Office Building on Salem
For Sale
$619,900
630 Salem St, Lynnfield, MA 01940
Limited Business District property with on-site parking and convenient access near Route 1.
Property Size1,925 SF
Lot Size0.24 Acres
Days on Market57
Property Features for 630 Salem St
General Information
Standard status
Active
Size
1,925 SF
Lot size
0.24 Acres
Property subtype
Commercial
Zoning
Limited Business District
Additional Details
Road Access
Yes
Building Details
Building Size
1,925 SF
Year Built
1925
Buildings
1
Listing Agency:
Colarusso Realty
Listed By:
Alexander Colarusso
(617) 960-7731
Source:
Iverty
Added: Aug 24
Changed: Oct 16
Last Checked: Oct 16 at 8:38AM
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 Colarusso Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office building occupies approximately 0.24 acres at 630 Salem Street and is positioned for professional office use. The property includes on-site parking, has undergone recent upgrades, and is described as easy to manage. Its 1925 construction date provides established building history within a current commercial setting.
The property is located in Lynnfield’s Limited Business District, along Salem Street near Route 1. The source information identifies potential applications including law, accounting, insurance, coffee shop, breakfast restaurant, and fitness or gym studio uses. Its placement on a well-traveled street supports convenient access for office users and visitors.
The property is located in Lynnfield’s Limited Business District, along Salem Street near Route 1. The source information identifies potential applications including law, accounting, insurance, coffee shop, breakfast restaurant, and fitness or gym studio uses. Its placement on a well-traveled street supports convenient access for office users and visitors.
Key Highlights
- Approximately 0.24‑acre office property at 630 Salem Street
- Located in Lynnfield’s Limited Business District
- On‑site parking included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,656
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,073,120
$1.1M
Cap Rate 7%
$766,514
$766.5K
Cap Rate 9%
$596,178
$596.2K
Market Conditions
NOI Build-Up for 1,925 SF
Gross rent
$87.8K $45.60/SF
− Vacancy
−$16.2K −$8.44/SF
EGI
$71.5K $37.16/SF
− OpEx
−$17.9K −$9.29/SF
NOI
$53.7K $27.87/SF
Area
Essex County, MA
Vacancy
18.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,073,120
Cap Rate 7%
$766,514
Cap Rate 9%
$596,178
Alternative Uses
Best Use
Office B
$766.5K
$670.7K – $894.3K
NOI $53,656 @ 7.0% cap · market cap 8.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$997.2K – $1.33M
NOI $79,772 @ 7.0% cap · market cap 12.87%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
Explore this area
Business Placement
Demographics for 01940, MA
13,326
Population
5,033
Households
2.6
Avg Household Size
44
Median Age
61%
College-Educated
98%
High-School Grad
10.1 sq mi
ZIP Area
1,319
Density / Sq Mi
$171,044
Median Household Income
$86,135
Median Earnings
$2,333
Median Rent
$891,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Limited Business District property with on-site parking and convenient access near Route 1.
Where is this office building located?
The property is located at 630 Salem St Lynnfield, MA.
What is the asking price?
The asking price for this property is $619,900.
What are key features of this property?
This property features: Approximately 0.24‑acre office property at 630 Salem Street; Located in Lynnfield’s Limited Business District; On‑site parking included
