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176 Broadway

0.27 Acres of Commercial Land Offered at £3,608,208 in Somerville, MA 02145

Investment Highlights

  • POTENTIAL FIVE STORY MIXED USE DEVELOPMENT PROJECT
  • TYPICAL CONSTRUCTION WILL ALLOW UP TO 28 UNITS and approx 31,970 gross sq ft of building
  • Includes 2 parcels w/ over 11,000 sq ft of land, being sold as a package
  • Potential to build 28-37 units.

Property Facts

Price £3,608,208
Sale Type Investment
No. Lots 1
Property Type Land
Property Subtype Commercial
Total Lot Size 0.27 AC

1 Lot Available

Lot

Price £3,608,208
Price Per AC £13,363,732
Lot Size 0.27 AC

POTENTIAL 5 STORY MIXED USE DEVELOPMENT PROJECT. Includes 2 parcels w/ over 11,000 sqft of land, being sold as a package. ZONED MR5. Potential buildout w/ TYPICAL CONSTRUCTION WILL ALLOW UP TO 28 UNITS and approx 31,970 gross sqft of building.

Description

POTENTIAL FIVE STORY MIXED USE DEVELOPMENT PROJECT. Includes 2 parcels w/ over 11,000 sq ft of land, being sold as a package. ZONED MR5. Potential buildout w/ TYPICAL CONSTRUCTION WILL ALLOW UP TO 28 UNITS and approx 31,970 gross sq ft of building and approx 1,125 average per unit size OR building as a NET ZERO BUILDING...YOU CAN PUT UP TO 37 MAXIMUM UNITS with approx 577 sq ft more or less. Addtnl COMMERCIAL SPACE OF UP TO 5000 SQ FT is allowed. One parking space required per unit...there is enough for up to 23 spaces on site. Special permit for relief regarding parking needed to achieve maximum number of units. SELLER WILL WAIT FOR BUYER TO RECEIVE PROJECT APPROVALS BEFORE CLOSING. Buyer responsible for all fees incl but not limited to architects fees, attorney fees etc necessary to obtain approvals. Affordable requirement for City of Somerville is 20%. GREAT LOCATION rated a WALKER'S PARADISE SCORE OF 95. Insanely convenient...UNDER A MILE TO GREEN AND ORANGE LINE SUBWAY STOPS!

Walk Score ®
Walker's Paradise (93)
Transit Score ®
Excellent Transit (84)
Bike Score ®
Very Bikeable (88)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
SOME-000090-C000000-000003
Land Assessment
£285,801
Improvements Assessment
£667,234
Total Assessment
£953,035

zoning

Zoning Code MR5
MR5
  • Listing ID: 31902918

  • Date on Market: 23/05/2024

  • Last Updated:

  • Address: 176 Broadway, Somerville, MA 02145

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