229 Lewis St Lynn, MA 01902
- Commercial real estate
- 0.13 lot acres
Current Use by Public Records
- Yanelis mini market & deli corp / Grocery Store
Property Details for 229 Lewis St
- Year built
- 2010
- Lot size
- 0.13 lot acres
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a 10-unit mixed-use brick building situated on a 0.13-acre lot at 229 Lewis Street in Lynn, Massachusetts. Constructed from the ground up in 2010, this property boasts significant recent upgrades, including a newer roof, plumbing, electrical system, and commercial-grade central air conditioning. Safety features are comprehensive with a hard-wired smoke and sprinkler system installed throughout. The building's layout comprises five commercial retail units on the ground floor, generating consistent income with built-in annual rent increases. Above, the second and third floors house five three-bedroom, one-bathroom apartments, all in excellent condition and equipped with washer and dryer hookups. A key advantage is that tenants are responsible for all utilities. All units are currently leased, ensuring immediate cash flow. The property is meticulously maintained, with absolutely no deferred maintenance. This turnkey investment offers a rare chance to acquire a high-return asset with minimal ongoing expenses. Furthermore, a profitable laundry mat business is included in the sale at no additional cost, adding further value to this already impressive offering. The asking price for this exceptional property is $3,900,000.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lynn
- County
- Essex
- State
- Massachusetts
- Longitude
- -70.9344
- Latitude
- 42.4645
