Multi-Tenant Office
364 Lynnway, Lynn, MA 01901
For Sale
Contact for pricing
Two levels of office space sit on a sizable Lynnway parcel with on-site parking.
Property Size21,000 SF
Lot Size1.23 Acres
Price / SF$309.48
Days on Market26
Property Features for 364 Lynnway
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Additional Details
Public Transit
Tenant in Place
Property Use
Building Details
Stories
Tenancy
Listing Agency:
eXp Commercial - The Prosperity Group
Listed By:
The Prosperity Group at eXp Commercial · License #9559190
Source:
Crexi
Added: Oct 15
Changed: Nov 8
Last Checked: Nov 8 at 3:53PM
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 Commercial - The Prosperity Group
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Investment Insights
Based on property information with market context.
This two-story office property contains approximately 21,000 SF and is configured for multiple tenants. The site encompasses approximately 1.23 acres and includes approximately 71 parking spaces, providing on-site parking for the property.
Located at 364 Lynnway in Lynn, the property is adjacent to the Lynn Ferry to Boston and sits along the Lynnway commercial corridor. The location also offers access to downtown Lynn, nearby North Shore communities, and Greater Boston.
Located at 364 Lynnway in Lynn, the property is adjacent to the Lynn Ferry to Boston and sits along the Lynnway commercial corridor. The location also offers access to downtown Lynn, nearby North Shore communities, and Greater Boston.
Key Highlights
- Approximately 21,000 SF of office space across two stories
- Multi‑tenant configuration
- Approximately 1.23‑acre site
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.
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Property Analytics
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See the owner, sales and loan history
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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
$343,200
Median Home Value
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Market
Average Price Trend$/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 - Two levels of office space sit on a sizable Lynnway parcel with on-site parking.
Where is this office building located?
The property is located at 364 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 across two stories; Multi‑tenant configuration; Approximately 1.23‑acre site
