Two-Story Office
New
For Sale
$6,499,000
364-370 Lynnway, Lynn, MA 01901
Multi-tenant office space is arranged across two floors, with on-site parking for occupants and visitors.
Property Size21,000 SF
Lot Size1.23 Acres
Price / SF$309.48
Days on Market2
Property Features for 364-370 Lynnway
General Information
Standard status
Active
Size
21,000 SF
Total Parking Spaces
71
Lot size
1.23 Acres
Property subtype
Commercial
Building Details
Year Built
1915
Stories
2
Building Size
21,000 SF
Tenancy
Multi
Listing Agency:
eXp Realty LLC - Corporate Office
(413) 333-7776
Listed By:
The Prosperity Group
(888) 854-7493
Source:
Ma-cthomes
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 15 at 2:25AM
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 eXp Realty LLC - Corporate Office
Investment Insights
Based on property information with market context.
The office property at 364–370 Lynnway is a two-story, multi-tenant building constructed in 1915. It contains approximately 21,000 SF on a site of approximately 1.23 acres, with about 71 parking spaces. The multi-tenant configuration provides space for multiple office occupants.
The property fronts Lynnway in Lynn, Massachusetts, with access to downtown Lynn, North Shore communities, and Greater Boston. Its location is also near established businesses, waterfront amenities, and major transportation routes.
The property fronts Lynnway in Lynn, Massachusetts, with access to downtown Lynn, North Shore communities, and Greater Boston. Its location is also near established businesses, waterfront amenities, and major transportation routes.
Key Highlights
- Approximately 21,000 SF of office space in a two‑story building
- Multi‑tenant configuration
- Approximately 1.23 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$406,350
Cap Rate
6.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,127,000
$8.1M
Cap Rate 7%
$5,805,000
$5.8M
Cap Rate 9%
$4,515,000
$4.5M
Market Conditions
NOI Build-Up for 21,000 SF
Gross rent
$630.0K $30.00/SF
− Vacancy
−$88.2K −$4.20/SF
EGI
$541.8K $25.80/SF
− OpEx
−$135.5K −$6.45/SF
NOI
$406.4K $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%
$8,127,000
Cap Rate 7%
$5,805,000
Cap Rate 9%
$4,515,000
Alternative Uses
Best Use
Office B
$5.80M
$5.08M – $6.77M
NOI $406,350 @ 7.0% cap · market cap 6.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.43M
$6.50M – $8.67M
NOI $520,128 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,986
Businesses Nearby
Explore this area
Business Placement
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Multi-tenant office space is arranged across two floors, with on-site parking for occupants and visitors.
Where is this office building located?
The property is located at 364-370 Lynnway Lynn, MA.
What is the asking price?
The asking price for this property is $6,499,000.
What are key features of this property?
This property features: Approximately 21,000 SF of office space in a two‑story building; Multi‑tenant configuration; Approximately 1.23 acres
