,750,000

      Well-Maintained Two-Family in Davis Square

      Two-family home near Davis and Porter Squares with great rental potential.
      18-20 Windom St, Somerville, MA 02144
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      18,921 SF

      Davis Square Office Building

      First-class office building near MBTA Red Line Station.
      212 Elm St, Somerville, MA 02144
      View Details
    • $55 SF/Yr
      1,082 SF

      Davis Square Second-Floor Office Suites

      Three office suites available in Somerville's vibrant Davis Square.
      377 Summer St, Somerville, MA 02144
      View Details
    • $55 SF/Yr
      3,387 SF

      Davis Square Second-Floor Office Suites

      Three office suites for lease in Somerville's Davis Square.
      377 Summer St, Somerville, MA 02144
      View Details
    • $55 SF/Yr
      722 SF

      Davis Square Second-Floor Office Suites

      Three office suites for lease in Somerville's commercial hub.
      377 Summer St, Somerville, MA 02144
      View Details
    • $35 SF/Yr
      1,583 SF

      Davis Square New Office Space

      New office space in a prime, thriving Davis Square location.
      377 Summer St, Somerville, MA 02144
      View Details
    • Contact for pricing
      3,618 SF

      Davis Square Office Space

      Office space for lease in the heart of Davis Square.
      261 Elm St, Somerville, MA 02144
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    374 Highland Ave
    Somerville, MA 02144-2508
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.