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    Property profile & analytics

    515 Somerville Ave Somerville, MA 02143-3238

    • Hotels
    • 105,810 SF
    • 1.08 lot acres
    OFF-MARKET
    Value Estimations
    $5,695,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0034226
    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

    • Cambria Hotel Boston Somerville / Hotel & Motel
    • Josephine / Restaurant
    • SemaConnect Charging Station / Electric Vehicle Charging Station
    • Blue Bikes / Bike Sharing Station

    Property Details for 515 Somerville Ave

    Year built
    2020
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.08 lot acres
    Property size
    105,810 SF
    Zone code
    BA
    Property type
    Hotels
    APN
    SOME M:52 B:H L:38
    APU
    SOMEM52BHL38

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $8,815,000
      RETAIL STORES
      $7,970,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Somerville
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.1057
    Latitude
    42.3835
    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
    $580,962
    $2,863,100
    $29,057,900
    $31,921,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,850,000
      29,343 SF

      371 Beacon St

      HOTEL • 29,343 SF
      371 Beacon St, Somerville, MA 02143-3538
      View Details
    • Value Estimation
      $6,375,000
      124,638 SF

      30 Washington St

      HOTEL • 124,638 SF
      30 Washington St, Somerville, MA 02143-4446
      View Details
    • Value Estimation by Request

      745 Somerville Ave, Unit P

      RESIDENTIAL PARKING GARAGE
      745 Somerville Ave, Somerville, MA 02143-3581
      View Details
    • Value Estimation by Request

      435 Washington St, Unit P5

      RESIDENTIAL PARKING GARAGE
      435 Washington St, Somerville, MA 02143-4369
      View Details
    • Value Estimation by Request

      292 Beacon St

      OFFICE/RESIDENTIAL (MIXED USE)
      292 Beacon St, Somerville, MA 02143-3510
      View Details
    • Value Estimation by Request
      1.02 Acres

      24-28 Dane St

      INDUSTRIAL (GENERAL) • 1.02 Acres
      24-28 Dane St, Somerville, MA 02143
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      24,657 SF

      Industrial Flex Building For Sale

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      Somerville Avenue Development Opportunity

      22,585 SF development site in Union Square, Somerville, MA.
      273 Somerville Ave, Somerville, MA 02143
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      Union Square Office Space Available

      Class B office building with private offices and roof deck.
      66 Union Sq, Somerville, MA 02143
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      Somerville Development Opportunity

      Prime Somerville location near Union Square, ideal for development.
      282 Mcgrath Hwy, Somerville, MA 02143
      View Details
    • $2,950,000

      Inman Square Retail Opportunity

      Prime Somerville/Cambridge retail building with two units and parking.
      70 Beacon St, Somerville, MA 02143
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    • $850,000
      0.02 Acres

      Historic Somerville Diner for Sale

      Iconic diner, prime location, motivated seller.
      113 Washington St, Somerville, MA 02143
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Somerville Retail Space For Rent

      Retail space available for rent in Somerville, Massachusetts.
      300 Somerville Ave, Somerville, MA 02143
      View Details
    • $10,000 /Mo
      7,000 SF

      Union Square Commercial Space

      Spacious commercial space in Union Square, Somerville, near MBTA.
      33-1/2 Union St, Somerville, MA 02143
      View Details
    • Contact for pricing
      30,590 SF

      Class A Office Space Available

      126,000 SF office space for lease in Somerville, MA.
      455 Grand Union Blvd, Somerville, MA 02143
      View Details
    • $3,500 /Mo

      Cambridge Line Retail/Office Space

      First floor plus finished basement near Porter and Harvard Squares.
      292 Beacon St, Somerville, MA 02143
      View Details
    • $17 SF/Yr
      40,000 SF

      Industrial Warehouse Space For Lease

      12,000 SF industrial warehouse space with convenient highway access.
      41 Innerbelt Rd, Somerville, MA 02143
      View Details
    • Contact for pricing
      4,489 SF

      Somerville Retail Space For Rent

      Retail space available in dynamic mixed-use development near Assembly Row.
      290 Revolution Dr, Somerville, MA 02143
      View Details

    Property Visit Statistics

    • Visits by month
      9.4k
    • Visitors by month
      6.1k
    • Avg Time on site
      435 min
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    515 Somerville Ave
    Somerville, MA 02143-3238
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    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
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