Flexible Mixed-use Development Opportunity in Magoun Square

USD $1,150,000
496 Medford Street, Somerville, Massachusetts, 02145, USA

Property Highlights

  • Close to Green Line Extension transit
  • MR-4 zoning with Pedestrian Street Overlay
  • Up to 4-story mixed-use development allowed
  • No parking requirements
  • Flexible design standards for walkability
  • Suitable for retail or amenities on ground floor

Overview

Prime TOD opportunity in Somerville’s vibrant Magoun Square, steps from the Green Line Extension. This 2,240 SF MR-4 zoned lot with Pedestrian Street Overlay allows up to 4 stories—ideal for a mixed-use project with approx. 6 residential units above ground-floor commercial or amenity space. No parking requirements and flexible design standards support a walkable, transit-friendly concept aligned with the city’s smart growth vision. The lot’s dimensions allow for modern condo or townhouse-style layouts. Ground floor and basement are well-suited for retail, amenities, or storage, maximizing value and livability. Zoning analysis completed—developers can move quickly to design and permitting. A rare blend of timing, location, and zoning flexibility in one of Greater Boston’s most in-demand neighborhoods. Strong market comps, buyer demand, and local precedent make this a standout infill opportunity.
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Property Features

496 Medford Street, Somerville, Massachusetts, 02145, USA offers the following features:

Bedrooms: 2
Bathrooms: 1 Full | 1 Half
Living Area: 1244sf
Property Type: Residential
Status: Active
Reference ID: 73436389

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