DEVELOPABLE 5 STORY MIXED USE PROJECT WITH UP TO 37 UNITS. Incl 2 parcels w/ over 11,000 sq ft of lnd, 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. Specital 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!
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Last Updated: October 8th, 2024 at 8:23am
Highway Access
Public Transportation
T-station
University
General Information for 176-182 Broadway, Somerville, Massachusetts 02145
Property TypeLand
Property Sub TypeLand
Price$4,599,900
MLS #73287760
Handicap Access / FeaturesNo
List Date2024-09-10
Special Listing ConditionsNo
StateMassachusetts
Street NameBroadway
CitySomerville
Zip Code02145
CountyMiddlesex
MLS StatusActive
AssociationNo
Heat Zones
Sold Date
Property Sub TypeLand
AdditionalParcelsYNNo
AvailabilityDate
Close Date
Close Price$0
Gas
Listing Service
UnparsedAddress176-182 Broadway, Somerville MA 02145
ZoningMR5
Interior Features for 176-182 Broadway, Somerville, Massachusetts 02145
ElectricOn-site
ElectricYes
Electric$0
Electric on PropertyNo
MLS Area (Major)
OffMarketDate
Exterior Features for 176-182 Broadway, Somerville, Massachusetts 02145
* Approximate Lot Size0.27 acres
Lot FeaturesLevel
* Parking Spaces
* Sewer UtilitiesPublic Sewer
* Water UtilitiesPublic
Approx. Street Frontage
Parking FeaturesNo
Utilities
Cultivated Area
FarmLandAreaUnits
Lot Size (Square Feet)11,778 Sqft
MLSPIN_PERC_TEST
MLSPIN_PERC_TEST_DATE
PastureArea
Wooded Area
Disclosures for 176-182 Broadway, Somerville, Massachusetts 02145
Buyer Agent Compensation2.125
Contingency
FinancingNo
Disclosures
Documents AvailableNo
MLSPIN_COMP_BASED_ON
MLSPIN_COOP_COMP
MLSPIN_DISCLOSUREN
Lead PaintUnknown
Facilitator Compensation2.125
TransactionBrokerCompensationType
BuyerAgencyCompensationType
Financial Information for 176-182 Broadway, Somerville, Massachusetts 02145
Association Fee$0
Association Fee Frequency
Associaton Fee IncludesNo
AssociationNo
Assessed Value$1,772,400
Real Estate Tax$11,579
Tax Year2022
OriginalListPrice$4,599,900
Lifestyle Information for 176-182 Broadway, Somerville, Massachusetts 02145
Association AmenitiesNo
Frontage Type
GarageYNNo
WaterviewNo
Waterfront FeaturesNo
Location information for 176-182 Broadway, Somerville, Massachusetts 02145
Elementary School
High School
NumberOfLots
Marketing History for 176-182 Broadway, Somerville, Massachusetts 02145
MLSPIN_MARKET_TIME_BROKER108
MLSPIN_MARKET_TIME_PROPERTY108
PurchaseContractDate
Agent Information for 176-182 Broadway, Somerville, Massachusetts 02145