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49-55 Davis Square, Somerville, MA, 02144 | $12,000,000
Rare Portfolio Offering: 49–55 Davis Square is part of a three-building portfolio for sale, which also includes 202–218 Massachusetts Avenue in Arlington and 36 College Avenue in Somerville. A landmark in the heart of Davis Square, the iconic Somerville Theatre building offers approximately 47, 566 +/- SF of mixed-use space with a rich history dating back to 1914. Anchored by the renowned Somerville Theatre and the restored Crystal Ballroom, the property is a premier entertainment destination featuring a 900-seat theater, a 500-capacity live event venue, a long-term restaurant tenant, and a fully leased, recently renovated 7, 500 SF office suite. Meticulously preserved and modernized over four decades of ownership, this rare investment opportunity combines historic character, significant capital improvements, diversified income streams, and an irreplaceable presence in one of Greater Boston's most vibrant commercial districts. PLEASE SEE FIRM REMARKS FOR ADDITIONAL INFORMATION
Features
- Zoning: CC3
- Year Built: 1914
- Approx Sq. Feet: 36,400
- Acreage: 0.32
- Est. Taxes: $130,457
- MLS#: 73546206
- Website: https://www.raveis.com
/prop/73546206/4955davissquare_somerville_ma?source=qrflyer
Listing by Carl Christie courtesy of Carl Christie
Room Information
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| Laundry |
William Raveis Family of Services
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Customer Service
888.699.8876
Contact@raveis.com
Our family of companies offer our clients a new level of full-service real estate. We shall:
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To learn more about our credentials, visit raveis.com today.
Kate RockettRVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 1500191
617.281.4872
Kate.Rockett@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Paul BerriosRegional SVP, Insurance Sales Producer, William Raveis Insurance
978-337-3053
Paul.Berrios@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
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Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
49-55 Davis Square, Somerville, MA, 02144
$12,000,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Kate Rockett
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 617.281.4872
Kate.Rockett@raveis.com
NMLS Mortgage Loan Originator ID 1500191
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $9,600,000 | $9,600,000 | $9,600,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.000% | 5.875% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.165% | 6.157% | 6.137% |
| Monthly Tax Payment | $10,871 | $10,871 | $10,871 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $54,508 | $57,557 | $80,363 |
| Total Monthly Payment | $65,504 | $68,553 | $91,359 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
MA Mortgage Lender and Mortgage Broker #MC2630