161 BroadwaySomerville, MA 02145

Property Details for 161 Broadway

Year built

1924

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.30 AC

Property size (Sq ft)

11,640 SF

Zone code

BA

Property type

Auto shops

APN

SOME M:89 B:K L:12

APU

SOMEM89BKL12

Description

This exceptional property at 161 Broadway in Somerville, Massachusetts, offers a versatile warehouse/garage space ideal for a variety of businesses. Located in Middlesex County, zip code 02145, this single-tenancy property presents a unique opportunity. The primary space is designed as a warehouse, perfect for storage, light manufacturing, or distribution. The flexible layout allows for customization to meet specific operational needs. A significant advantage is the option to include office space, providing a seamless integration of administrative functions within the same building. This eliminates the need for separate office leases and streamlines operations. The property's location in Somerville offers convenient access to major transportation routes, facilitating efficient logistics and distribution. The building is well-maintained and ready for immediate occupancy. This is an excellent opportunity for businesses seeking a functional and adaptable space in a prime Somerville location. The property is classified as both Office and Industrial, offering a blend of uses within a single building. Interested parties are encouraged to inquire for further details and to schedule a viewing. The property's latitude and longitude coordinates are 42.3887569 and -71.0852942 respectively.

• CAP approach

  CAP return

  Valuation

  6%

  $2,828,926

  6.5%

  $2,611,316

  7%

  $2,424,794

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,832,624

  Geo Method

  $3,832,624

• Alternative Use

  Use

  Valuation

  Residential

  $2,202,743

  Hospitality

  $2,017,701

  Educational

  $1,678,704

  Medical

  $1,736,437

  Retail

  $2,611,316

Location Insight

City

Somerville

County

Middlesex

State

Massachusetts

Latitude

42.3888

Longitude

-71.0853

CBSA code

14460

CBSA name

BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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