A Rare Real Estate Investment Opportunity to purchase this parcel in hot Union Square of Somerville. Located across the street from the GreentownLab. The building can be used as: Marijuana Cultivation, Shared Office Space, Daycare, Catering,The parcel is zoned flex / fabrication office.The parcel contains approximately 5,000 sqft. Suitable for architect firm, engineers, scientists, innovators, creative professionals. Zoning allows 4 stories that could be built up between 12,000 to 16,000 sqft. See attached zoning page. Performa (commercial): $35 to 40 sqft triple net, 16,000 x $35= $560,000 triple net revenue yearly. A 5% cap gives an appraised value north of $11M, cost to build $300 per sqft $4.8M. Owner also believes that approximately 10,000 of residential use is also feasible with five units condo or rental. Also suitable for 40B project. See attached rendering.
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