Marcus & Millichap sells downtown Somerville mixed-use property for $4.2M

Marcus & Millichap on Friday announced it sold a 17,600-square-foot mixed-use building in Somerville for $4.2 million.

“Properties we list in Somerville always attract significant investor interest,” Brent Hyldahl, first vice president of investments, said. “This property underwent extensive renovations in 2016 and has been exceptionally well-maintained. We’re happy to have successfully facilitated the sale for both the buyer and seller.”

Hyldahl and Alan Cafiero, investment specialists in Marcus & Millichap’s New Jersey office, had the exclusive listing to market the property on behalf of the seller and procured the buyer, Greg Albert of HarborPoint Residential.

The fully occupied mixed-use property at 28-32 W. Main St. comprises 10 apartments with one- and two-bedroom units, situated above two retail units: Provident Bank and Gallery on Main. The property, featuring ample parking on-site, is located in the bustling downtown area, with numerous shops and restaurants along Main Street, including ShopRite, Starbucks and Stop & Shop.