497 Broadway, Somerville, MA 02145
497 Broadway, Somerville, MA 02145
497 Broadway, Somerville, MA 02145
497 Broadway, Somerville, MA 02145
497 Broadway, Somerville, MA 02145
497 Broadway, Somerville, MA 02145
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
Caitlin Unger

Caitlin Unger

+1(617) 522-2421
$ 3,800,000
Est. payment | /mo

10,660 SqFt

Save
$ 3,800,000
Est. payment | /mo
Save

10,660 SqFt

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 10,660 sqft

Price per Sqft $356

MLS Listing ID 73567685

HOA Y/N false

Year Built 1900

Annual Tax Amount $3,886

Tax Year 2026

Lot Size 1,742 Sqft

Acres 0.04

Property Description

Gibson Commercial is introducing a 7-unit Mixed use property, located at 497 Broadway, Somerville, Ma. Thie property is a generational asset ,with single owner for decades , in Magoun Sq. The mixed-use property consists of 4 residential units and 3 commercial street level units. The property is 100% occupied. The property offers quality stable tenants with potential for additional revenue via market increases, in line with location and local developments in the adjacent area. The building has been impeccably maintained , eliminating capital ex requirements Magoun Sq is a prime location for multifamily and mid-rise investors , in the thriving Somerville market, the area offers an appealing blend of cultural amenities, vibrant entertainment, and convenient transportation options. With its strategic position in this sought-after location, 497 Broadway presents a promising investment prospect for those seeking to capitalize on dynamic appeal and growth potential. Magoun Square is one of Somerville's more understated neighborhood centers. Centered at the convergence of Broadway, Medford Streets, and the nearby Green Line Extension Station, the area blends older multi-family homes, local restaurants, corner businesses, and easy access to neighboring Davis, Ball, Spring Hill, sections of Somerville. It is steps away from bordering Medford. A walkable, transit-connected neighborhood with a low-key local feel. Magoun Square is becoming more connected while keeping a lived-in, local character. The arrival of the MBTA Green Line Extension has made the area much easier to reach by transit, for commuters heading toward Cambridge, downtown Boston, or Tufts, and other Somerville and Medford neighborhoods. The station at Magoun Square adds a major convenience factor, though the neighborhood still retains a quieter rhythm than some of Somerville's better-known squares. The side streets are residential, with a mix of older homes, condominiums, apartments, and multifamily buildings that give the area a familiar Somerville look and feel.

Location

State MA

County Middlesex

Area Magoun Square

Zoning MR4

Direction Magoun Square between Broadway and Dexter St

Exterior

Utilities Available Public Water, Public Sewer

Others

Senior Community false

Listed by Gibson CRE

LOCATION

497 Broadway

GET MORE INFORMATION

Caitlin Unger
Caitlin Unger

Marketing Director

+1(617) 522-2421

Name
Phone*
Message

By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from Arborview Realty Inc, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.

Quick Search