Office Unit with Private
For Sale
Contact for pricing
251 Western Avenue, Lynn, MA 01904
A second-floor office suite includes three private offices and shared on-site parking.
Property Size880 SF
Price / SF$2.27
Days on Market11
Property Features for 251 Western Avenue
General Information
Standard status
Active
Size
880 SF
Elevators
No
Property subtype
Commercial
Additional Details
Floor
2
Road Access
Yes
Property Use
Office
Building Details
Year Built
1920
Listing Agency:
The Drumlin Group Inc.
(978) 741-3696
Listed By:
Jacob VanMeter
(781) 854-1037
Source:
Lockandkeyre
Added: Oct 21
Changed: Oct 31
Last Checked: Oct 30 at 4:51PM
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 880-square-foot office unit occupies the second floor of a building constructed in 1920. The walk-up suite includes three private offices and access to shared on-site parking.
The property is located at 251 Western Avenue in Lynn, Massachusetts.
The property is located at 251 Western Avenue in Lynn, Massachusetts.
Key Highlights
- 880 square feet of office space
- Three private offices
- Second‑floor walk‑up unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,028
Suggested Prices Based on Cap Rates
Cap Rate 5%
$340,560
$340.6K
Cap Rate 7%
$243,257
$243.3K
Cap Rate 9%
$189,200
$189.2K
Market Conditions
NOI Build-Up for 880 SF
Gross rent
$26.4K $30.00/SF
− Vacancy
−$3.7K −$4.20/SF
EGI
$22.7K $25.80/SF
− OpEx
−$5.7K −$6.45/SF
NOI
$17.0K $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%
$340,560
Cap Rate 7%
$243,257
Cap Rate 9%
$189,200
Alternative Uses
Best Use
Office B
$243.3K
$212.9K – $283.8K
NOI $17,028 @ 7.0% cap · market cap 851.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$311.4K
$272.5K – $363.3K
NOI $21,796 @ 7.0% cap · market cap 1,089.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,102
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - A second-floor office suite includes three private offices and shared on-site parking.
Where is this office unit located?
The property is located at 251 Western Avenue Lynn, MA.
What are key features of this property?
This property features: 880 square feet of office space; Three private offices; Second‑floor walk‑up unit
