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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

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.
More about this property
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