Open-Plan Office
For Sale
Contact for pricing
313-315 Eastern Avenue, Lynn, MA 01902
Well-positioned office unit with an open layout and three off-street parking spaces, with quick access to Route 1A/129A.
Property Size877 SF
Price / SF$1.94
Days on Market195
Property Features for 313-315 Eastern Avenue
General Information
Standard status
Active
Size
877 SF
Total Parking Spaces
3
Property subtype
Commercial
Zoning
R1
Lease Type
Gross
Building Details
Building Size
877 SF
Year Built
1890
Listing Agency:
The Drumlin Group Inc.
(978) 741-3696
Listed By:
Jacob VanMeter
(781) 854-1037
Source:
Churchillprop
Added: Apr 20
Changed: Oct 25
Last Checked: Oct 30 at 11:40AM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
313-315 Eastern Avenue offers a well-located office unit featuring an open floor plan that can be configured as needed. The space is suited to a range of administrative uses and includes three off-street parking spaces.
The property provides quick access to Route 1A/129A and also allows for additional on-street parking for staff or clients as needed.
The current gross lease structure is noted for this office unit.
The property provides quick access to Route 1A/129A and also allows for additional on-street parking for staff or clients as needed.
The current gross lease structure is noted for this office unit.
Key Highlights
- Office unit built in 1890 with an open floor plan that can be configured to suit your needs
- Quick access to Route 1A/129A for convenient commutes and client access
- Includes 3 off‑street parking spaces, with access to additional on‑street parking as needed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,970
Suggested Prices Based on Cap Rates
Cap Rate 5%
$339,400
$339.4K
Cap Rate 7%
$242,429
$242.4K
Cap Rate 9%
$188,556
$188.6K
Market Conditions
NOI Build-Up for 877 SF
Gross rent
$26.3K $30.00/SF
− Vacancy
−$3.7K −$4.20/SF
EGI
$22.6K $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%
$339,400
Cap Rate 7%
$242,429
Cap Rate 9%
$188,556
Alternative Uses
Best Use
Office B
$242.4K
$212.1K – $282.8K
NOI $16,970 @ 7.0% cap · market cap 998.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$310.3K
$271.5K – $362.0K
NOI $21,722 @ 7.0% cap · market cap 1,277.76%
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
905
Businesses Nearby
Explore this area
Business Placement
Demographics for 01902, MA
50,725
Population
19,655
Households
2.6
Avg Household Size
35
Median Age
20%
College-Educated
75%
High-School Grad
2.4 sq mi
ZIP Area
21,135
Density / Sq Mi
$66,755
Median Household Income
$39,506
Median Earnings
$1,571
Median Rent
$456,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Well-positioned office unit with an open layout and three off-street parking spaces, with quick access to Route 1A/129A.
Where is this office unit located?
The property is located at 313-315 Eastern Avenue Lynn, MA.
What are key features of this property?
This property features: Office unit built in 1890 with an open floor plan that can be configured to suit your needs; Quick access to Route 1A/129A for convenient commutes and client access; Includes 3 off‑street parking spaces, with access to additional on‑street parking as needed
