Multi-Tenant Office
364-370 Lynnway, Lynn, MA 01901
For Sale
$6,499,000
A two-story office property with on-site parking and a multi-tenant configuration.
Property Size10,500 SF
Lot Size1.23 Acres
Price / SF$618.95
Days on Market22
Property Features for 364-370 Lynnway
General Information
Standard status
Size
Total Parking Spaces
Lot size
Zoning
Additional Details
Road Access
Tenant in Place
Property Use
Building Details
Building Size
Year Built
Buildings
Stories
Tenancy
Listing Agency:
eXp Realty LLC - Corporate Office
Listed By:
The Prosperity Group
(617) 710-0929
Source:
Laerrealty
Added: Oct 19
Changed: Nov 8
Last Checked: Nov 8 at 2:57AM
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
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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.
This two-story office building has a multi-tenant configuration and occupies an approximately 1.23-acre parcel. The property was built in 1915 and includes 71 parking spaces. Its WF1A zoning designation is also a relevant consideration for evaluating the site.
Key Highlights
- Approximately 1.23‑acre parcel
- Two‑story office building with multiple tenants
- 71 parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$203,175
Cap Rate
3.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,063,500
$4.1M
Cap Rate 7%
$2,902,500
$2.9M
Cap Rate 9%
$2,257,500
$2.3M
Market Conditions
NOI Build-Up for 10,500 SF
Gross rent
$315.0K $30.00/SF
− Vacancy
−$44.1K −$4.20/SF
EGI
$270.9K $25.80/SF
− OpEx
−$67.7K −$6.45/SF
NOI
$203.2K $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%
$4,063,500
Cap Rate 7%
$2,902,500
Cap Rate 9%
$2,257,500
Alternative Uses
Best Use
Office B
$2.90M
$2.54M – $3.39M
NOI $203,175 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.72M
$3.25M – $4.33M
NOI $260,064 @ 7.0% cap · market cap 4.00%
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
Multi-tenant
Tenancy
Yes
Paved road access
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
$343,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office buildings in Essex County, MA
Properties on Market for Office buildings in Essex County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - A two-story office property with on-site parking and a multi-tenant configuration.
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 1.23‑acre parcel; Two‑story office building with multiple tenants; 71 parking spaces
