97 Gilman St
Somerville, MA 02145
Property For Lease · 9,235 SF

This is a 6 unit de-leaded apartment building with 2 parking spaces on the driveway. All apartments are occupied under Tenancy at Will. Each apartment has a new hot water heaters, separate gas and electric meters, refrigerators and gas stoves. The majority of the apartments have new gas heating systems. The roof is only four years old and has a 30-year warranty. All 6 porches are only 5 years old. The Green Line Project in Somerville, MA has received support from the City of Cambridge and the Federal Grant has also been approved. The project is aggressively running to be completed before 2020. My building is a 3 minute walk from the planned Gilman Square T-station. Therefore, rent is going to increase and the projected minimum income for 10 years for the building is approximately $2,055,600 without experience and expertise. Also, the building has a 2 car parking space, which will generate approximately $60,000 rent in the 10 years. The basement can also be refurbished into two 2-bedroom apartments. This will generate approximately $480,000 rent in the 10 years. The approximate total income for the building in the 10 years will be $2,595,600. 97 Gilman Street, Somerville, Massachusetts 02145 is a five minute walk from the Somerville Public Library, high school, city hall and the Gilman Square station (Green Line extension project). Nearby schools include Somerville High School, Full Circle High School, Next Wave Junior High School, Winter Hill Community School, Cummings School, East Somerville Community School and Edgerly Education Center. The closest grocery stores are Pearl Street Market, Taj Mahal Desi Bazaar, El Valle de la Sultana Market, Stop and Shop, Market Basket and Shaws. Nearby coffee shops include Dunkin' Donuts and Ola Cafe. Nearby various restaurants such as pizzerias, Italian, Mexican and Indian, Some 'Ting Nice Caribbean Restaurant including high end Italian and Inter Continental. 97 Gilman St is near Central Hill Memorial Park, Prospect Hill Park and Foss Park. Walking distance from the District Court, Assembly Row, fire station, dry cleaners, Rite Aid, Walgreens, Post Office, Cambridge Health Alliance, 3 banks, Walnut Street park and public library park. Conveniently near the MBTA - bus stops, Red Line, Green Line and the Orange Line.