Renovated Mixed-Use
New
For Sale
$1,795,000
90 Essex St, Lynn, MA 01902
Residential Income, Lynn, MA
Property Size8,672 SF
Lot Size0.12 Acres
Price / SF$206.99
Days on Market2
Property Features for 90 Essex St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
B2
Bedrooms
10
Bathrooms
8
Full bathrooms
7
Half bathrooms
1
Rooms
Bathroom 2, Bathroom 3, Bathroom 1, Bathroom 6, Bedroom 6, Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 3, Bedroom 7, Bedroom 8, Bedroom 9, Bathroom 5, Bathroom 7, Bathroom 4, Bathroom 8, Bedroom 10, Bedroom 4
Parking
4
Elementary school
Cobbet Elementary School
Middle school
Thurgood Marshall
High school
Lynn English High School
Directions
Essex ST and Empire ST.
Standard status
Active
APN
2000368
Size
8,672 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10535
Building Details
Year built
1910
Floors in Building
4
Number of units
4
Listing Agency:
Keller Williams Realty Evolution
(978) 927-8700
Listed By:
Keller Williams Realty Evolution
Added: Aug 24
Last Checked: Aug 25 at 1:06AM
MLS# 73567599
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 90 Essex St in Lynn, MA, this mixed-use property contains 8,672 square feet across one commercial unit and three residential units. The building was constructed in 1910 and has been recently fully renovated. All four units are occupied, including the commercial space and the three residential apartments. B2 zoning supports the property’s mixed-use profile.
The 0.1179-acre parcel sits on a corner lot and includes off-street parking. The property is positioned near public transportation, shopping, restaurants, major highways, and the beach. With an estimated 8% cap rate and a fully leased configuration, the asset is suited to investors or owner-occupants seeking a combined commercial and residential property.
The 0.1179-acre parcel sits on a corner lot and includes off-street parking. The property is positioned near public transportation, shopping, restaurants, major highways, and the beach. With an estimated 8% cap rate and a fully leased configuration, the asset is suited to investors or owner-occupants seeking a combined commercial and residential property.
Key Highlights
- 8,672 square feet with one commercial unit and three residential units
- Recently fully renovated building originally constructed in 1910
- All four units are fully occupied
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
$164,551
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
9.17%
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%
$3,291,020
$3.3M
Cap Rate 7%
$2,350,729
$2.4M
Cap Rate 9%
$1,828,344
$1.8M
Market Conditions
NOI Build-Up for 8,672 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
$286.2K $33.00/SF
− Vacancy
−$22.9K −$2.64/SF
EGI
$263.3K $30.36/SF
− OpEx
−$98.7K −$11.39/SF
NOI
$164.6K $18.98/SF
Area
Lynn, MA
Vacancy
8.00%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
37.50%
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%
$3,291,020
Cap Rate 7%
$2,350,729
Cap Rate 9%
$1,828,344
Alternative Uses
Best Use
Mixed Use
$2.35M
$2.06M – $2.74M
NOI $164,551 @ 7.0% cap · market cap 9.17%
Second Best
Retail
$2.21M
$1.94M – $2.58M
NOI $154,886 @ 7.0% cap · market cap 8.63%
Theoretical Best
Office A
$3.07M
$2.68M – $3.58M
NOI $214,788 @ 7.0% cap · market cap 11.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,182
Businesses Nearby
Explore this area
Business Placement
Demographics for 01902, MA
50,725
Population
19,655
Households
2.6
Avg Household Size
35
Median Age
20%
College-Educated
75%
High-School Grad
2.4 sq mi
ZIP Area
21,135
Density / Sq Mi
$66,755
Median Household Income
$39,506
Median Earnings
$1,571
Median Rent
$456,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied commercial and residential configuration with corner-lot positioning and off-street parking.
Where is this mixed-use property located?
The property is located at 90 Essex St Lynn, MA.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: 8,672 square feet with one commercial unit and three residential units; Recently fully renovated building originally constructed in 1910; All four units are fully occupied
