Office Unit with Exposed
131 Essex St #., Lynn, MA 01904
For Sale
Contact for pricing
A two-level office layout pairs open work areas with a dedicated conference room.
Property Size3,366 SF
Price / SF$1.49
Days on Market20
Property Features for 131 Essex St #.
General Information
Standard status
Size
Additional Details
Condition
Property Use
Amenities
dedicated professional conference room
Building Details
Year Built
Stories
Construction
Listing Agency:
The Drumlin Group Inc.
(978) 741-3696
Listed By:
Jacob VanMeter
(781) 854-1037
Source:
Lockandkeyre
Added: Oct 21
Changed: Nov 8
Last Checked: Nov 8 at 6:54AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Drumlin Group Inc.
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Investment Insights
Based on property information with market context.
This 3,366-square-foot office unit spans two stories and dates to 1903. Its open layout is complemented by a dedicated conference room, tall ceilings with exposed structural beams, and large windows that bring daylight into the interior. Contemporary restroom fixtures complete the interior improvements.
Key Highlights
- 3,366‑square‑foot office unit across two stories
- Open work area and dedicated conference room
- Tall ceilings with exposed beams
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,132
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,302,640
$1.3M
Cap Rate 7%
$930,457
$930.5K
Cap Rate 9%
$723,689
$723.7K
Market Conditions
NOI Build-Up for 3,366 SF
Gross rent
$101.0K $30.00/SF
− Vacancy
−$14.1K −$4.20/SF
EGI
$86.8K $25.80/SF
− OpEx
−$21.7K −$6.45/SF
NOI
$65.1K $19.35/SF
Area
Lynn, MA
Vacancy
14.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,302,640
Cap Rate 7%
$930,457
Cap Rate 9%
$723,689
Alternative Uses
Best Use
Office B
$930.5K
$814.2K – $1.09M
NOI $65,132 @ 7.0% cap · market cap 1,302.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,369 @ 7.0% cap · market cap 1,667.38%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,182
Businesses Nearby
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Business Placement
Demographics for 01904, MA
19,944
Population
7,322
Households
2.7
Avg Household Size
40
Median Age
32%
College-Educated
85%
High-School Grad
4.2 sq mi
ZIP Area
4,749
Density / Sq Mi
$100,597
Median Household Income
$49,561
Median Earnings
$1,742
Median Rent
$515,100
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Essex County, MA
Properties on Market for Office Units in Essex County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - A two-level office layout pairs open work areas with a dedicated conference room.
Where is this office unit located?
The property is located at 131 Essex St #. Lynn, MA.
What are key features of this property?
This property features: 3,366‑square‑foot office unit across two stories; Open work area and dedicated conference room; Tall ceilings with exposed beams
