aisellshomes.space

$13,000,000

Active

815 Somerville Ave

Cambridge, MA, 02140

Commercial · MLS #73479802

Days on market

New today

Lot size

0.24 ac

0.24 acres

Lot

About this home

Presenting 815 Somerville Avenue, an exceptional redevelopment opportunity located in the heart of Porter Square, Cambridge, Massachusetts. 815 Somerville Ave is a three-story brick building comprised of 27,824 gross square feet and 18 garage parking spaces. The building is situated on a 10,442 square foot parcel and sits within the Massachusetts Avenue District – a new zoning district that allows up to 12 stories of residential use by-right. The property is located across the street from the MBTA Porter Square Station (Red Line), providing direct access to Harvard, MIT, Kendall Square and Downtown Boston within minutes. Exceptionally located and surrounded by amenities, cultural activities and demand drivers, 815 Somerville Ave presents investors with a multitude of alternative use and value-creation opportunities, including ground up redevelopment for residential use, re-tenanting the existing office space, or utilizing the in-place approvals to retrofit the building for lab/R&D use.

Listed by Christopher Sower · Cushman & Wakefield

Schedule a showing

815 Somerville Ave

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Estimated payment

$84,152 / month

Down payment20% · $2,600,000
Interest rate6.50%

Loan term

Principal & interest
$65,735
Property tax
$13,000
Home insurance
$5,417

Estimate only. Actual payment may vary based on credit, taxes, HOA, and insurance. Tax estimate uses 1.2% of price (MA average).