Mixed-Use Property with
New
For Sale
$749,900
43 Broad Street, Lynn, MA 01902
A convenience store occupies the ground floor, with a three-bedroom apartment on the level above.
Property Size2,268 SF
Price / SF$330.64
Days on Market7
Property Features for 43 Broad Street
General Information
Standard status
Active
Size
2,268 SF
Total Parking Spaces
4
Property subtype
Multi-family
Units
Unit Mix
1 x 3BR/1BA
Multifamily Units
1
Additional Details
Average Monthly Rent
$2,900
Public Transit
Yes
Building Details
Year Built
1823
Tenancy
Multi
Listing Agency:
J. Barrett & Company
Listed By:
Melissa Dias Lopes
(617) 835-2394
Source:
Jbarrettrealty
Added: Sep 29
Changed: Oct 4
Last Checked: Oct 4 at 10:17AM
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 J. Barrett & Company
Investment Insights
Based on property information with market context.
This 2,268-square-foot mixed-use building, constructed in 1823, combines a ground-floor convenience store with a second-floor apartment configured with three bedrooms and one bathroom. The commercial space has a 10-year lease and a five-year option. The apartment is occupied by a tenant at will. A full basement and four off-street parking spaces are also part of the property.
The property is near Lynn’s Diamond District, Lynn Shore Drive and Lynn Beach. MBTA bus service and the Lynn commuter rail station are accessible, along with shopping, parks and major routes. The sale is as-is.
The property is near Lynn’s Diamond District, Lynn Shore Drive and Lynn Beach. MBTA bus service and the Lynn commuter rail station are accessible, along with shopping, parks and major routes. The sale is as-is.
Key Highlights
- Ground‑floor convenience store with a 10‑year lease and five‑year option
- Second‑floor residential unit with 3 bedrooms and 1 bathroom
- 2,268 square feet; built in 1823
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,539
Cap Rate
6.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$930,780
$930.8K
Cap Rate 7%
$664,843
$664.8K
Cap Rate 9%
$517,100
$517.1K
Market Conditions
NOI Build-Up for 2,268 SF
Gross rent
$65.3K $28.80/SF
− Vacancy
−$3.3K −$1.44/SF
EGI
$62.1K $27.36/SF
− OpEx
−$15.5K −$6.84/SF
NOI
$46.5K $20.52/SF
Area
Lynn, MA
Vacancy
5.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$930,780
Cap Rate 7%
$664,843
Cap Rate 9%
$517,100
Alternative Uses
Best Use
Specialty Retail
$664.8K
$581.7K – $775.7K
NOI $46,539 @ 7.0% cap · market cap 6.21%
Second Best
Mixed Use
$614.8K
$537.9K – $717.3K
NOI $43,035 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$802.5K
$702.2K – $936.2K
NOI $56,174 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,760
Businesses Nearby
49k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Dining 32%
Electronics 8%
Home Improvements & Furnishings 2%
Dollar Tree
Shops & Services
10,903 visits/mo
0.5 miles
Dunkin' Donuts
Dining
9,840 visits/mo
0.3 miles
Family Dollar
Shops & Services
9,415 visits/mo
0.4 miles
7-Eleven
Shops & Services
7,385 visits/mo
0.1 miles
Little Caesars Pizza
Dining
4,788 visits/mo
0.3 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A convenience store occupies the ground floor, with a three-bedroom apartment on the level above.
Where is this mixed-use property located?
The property is located at 43 Broad Street Lynn, MA.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Ground‑floor convenience store with a 10‑year lease and five‑year option; Second‑floor residential unit with 3 bedrooms and 1 bathroom; 2,268 square feet; built in 1823
