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Property profile & analytics
OFF-MARKET
Estimated value
$2,310,000
Retail properties & Spaces
393 Highland Ave Somerville, MA 02144-2506
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US38-0454467
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
18,783 SF
Lot
0.44 ac (19,077 SF)
Zoning code
CBD
APN
SOME M:24 B:G L:2
UPID
US38-0454467
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Zipcar Freight Service Logistics Company
-
Naima Oriyane Errass Pharmacy
-
Lonni Larsen Pharmacy
-
Joanne O'leary Pharmacy
-
Joyce Chan Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.31M
Owner & transaction history
393 Highland Avenue LLC · 15 yrs held
393 Highland Avenue LLC
since 2011
7 recorded transactions
Zoning & alternative use
CBD · Somerville, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Somerville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Somerville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$123 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$82,730
Tax year 2024
Assessed value
$4,545,600
Assessed 2024
Previous assessed
$4,545,600
+0.0% YoY
Effective rate
1.82%
On assessed value
Assessed land
$2,103,200
Assessed improvement
$2,442,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Total area
18,783 SF
Lot
0.44 ac (19,077 SF)
Zoning code
CBD
APN
SOME M:24 B:G L:2
UPID
US38-0454467
Jurisdiction
SOMERVILLE
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
CBD · Somerville, MA
Zoning CBD · permitted uses
CBD · Somerville, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Somerville. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Lot
0.44 ac
Current owner
From public records · entity-resolved
393 Highland Avenue LLC
Entity
Mailing address
5 CLAREMON ST #1, SOMERVILLE, MA 02144-2405
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 15, 2024
—
393 Highland Avenue LLC
—
Deed
related
$3,265,000 · Rollstone Bank & Trust
Jan 9, 2019
—
393 Highland Ave LLC
—
Deed
related
$4,500,000 · Rollstone Bk&tr
Mar 23, 2011
$4,720,000
393 Highland Avenue LLC
Acv Skyline Rad 08 LLC
Grant Deed
$3,150,000 · United Bank
Aug 8, 2008
$6,470,000
Acv Skyline Road LLC
Pjc Realty Ma INC
Grant Deed
$72,887,000 · Fortress Credit Corp
Jul 9, 2003
$1
Pjc Rlty Ma INC
P J C Rlty Co INC
Grant Deed
related
—
Jan 25, 2002
$3,109,608
Pjc Rlty Co INC
American Stores Prop
Grant Deed
—
—
—
393 Highland Ave LLC
—
Deed Of Trust
related
$4,500,000 · Rollstone Bk&tr
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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