Mixed-Use Income Property with
141 Essex Street Lynn, MA 01902
141 Essex Street, Lynn, MA, 01902
$699,900
For Sale
$699,900
Two-unit mix: a bakery commercial lease in unit one and an at-will residential unit two with separate utilities.
Property Size1,880 SF
Price / SF$372.29
Days on Market109
Property Features for 141 Essex Street
General Information
- Standard status
- Active
- Size
- 1,880 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1906
Listing agency
RE/MAX 360
Listed by
Hien Lieu
(617) 396-3100
Source
Longwoodresidential
Added: Apr 5 Updated: Jul 21 at 6:47PM Checked: Jul 21 at 6:47PM
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 RE/MAX 360
Investment Insights
Based on property information with market context.
This mixed-use two-unit property features a commercial bakery lease tenant in unit one and an at-will residential unit in unit two. The seller states all utilities are separate, and the building includes 1-car off-street parking plus on-street parking.
Maintenance updates noted include a roof approximately 3 years old, a newly installed oil tank for unit two, and a water tank approximately 2 years old for unit one. The property is offered for sale as an income-oriented asset with both commercial and residential occupancy profiles.
Maintenance updates noted include a roof approximately 3 years old, a newly installed oil tank for unit two, and a water tank approximately 2 years old for unit one. The property is offered for sale as an income-oriented asset with both commercial and residential occupancy profiles.
Key Highlights
- Two‑unit mixed‑use property: bakery commercial lease in unit 1 and an at‑will residential unit in unit 2
- 3‑year‑old roof
- Unit 2 has a newly installed oil tank
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.1k | $28.80 |
| − Vacancy | −$2.7k | −$1.44 |
| EGI | $51.4k | $27.36 |
| − OpEx | −$12.9k | −$6.84 |
| NOI | $38.6k | $20.52 |
1,880 SF · lease $28.80/SF/yr · vacancy 5.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$551.1K
$482.2K – $643.0K
NOI $38,578 @ 7.0% cap · market cap 5.51%
Second Best
Multifamily LT 5
$539.8K
$472.3K – $629.8K
NOI $37,785 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$665.2K
$582.1K – $776.1K
NOI $46,564 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
ART DI Karina
Bakery
M L Foods ...
Bakery
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-unit mix: a bakery commercial lease in unit one and an at-will residential unit two with separate utilities.
Where is this duplex located?
The property is located at 141 Essex Street Lynn, MA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Two‑unit mixed‑use property: bakery commercial lease in unit 1 and an at‑will residential unit in unit 2; 3‑year‑old roof; Unit 2 has a newly installed oil tank
