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- LoopNet Team
176 Broadway
Somerville, MA 02145
Land For Sale
·
0.27 AC
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
| Property Type | Land | Total Lot Size | 0.27 AC |
| Property Subtype | Commercial | ||
| Zoning | MR5 | ||
| Property Type | Land |
| Property Subtype | Commercial |
| Total Lot Size | 0.27 AC |
| Zoning | MR5 |
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!
