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Property profile & analytics
FOR LEASE
Showrooms
599 Somerville Ave Somerville, MA 02143
Entity Owned
6-yr Hold
Free & Clear
Property ID
US38-1308590
For Lease
1 / 2
$5,595,000
599 Somerville Ave, Somerville, MA 02143
View Listing →
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
2023
Construction
STEEL FRAME
Total area
40,766 SF
Lot
0.47 ac (20,588 SF)
Zoning code
BA
APN
SOME M:44 B:I L:7
UPID
US38-1308590
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.60M
Owner & transaction history
599 Somerville Ventures · 6 yrs held
599 Somerville Ventures
since 2020
7 recorded transactions
Zoning & alternative use
BA · 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
$137 / 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
$201,079
Tax year 2024
Assessed value
$11,048,300
Assessed 2024
Previous assessed
$1,184,400
+832.8% YoY
Effective rate
1.82%
On assessed value
Assessed land
$6,419,100
Assessed improvement
$4,629,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
For Lease
Year built
2023
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
3
Units
1
Rooms
20
Total area
40,766 SF
Lot
0.47 ac (20,588 SF)
Zoning code
BA
APN
SOME M:44 B:I L:7
UPID
US38-1308590
Jurisdiction
SOMERVILLE
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
BA · Somerville, MA
Zoning BA · permitted uses
BA · 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
2023
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
1
Units
1
Rooms
20
Lot
0.47 ac
Current owner
From public records · entity-resolved
599 Somerville Ventures
Entity
Free & Clear · 6 yrs held
Mailing address
PO BOX 961869, BOSTON, MA 02196-1869
Ownership since
2020
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
Jan 23, 2020
$5,680,000
599 Somerville Ventures
Laronga Realty Ptnshp
Quit Claim Deed
—
Jun 20, 2006
—
Laronga Realty Ptnshp
—
Deed Of Trust
related
$900,000 · Sovereign Bank
Apr 21, 2004
—
Laronga RT Prtnrshp
—
Deed Of Trust
related
$202,979 · Citizens Bank Of Ma
Jan 10, 2000
—
Laronga Rlty Ptnshp
—
Deed Of Trust
related
$635,000 · Us Trust Middlesex
Dec 23, 1993
—
Louis Ronga
—
Deed Of Trust
related
$25,000 · Somerville City
Jan 16, 1991
—
Laronga Rlty Prtnrshp
—
Deed Of Trust
related
$154,750 · L&m T
May 13, 1987
—
Laronga Realty Ptnrshp
—
Deed Of Trust
related
$610,000 · Century Bank & Trust Co
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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