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$2,700,000
Est. payment /mo
4,628 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 4,628 sqft
Price per Sqft $583
MLS Listing ID 73567686
HOA Y/N false
Year Built 1910
Annual Tax Amount $24,283
Tax Year 2026
Lot Size 4,791 Sqft
Acres 0.11
Property Description
Presenting a prime opportunity for retail investors and developers., 1167 Broadway in Somerville, MA offers a 9,358 SF, five-unit commercial building with immense potential. Built in 1910 (Public records), this property features 40% occupancy, providing immediate income and significant room for growth. Boasting 4,628 SF of street-level space suitable for retail or office use. Situated on a 4,910 sq ft lot and MR4 zoning it also holds promise for redevelopment, presenting a compelling chance for potential NOI growth. With its strategic positioning in the Somerville area, this property is an enticing prospect for investors seeking a lucrative addition to their commercial real estate portfolio. Situated in the Tufts-Teele Sq and Davis Sq triangle This bustling area is a magnet for retail investors and developers, with a diverse mix of local businesses, trendy restaurants, and boutique shops contributing to the dynamic commercial landscape. ,The location offers unparalleled access to Educational, cultural attractions and entertainment hotspots, making it an ideal investment opportunity. With its prime positioning and strong community appeal, 1167 Broadway presents an exciting prospect for investors seeking to tap into this coveted area. Its current zoning of MR4 allows for vertical mixed-use development which is in large demand and encouraged in this area.
Location
State MA
County Middlesex
Zoning MR4
Direction Corner of Broadway and Hill St. Just off Teele Square
Exterior
Utilities Available Public Water, Public Sewer
Others
Senior Community false
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Listed by Gibson CRE
NEARBY SCHOOL & BUSINESS
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