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    229 Lewis St Lynn, MA 01902

    Sponsored
    For Sale
    $3,900,000

    High-return 10-unit building, excellent condition.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    337
    This exceptional investment opportunity presents a 10-unit mixed-use brick building situated on a 0.13-acre lot at 229 Lewis Street in Lynn, Massachusetts. Constructed from the ground up in 2010, this property boasts significant recent upgrades, including a newer roof, plumbing, electrical system, and commercial-grade central air conditioning. Safety features are comprehensive with a hard-wired smoke and sprinkler system installed throughout. The building's layout comprises five commercial retail units on the ground floor, generating consistent income with built-in annual rent increases. Above, the second and third floors house five three-bedroom, one-bathroom apartments, all in excellent condition and equipped with washer and dryer hookups. A key advantage is that tenants are responsible for all utilities. All units are currently leased, ensuring immediate cash flow. The property is meticulously maintained, with absolutely no deferred maintenance. This turnkey investment offers a rare chance to acquire a high-return asset with minimal ongoing expenses. Furthermore, a profitable laundry mat business is included in the sale at no additional cost, adding further value to this already impressive offering. The asking price for this exceptional property is $3,900,000.

    Property Features for 229 Lewis St

    General Information

    Property type
    Other commercial real estate
    Lot Size
    5,663 SF

    Building Details

    Year Built
    2010
    Property Profile Location Intelligence

    Current Use by Public Records

    Yanelis mini market ... Grocery Store

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lynn
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.93445
    Latitude
    42.46452

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    FAQs

    What type of property is this?
    Commercial real estate - High-return 10-unit building, excellent condition.
    Where is this commercial real estate located?
    The property is located at 229 Lewis St Lynn, MA.
    What is the asking price?
    The asking price for this property is $3,900,000.
    (617) 479-6666
    Request Owner's contact information
    229 Lewis St Lynn, MA 01902
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    Lynn, MA 01902
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    229 Lewis St Lynn, MA 01902
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