Corner Retail Building with Billboard
For Sale
$1,550,000
47-53 Central Ave, Lynn, MA 01901
Freestanding corner retail building with two units and a double-sided rooftop billboard generating additional income.
Property Size6,346 SF
Days on Market122
Property Features for 47-53 Central Ave
General Information
Standard status
Active
Size
6,346 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,449
Building Details
Building Size
6,346 SF
Year Built
1900
Listing Agency:
Lillian Montalto Signature Properties
Listed By:
Team Lillian Montalto
(978) 475-1400
Source:
Classifiedrealtygroup
Added: Jun 21
Changed: Oct 14
Last Checked: Oct 20 at 5:52PM
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 Lillian Montalto Signature Properties
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
47–53 Central Avenue, Lynn, MA 01901 is a highly visible corner retail building with two ground-floor units. The left-side unit is owner-occupied by Cal’s News, operating as a tobacco, magazine, and lottery c-store. The right-side unit is leased to a Latin Restaurant & Bar, providing current rental income.
The property is located at the corner of Central & Washington with strong pedestrian activity. Public remarks cite exceptional traffic counts, a 90 Walk Score, and a dense surrounding population.
Additional income is generated from a double-sided rooftop billboard. The Latin restaurant is currently in a lease; contact the listing agent for additional information.
The property is located at the corner of Central & Washington with strong pedestrian activity. Public remarks cite exceptional traffic counts, a 90 Walk Score, and a dense surrounding population.
Additional income is generated from a double-sided rooftop billboard. The Latin restaurant is currently in a lease; contact the listing agent for additional information.
Key Highlights
- Freestanding corner retail building with two retail units at the highly visible corner of Central & Washington
- Left unit is owner‑occupied as Cal's News (tobacco, magazine, and lottery c‑store)
- Right unit is leased to a Latin Restaurant & Bar for stable rental income
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$130,220
Cap Rate
8.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,604,400
$2.6M
Cap Rate 7%
$1,860,286
$1.9M
Cap Rate 9%
$1,446,889
$1.4M
Market Conditions
NOI Build-Up for 6,346 SF
Gross rent
$182.8K $28.80/SF
− Vacancy
−$9.1K −$1.44/SF
EGI
$173.6K $27.36/SF
− OpEx
−$43.4K −$6.84/SF
NOI
$130.2K $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%
$2,604,400
Cap Rate 7%
$1,860,286
Cap Rate 9%
$1,446,889
Alternative Uses
Best Use
Specialty Retail
$1.86M
$1.63M – $2.17M
NOI $130,220 @ 7.0% cap · market cap 8.40%
Second Best
Retail
$1.62M
$1.42M – $1.89M
NOI $113,343 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$2.25M
$1.96M – $2.62M
NOI $157,178 @ 7.0% cap · market cap 10.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,680
Businesses Nearby
102k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Dining 34%
Apparel 4%
Electronics 4%
Dunkin' Donuts
Dining
15,946 visits/mo
0.5 miles
Bank of America
Shops & Services
13,800 visits/mo
0.1 miles
Speedway
Shops & Services
11,343 visits/mo
0.0 miles
Dollar Tree
Shops & Services
10,903 visits/mo
0.3 miles
Family Dollar
Shops & Services
9,415 visits/mo
0.3 miles
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 Retail in Northeast region
Similar Off Market Nearby
- Stop & Shop Florist — Lynn, MA 01904
Frequently Asked Questions
What type of property is this?
Storefront property - Freestanding corner retail building with two units and a double-sided rooftop billboard generating additional income.
Where is this storefront property located?
The property is located at 47-53 Central Ave Lynn, MA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Freestanding corner retail building with two retail units at the highly visible corner of Central & Washington; Left unit is owner‑occupied as Cal's News (tobacco, magazine, and lottery c‑store); Right unit is leased to a Latin Restaurant & Bar for stable rental income
