Corner Retail Building with Billboard
47-53 Central Avenue Lynn, MA 01901
47-53 Central Avenue, Lynn, MA, 01901
$1,600,000
For Sale
$1,600,000
Freestanding corner retail building with two units and a double-sided rooftop billboard generating additional income.
Property Size6,346 SF
Price / SF$252.13
Days on Market53
Property Features for 47-53 Central Avenue
General Information
- Standard status
- Active
- Size
- 6,346 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1900
Listing agency
Lillian Montalto Signature Properties
Listed by
Team Lillian Montalto
(617) 875-4950
Source
Sarkisboston
Added: May 30 Updated: Jul 21 at 1:36AM Checked: Jul 21 at 7:04AM
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
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
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $182.8k | $28.80 |
| − Vacancy | −$9.1k | −$1.44 |
| EGI | $173.6k | $27.36 |
| − OpEx | −$43.4k | −$6.84 |
| NOI | $130.2k | $20.52 |
6,346 SF · lease $28.80/SF/yr · vacancy 5.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.86M
$1.63M – $2.17M
NOI $130,220 @ 7.0% cap · market cap 8.14%
Second Best
Retail
$1.62M
$1.42M – $1.89M
NOI $113,343 @ 7.0% cap · market cap 7.08%
Theoretical Best
Office A
$2.25M
$1.96M – $2.62M
NOI $157,178 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
Similar For Sale Nearby
Similar Off Market Nearby
- Stop & Shop Florist — Lynn, MA 01904
FAQs
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 Avenue Lynn, MA.
What is the asking price?
The asking price for this property is $1,600,000.
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
