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Financial
Distress signals
Property profile

377 Summer St 3 Somerville, MA 02144

FOR LEASE
Other investment properties
Property ID
US38-1323250
16,540 SF 0.18 ac lot Built 2010
Last sale Aug 2009 · $1
Entity Owned Owner of record is a legal entity (LLC / corporation). 17-yr Hold Held for 17 years. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

This multi-suite second-floor commercial property is located in Somerville’s Cutter Avenue area, accessible via a private building lobby. The building provides three leasable suites with elevator access and open-layout spaces, all featuring natural light. Shared amenities include two restrooms and a janitor’s closet. Suite 1 comprises 1,583 square feet with corner exposure and concrete floors. Suite 2 comprises 722 square feet with rear-facing exposure. Suite 3 comprises 1,082 square feet with…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax

What does the county charge?
Assessed value · 2024$4.20M
Assessed land$1.28M
Assessed improvement$2.92M

Value estimate

· Oct 2026
$2.33M
$2.09M – $2.56M
NOI build-up
Gross scheduled income$59k
Vacancy & credit loss−$13k
Operating expenses−$11k
NOI · 62,421.82% cap applied$34k

Realmo valuation models over county records and 11 qualifying comparable sales.

Recently sold

What actually traded nearby?
$421/SF
Submarket average, outlier-cleaned · 55 recorded sales of this use type
Observed band · Q1–Q3$237 – $624
Qualifying comparables11

Cap rate analysis

How does the asset earn?
62,421.82%
$34k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
CBD
JurisdictionSOMERVILLE

Location intelligence

Which uses thrive at this corner?
Best fit: Law Firm
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Law Firm35.4
Nail Salon25.1
Wholesale Shop21.6

Location

377 Summer St, Unit 3 Somerville, MA 02144
County assessor Recorded deeds · 3 transfers 11 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 12 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
741 Broadway, Somerville, MA 02144-2103 $1,400,000 Jan 2024 4,774 SF
53 Chester, Somerville, MA 02144-3059 $1,350,000 Jan 2023 2,592 SF
361 Highland, Somerville, MA 02144-2585 $1,590,000 Sep 2022 No data
787 Broadway, Somerville, MA 02144-2096 $1,491,319 Nov 2020 3,492 SF
872 Broadway, Somerville, MA 02144-1905 $1,500,000 Oct 2020 9,269 SF
327 Highland, Somerville, MA 02144-3138 $1,250,000 Apr 2019 3,208 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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