Property profile

495 Columbia St Somerville, MA 02143

FOR LEASE
Showrooms
Property ID
US38-1834422
336,002 SF 1.15 ac lot Built 2022
Entity Owned 5-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

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.

Property profile

Verified
Property type Showrooms
Use group SHOW ROOM, WAREHOUSE
Year built 2022
Construction STEEL FRAME
Total area 336,002 SF
Lot 1.15 ac (50,095 SF)
Zoning code IP
APN SOME M:96 B:F L:9
UPID US38-1834422

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Auto Repair Shop
  • Corporate Office

Location

495 Columbia St Somerville, MA 02143
Somerville metro Census 351500 BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$9.03M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$8.06M

Owner & transaction history

since 2020
Last sale
$7.4M
7 recorded transactions
2022
Price N/A
2020
$7.4M
2012
$1
2011
Price N/A
2002
Price N/A
2001
Price N/A
1996
$240,000

Zoning & alternative use

IP · Somerville, MA

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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More about this property
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