Multifamily Property with Off-Street
62 Nahant St., Lynn, MA 01901
For Sale
$1,300,000
Pending
R2-zoned property includes a fenced exterior and paved off-street parking.
Property Size1,893 SF
Days on Market53
Property Features for 62 Nahant St.
General Information
Standard status
Size
Property subtype
Lease Term
Building Details
Building Size
Year Built
Listing Agency:
The Drumlin Group Inc.
(978) 741-3696
Listed By:
Jacob VanMeter
(781) 854-1037
Source:
Iverty
Added: Sep 22
Changed: Nov 12
Last Checked: Nov 12 at 8:48AM
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 The Drumlin Group Inc.
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Investment Insights
Based on property information with market context.
This multifamily property contains 4,041 square feet and was built in 1893. Its interior is unfinished, and the exterior includes fencing with paved off-street parking.
The property is zoned R2 and is located at 62 Nahant St. in Lynn, Massachusetts.
The property is zoned R2 and is located at 62 Nahant St. in Lynn, Massachusetts.
Key Highlights
- 4,041 square feet of property area
- Built in 1893
- R2 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,572
Cap Rate
5.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,411,440
$1.4M
Cap Rate 7%
$1,008,171
$1.0M
Cap Rate 9%
$784,133
$784.1K
Market Conditions
NOI Build-Up for 4,041 SF
Gross rent
$137.2K $33.96/SF
− Vacancy
−$8.9K −$2.21/SF
EGI
$128.3K $31.75/SF
− OpEx
−$57.7K −$14.29/SF
NOI
$70.6K $17.46/SF
Area
Lynn, MA
Vacancy
6.50%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,411,440
Cap Rate 7%
$1,008,171
Cap Rate 9%
$784,133
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$882.2K – $1.18M
NOI $70,572 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,087 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,878
Businesses Nearby
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Business Placement
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
$343,200
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Lynn, MA
Properties on Market for Multifamily properties in Lynn
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - R2-zoned property includes a fenced exterior and paved off-street parking.
Where is this multifamily property located?
The property is located at 62 Nahant St. Lynn, MA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 4,041 square feet of property area; Built in 1893; R2 zoning
