Somerville Commercial Real Estate

Somerville

Market Report

Number of Listings
Posted in the last 90 days
7
Median Rate ($/sqft/yr)
$48
Median Size (sqft)
2,100

Somerville Rates

Most listings are in the $40's per square foot per year. The Somerville region is going through a a boost in rates. In the last 3 months, the median rate rose $21 per sqft per year. That's a 80% increase in rent.

Compared to the rest of the Greater Boston market, the Somerville submarket has higher rates, and you'll need to make a great offer to be in this hot region.

Somerville Listing Supply

In the last 90 days, 74 listings have come on the market, so you'll want to check back regularly for new listings. About 7% of the available space in the Somerville are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.

The standard measurement for office space in this area is around 2,100 sqft. Most properties in this region are close to 4 stories. Most buildings in this region were built in 1989 and are Class B.

Somerville Community

Market Data

Real time and historical data on commercial real estate listings in Somerville.
Research