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    Property profile & analytics

    508 Somerville Ave Somerville, MA 02143-3359

    • Investment properties
    • 7,472 SF
    • 0.16 lot acres
    OFF-MARKET
    Value Estimation
    $1,235,000
    Last Sale
    Jun 26, 2024
    $1,245,000
    Location Intelligence
    Property ID
    US38-2295394
    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

    • Wagner Floral Designs / Florist / Flower Delivery

    Property Details for 508 Somerville Ave

    Year built
    2015
    Construction
    FRAME
    Lot size
    0.16 lot acres
    Property size
    7,472 SF
    Zone code
    BA
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    SOME M:53 B:A L:5
    APU
    SOMEM53BAL5

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $1,245,000

    • CAP approach

      CAP return
      Estimation
      6%
      $1,285,000
      6.5%
      $1,230,000
      7%
      $1,295,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $1,180,000
      Geo Method
      $1,170,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $1,080,000
      Retail
      $1,375,000
      Mixed-Use
      $1,090,000
      Hospitality
      $1,180,000
      Educational
      $1,045,000
      Residential Income
      $1,255,000
      Energy
      $1,430,000
      Income-Based Land
      $1,240,000
      Food Service
      $1,315,000

    Location Insight

    • Map
    • Local Demand
    City
    Somerville
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.1056
    Latitude
    42.3828
    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
    2016
    $8,484
    $643,000
    $849,900
    $1,492,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      3,296 SF

      247 Highland Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,296 SF
      247 Highland Ave, Somerville, MA 02143-1310
      View Details
    • Value Estimation by Request
      2,800 SF

      90 Highland Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,800 SF
      90 Highland Ave, Somerville, MA 02143-1725
      View Details
    • Value Estimation by Request
      8,415 SF

      669 Somerville Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 8,415 SF
      669 Somerville Ave, Somerville, MA 02143-3235
      View Details
    • Value Estimation by Request
      7,558 SF

      16 Un Sq

      OFFICE/RESIDENTIAL (MIXED USE) • 7,558 SF
      16 Un Sq, Somerville, MA 02143
      View Details
    • Value Estimation by Request
      6,391 SF

      182 Washington St

      OFFICE/RESIDENTIAL (MIXED USE) • 6,391 SF
      182 Washington St, Somerville, MA 02143-3129
      View Details
    • Value Estimation by Request
      3,588 SF

      21 Bow St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,588 SF
      21 Bow St, Somerville, MA 02143-2933
      View Details

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    • New
      $1,125,000
      2,205 SF

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    Similar Nearby for Lease

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      5,667 SF

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      Office, retail, fitness, and entertainment spaces for rent in Somerville.
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    • $1,250 /Mo

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      Office space for lease in Davis Square, Somerville.
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    • Contact for pricing
      3,000 SF

      Somerville Office Sublease Opportunity

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      View Details
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    508 Somerville Ave
    Somerville, MA 02143-3359
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    Realmo Value Estimation

    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.

    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.

    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
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