Somerville, Massachusetts, offers a unique opportunity for investors to capitalize on the city's growing demand for industrial properties. With a population of approximately 80,000 people, Somerville provides a diverse and educated workforce, making it an attractive location for businesses. Industrial properties in Somerville can represent a range of investments, from manufacturing facilities to warehouses and distribution centers. The city's proximity to Boston and Cambridge, combined with its well-developed transportation system, including the MBTA subway stations and bus routes, make it an ideal location for companies looking to establish a presence in the area. Additionally, Somerville is home to Tufts University, which provides a steady stream of educated and skilled workers. The city's amenities, such as the Somerville Community Path and the Dilboy Stadium, also contribute to its appeal as a place to live and work.
Currently, there are 4 industrial properties for sale in Somerville, offering a range of options for investors. The average price per square foot for these properties is $286 USD, with an average size of 11,872 square feet. The largest property available is 25,000 square feet. In addition to industrial properties, Somerville also offers a range of other property types, including warehouses, land, apartment buildings, and commercial real estate. For example, warehouses in Somerville provide a range of options for businesses looking for storage and distribution space. Land for sale in Somerville offers investors the opportunity to develop their own projects, from residential complexes to commercial buildings. Apartment buildings in Somerville provide a steady stream of rental income, while commercial real estate offers a range of options for businesses looking to establish a presence in the area. Overall, Somerville's diverse range of property types and its strong economy make it an attractive location for investors.
What is the average price per square foot for industrial properties in Somerville?
The average price per square foot for industrial properties in Somerville is $286 USD.
How do location and transportation access affect industrial property values?
Location and transportation access play a significant role in determining industrial property values in Somerville, as proximity to major transportation hubs, highways, and amenities can increase property values and attract businesses.
- Industrial properties near major transportation facilities such as McGrath Highway, Northern Expressway (Interstate 93), and MBTA subway stations like Davis and Assembly stations tend to have higher values due to their accessibility and convenience.
- The availability of bike paths, bus routes, and walkability in Somerville also contributes to higher property values, as businesses and employees value easy access to amenities and a more environmentally friendly commute.
- In Somerville, industrial properties with proximity to amenities like the Somerville Community Path, Dilboy Stadium, and Davis Square's nightlife and entertainment options may also command higher values due to their desirability and potential for increased foot traffic.
