Renovated Four-Unit Mixed-Use
For Sale
$1,160,000
431-433 Chatham, Lynn, MA 01902
Fully renovated four-unit property with two street-level commercial spaces and two apartments, plus dedicated storage and private decks.
Property Size3,442 SF
Price / SF$337.01
Days on Market422
Property Features for 431-433 Chatham
General Information
Standard status
Active
Size
3,442 SF
Total Parking Spaces
12
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Compass
Listed By:
Stephen Dixon · License #9518016
(781) 244-2853
Source:
Wilsonwolfe
Added: Aug 27, 2025
Changed: Oct 21
Last Checked: Oct 10 at 12:52AM
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 Compass
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Investment Insights
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This fully renovated four-unit mixed-use building features two street-level commercial spaces and two updated residential apartments. Each commercial unit includes a private restroom and dedicated basement storage, making the setup practical for retail, office, salon, or service use. The residential component consists of a spacious 2-bedroom, 1-bath apartment with an open-concept layout and a large private deck, currently delivered vacant, and a 1-bedroom, 1-bath apartment with a private deck that is occupied by a tenant-at-will paying $2,450 per month and willing to renew.
The property sits in the heart of East Lynn, with two street-facing commercial offerings and access supported by parking. On-site parking is listed as 10–12 spaces, along with ample street parking.
For buyers, the mix of income-producing commercial and residential units can support a range of strategies, from investor ownership to owner-user operation. The smaller commercial unit is leased at $1,800 per month on a 3-year term with annual rent increases, while the larger commercial space generates $2,300 per month and may be delivered vacant at closing, allowing flexibility in planning future use.
The property sits in the heart of East Lynn, with two street-facing commercial offerings and access supported by parking. On-site parking is listed as 10–12 spaces, along with ample street parking.
For buyers, the mix of income-producing commercial and residential units can support a range of strategies, from investor ownership to owner-user operation. The smaller commercial unit is leased at $1,800 per month on a 3-year term with annual rent increases, while the larger commercial space generates $2,300 per month and may be delivered vacant at closing, allowing flexibility in planning future use.
Key Highlights
- Fully renovated four‑unit mixed‑use building (Year Built 1900) with two street‑level commercial spaces and two apartments in East Lynn
- Two commercial units: each includes a private restroom and dedicated basement storage
- Commercial income includes $1,800/month (3‑year term with annual rent increases) and $2,300/month, with the larger unit may be delivered vacant at closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,312
Cap Rate
5.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,306,240
$1.3M
Cap Rate 7%
$933,029
$933.0K
Cap Rate 9%
$725,689
$725.7K
Market Conditions
NOI Build-Up for 3,442 SF
Gross rent
$113.6K $33.00/SF
− Vacancy
−$9.1K −$2.64/SF
EGI
$104.5K $30.36/SF
− OpEx
−$39.2K −$11.39/SF
NOI
$65.3K $18.98/SF
Area
Lynn, MA
Vacancy
8.00%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,306,240
Cap Rate 7%
$933,029
Cap Rate 9%
$725,689
Alternative Uses
Best Use
Mixed Use
$933.0K
$816.4K – $1.09M
NOI $65,312 @ 7.0% cap · market cap 5.63%
Second Best
Retail
$878.2K
$768.5K – $1.02M
NOI $61,476 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,251 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
835
Businesses Nearby
23k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 73%
Dining 27%
Mobil
Shops & Services
9,606 visits/mo
0.4 miles
7-Eleven
Shops & Services
7,081 visits/mo
0.4 miles
Dunkin' Donuts
Dining
6,207 visits/mo
0.4 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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Storefront property - Fully renovated four-unit property with two street-level commercial spaces and two apartments, plus dedicated storage and private decks.
Where is this storefront property located?
The property is located at 431-433 Chatham Lynn, MA.
What is the asking price?
The asking price for this property is $1,160,000.
What are key features of this property?
This property features: Fully renovated four‑unit mixed‑use building (Year Built 1900) with two street‑level commercial spaces and two apartments in East Lynn; Two commercial units: each includes a private restroom and dedicated basement storage; Commercial income includes $1,800/month (3‑year term with annual rent increases) and $2,300/month, with the larger unit may be delivered vacant at closing
