Multi-Tenant Retail
For Sale
$5,900,000
3-11 Mount Vernon St, Lynn, MA 01901
The property includes private parking and is near public transportation, North Shore Community College, restaurants, and entertainment venues.
Property Size18,000 SF
Price / SF$327.78
Days on Market157
Property Features for 3-11 Mount Vernon St
General Information
Standard status
Active
Size
18,000 SF
Property subtype
COMMERCIAL
Taxes and HOA fees
Annual Taxes
$5,610
Amenities
private parking
Building Details
Building Size
18,000 SF
Year Built
1964
Listing Agency:
McNamara Realty
Listed By:
Chris McNamara
(617) 605-1201
Source:
Mcnamararealty
Added: May 26
Changed: Oct 29
Last Checked: Oct 29 at 2:34PM
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 McNamara Realty
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 18,000-square-foot retail property was built in 1964 and includes private parking. Its commercial space may accommodate retail, food service, fitness, or office uses.
The building is in Lynn’s Arts and Entertainment District, near North Shore Community College, public transportation, restaurants, and entertainment venues. New residential development is also in the surrounding area, and additional free parking is nearby.
The building is in Lynn’s Arts and Entertainment District, near North Shore Community College, public transportation, restaurants, and entertainment venues. New residential development is also in the surrounding area, and additional free parking is nearby.
Key Highlights
- 18,000 square feet of retail space
- Built in 1964
- Private parking on site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$321,489
Cap Rate
5.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,429,780
$6.4M
Cap Rate 7%
$4,592,700
$4.6M
Cap Rate 9%
$3,572,100
$3.6M
Market Conditions
NOI Build-Up for 18,000 SF
Gross rent
$486.0K $27.00/SF
− Vacancy
−$26.7K −$1.49/SF
EGI
$459.3K $25.51/SF
− OpEx
−$137.8K −$7.65/SF
NOI
$321.5K $17.86/SF
Area
Lynn, MA
Vacancy
5.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,429,780
Cap Rate 7%
$4,592,700
Cap Rate 9%
$3,572,100
Alternative Uses
Best Use
Retail
$4.59M
$4.02M – $5.36M
NOI $321,489 @ 7.0% cap · market cap 5.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.37M
$5.57M – $7.43M
NOI $445,824 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,481
Businesses Nearby
94k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 64%
Dining 25%
Apparel 5%
Electronics 4%
Bank of America
Shops & Services
13,800 visits/mo
0.4 miles
Speedway
Shops & Services
11,343 visits/mo
0.4 miles
Dollar Tree
Shops & Services
10,903 visits/mo
0.3 miles
Family Dollar
Shops & Services
9,415 visits/mo
0.1 miles
7-Eleven
Shops & Services
7,385 visits/mo
0.4 miles
Demographics for 01901, MA
2,794
Population
1,289
Households
2.2
Avg Household Size
44
Median Age
39%
College-Educated
90%
High-School Grad
0.3 sq mi
ZIP Area
9,313
Density / Sq Mi
$27,561
Median Household Income
$36,219
Median Earnings
$1,193
Median Rent
$343,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - The property includes private parking and is near public transportation, North Shore Community College, restaurants, and entertainment venues.
Where is this retail space located?
The property is located at 3-11 Mount Vernon St Lynn, MA.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: 18,000 square feet of retail space; Built in 1964; Private parking on site
