Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    99 Franklin St Lynn, MA 01902

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,905,000

    Nine-unit multifamily property in Lynn, MA, near transportation and amenities.

    Lot size:
    0.12 Acres

    Property Features for 99 Franklin St

    General Information

    Lot size
    0.12 Acres

    Building Details

    Year built
    1940

    We can help!

    Listing Contact
    Kevin Benzinger
    Kevin Benzinger
    Source: Elliman

    Listing Agent: Kevin Benzinger

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Lynn Multifamily Investment Opportunity

    This 9-unit multifamily property is located at 99 Franklin Street in Lynn, MA. The building features eight 1-bedroom/1-bathroom apartments and one 2-bedroom/1-bathroom apartment. The property is located near shopping, dining, and parks. Multiple bus routes and the MBTA station service the area, providing access to downtown Lynn and Boston. This property is an opportunity for investors seeking an income-generating property in a growing market.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Lynn
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.956383
    Latitude
    42.4672626

    Nearby Similar for Sale

    • $849,000
      3,160 SF

      Well-Maintained Multifamily Residence in Lynn

      Move-in ready multifamily with updated interiors, near transportation and shops.
      30 Adams St, Lynn, MA 01902
      View Details
    • $459,000
      2,049 SF

      Lynn Multifamily Investment Opportunity

      Multifamily property in Lynn, MA, requiring complete rehabilitation.
      10-12 Carnes St, Lynn, MA 01905
      View Details
    • $1,500,000
      19,473 SF

      Summer Street Mixed Use Property

      Multi-tenant commercial building with vacant owner's suite in Lynn.
      723-727 Summer Street Pl, Lynn, MA 01905
      View Details
    • $1,500,000
      19,473 SF

      Lynn Mixed-Use Investment Opportunity

      Multi-tenant building with value-add potential in Lynn, MA.
      723 Summer St, Lynn, MA 01905
      View Details
    • $829,900

      Spacious Two-Family Home Near Lynn

      Two-family home near Lynn Commons with updated kitchens and separate utilities.
      57 Johnson St, Lynn, MA 01902
      View Details
    • $10,750,000

      Waterfront Residences with Expansion Potential

      High-end waterfront residences near Boston with strong rental history.
      9 Needhams Lndg, Lynn, MA 01905
      View Details
    • $899,900

      Spacious Two-Family Home with Income

      Two-unit property featuring multiple bedrooms, updated roof, and solar panels.
      249 Chatham St, Lynn, MA 01902
      View Details
    • $779,900

      Well-Maintained Two-Family Home

      Two-family home in Goldfish Pond neighborhood, ideal for investment.
      24 Parrott St, Lynn, MA 01902
      View Details
    • $925,000

      Multifamily with Daycare Potential

      Multifamily property with daycare potential in Lynn, Massachusetts.
      43 Baker St, Lynn, MA 01902
      View Details
    • $869,000

      Remodeled Multifamily Property with Garage

      Fully remodeled multifamily property with luxury finishes and oversized garage.
      12 Chestnut Ave, Lynn, MA 01902
      View Details
    • $7,500,000

      Thirty-Unit Multifamily Property in Lynn

      Thirty units near downtown Lynn with value-add potential.
      108 Franklin St, Lynn, MA 01902
      View Details
    • $829,000

      Victorian Two-Family Home For Sale

      Well-maintained Victorian two-family home with investment potential in Lynn.
      93 Franklin St, Lynn, MA 01905
      View Details

    FAQs

    What type of property is this?
    Apartment building - Nine-unit multifamily property in Lynn, MA, near transportation and amenities.
    Where is this apartment building located?
    The property is located at 99 Franklin St Lynn, MA.
    What is the asking price?
    The asking price for this property is $1,905,000.
    What are key features of this property?
    This property features: - Income-generating 9-unit multifamily property.; - Convenient location with access to multiple bus routes and MBTA station for commuting to Lynn and Boston.; - Attractive mix of eight 1-bedroom and one 2-bedroom apartments.
    (617) 375-7900
    Request Owner's contact information
    99 Franklin St Lynn, MA 01902
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    99 Franklin St
    Lynn, MA 01902
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    99 Franklin St Lynn, MA 01902
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Kevin Benzinger
    Kevin Benzinger
    (617) 375-7900
    Learn more
    Google sign-in failed. Please try again or use another login method.