Turnkey Restaurant and Retail
For Sale
$800,000
52-56 Central Square, Lynn, MA 01901
Downtown Lynn building with leased retail and fully equipped restaurant featuring seating for 50 and full bar.
Property Size3,000 SF
Price / SF$266.67
Days on Market403
Property Features for 52-56 Central Square
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Business Included
Yes
Building Details
Year Built
1890
Tenancy
Multi
Listing Agency:
Real Broker MA,LLC
Listed By:
Dmitriy Dribinskiy
(617) 240-6236
Source:
Burkelordrealestate
Added: Aug 20, 2025
Changed: Sep 24
Last Checked: Jul 30 at 1:18PM
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 Real Broker MA,LLC
Investment Insights
Based on property information with market context.
This turnkey downtown property offers 3,000+/- square feet and is sold with two separate commercial spaces. One space is leased retail currently rented on a month-to-month basis. The second space is a fully equipped restaurant with a full bar and seating for approximately 50 guests, and it is covered by an in-place 2-year lease. A separate storage area is included to support day-to-day operations.
The property is located in downtown Lynn and positioned just minutes from the commuter rail, with apartment buildings nearby. The building benefits from a pedestrian- and vehicle-oriented downtown setting, supporting visibility for retail and dining concepts.
For buyers and brokers, the layout provides a practical split between a leased retail component and a restaurant space that is ready to operate as presented. Existing tenancy includes one month-to-month retail lease and one restaurant lease through the stated 2-year term, along with the convenience of furnished operational components such as the restaurant’s full bar and seating. Please note the landlord pays a $1,700 per month condo fee. Buyers and buyer’s representatives are encouraged to conduct their own independent due diligence.
The property is located in downtown Lynn and positioned just minutes from the commuter rail, with apartment buildings nearby. The building benefits from a pedestrian- and vehicle-oriented downtown setting, supporting visibility for retail and dining concepts.
For buyers and brokers, the layout provides a practical split between a leased retail component and a restaurant space that is ready to operate as presented. Existing tenancy includes one month-to-month retail lease and one restaurant lease through the stated 2-year term, along with the convenience of furnished operational components such as the restaurant’s full bar and seating. Please note the landlord pays a $1,700 per month condo fee. Buyers and buyer’s representatives are encouraged to conduct their own independent due diligence.
Key Highlights
- Downtown Lynn commercial property built in 1890 with 3,000+ SF
- Includes leased retail space rented month‑to‑month at $2,300/month
- Fully equipped restaurant leased at $4,000/month with a 2‑year lease
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$61,560
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.70%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,231,200
$1.2M
Cap Rate 7%
$879,429
$879.4K
Cap Rate 9%
$684,000
$684.0K
Market Conditions
NOI Build-Up for 3,000 SF
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.
Gross rent
$86.4K $28.80/SF
− Vacancy
−$4.3K −$1.44/SF
EGI
$82.1K $27.36/SF
− OpEx
−$20.5K −$6.84/SF
NOI
$61.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,231,200
Cap Rate 7%
$879,429
Cap Rate 9%
$684,000
Alternative Uses
Best Use
Specialty Retail
$879.4K
$769.5K – $1.03M
NOI $61,560 @ 7.0% cap · market cap 7.70%
Second Best
Retail
$765.5K
$669.8K – $893.0K
NOI $53,582 @ 7.0% cap · market cap 6.70%
Theoretical Best
Office A
$1.06M
$928.8K – $1.24M
NOI $74,304 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,603
Businesses Nearby
88k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 62%
Dining 27%
Apparel 5%
Electronics 4%
Bank of America
Shops & Services
13,800 visits/mo
0.3 miles
Speedway
Shops & Services
11,343 visits/mo
0.2 miles
Dollar Tree
Shops & Services
10,903 visits/mo
0.3 miles
Family Dollar
Shops & Services
9,415 visits/mo
0.2 miles
Pollo Campero
Dining
6,937 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Downtown Lynn building with leased retail and fully equipped restaurant featuring seating for 50 and full bar.
Where is this conventional restaurant located?
The property is located at 52-56 Central Square Lynn, MA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Downtown Lynn commercial property built in 1890 with 3,000+ SF; Includes leased retail space rented month‑to‑month at $2,300/month; Fully equipped restaurant leased at $4,000/month with a 2‑year lease
