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Property profile & analytics
OFF-MARKET
Estimated value
$7,125,000
Investment properties
23 Central Ave, Lynn, MA 01901-1220
Entity Owned
12-yr Hold
Property ID
US38-1239095
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1914
Construction
STEEL FRAME
Total area
48,808 SF
Lot
0.24 ac (10,546 SF)
Zoning code
CBD
APN
LYNN M:068 B:630 L:001
UPID
US38-1239095
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Xiomara Reyes, LICSW Physician
-
Constables of Massachusetts Law Firm
-
Dr. Victoria Wolfson Physician
-
James Conway Physician Medical Clinic
-
Argentina Moreta Counselor Practitioner Service Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.13M
Owner & transaction history
Union 138 LLC · 12 yrs held
Union 138 LLC
since 2014
7 recorded transactions
Zoning & alternative use
CBD · Lynn, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$10.8M
+56.4%
Office building
$10.2M
+47.5%
Industrial (general)
$8.0M
+15.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lynn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lynn submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$6,905,000
Current use
RETAIL STORES
$10,800,000
Change: +56% · Conversion: Easy
OFFICE BUILDING
$10,185,000
Change: +47% · Conversion: Easy
INDUSTRIAL (GENERAL)
$7,990,000
Change: +16% · Conversion: Moderate
WAREHOUSE, STORAGE
$6,865,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$7.13M
Range $6.41M – $7.84M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$146 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2017Property tax & assessments
Tax year 2017
Tax billed
$36,773
Tax year 2017
Assessed value
$13,112,800
Assessed 2024
Previous assessed
$13,112,800
+0.0% YoY
Effective rate
0.28%
On assessed value
Assessed land
$4,182,000
Assessed improvement
$8,930,800
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1914
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
8
Units
51
Total area
48,808 SF
Lot
0.24 ac (10,546 SF)
Zoning code
CBD
APN
LYNN M:068 B:630 L:001
UPID
US38-1239095
Jurisdiction
LYNN
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
CBD · Lynn, MA
Zoning CBD · permitted uses
CBD · Lynn, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lynn. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$6.9M
RETAIL STORES
Est. value
$10.8M
OFFICE BUILDING
Est. value
$10.2M
INDUSTRIAL (GENERAL)
Est. value
$8.0M
WAREHOUSE, STORAGE
Est. value
$6.9M
COMMERCIAL (GENERAL) Current
RETAIL STORES
OFFICE BUILDING
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1914
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
8
Buildings
2
Units
51
Lot
0.24 ac
Current owner
From public records · entity-resolved
Union 138 LLC
Entity
Mailing address
50 FRANKLIN ST STE #400, BOSTON, MA 02110-1306
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 29, 2023
—
Union 138 LLC
—
Deed
related
$2,800,000 · Northern Bank & Trust Co
May 31, 2023
—
Union 1 38 LLC
—
Deed
related
$11,250,000 · Salem Five Cents Savings Bank
Dec 28, 2022
—
Union 138 LLC
—
Deed
related
$2,000,000 · First Boston Construction Holdings LLC
Jun 29, 2022
—
Union 138 LLC
—
Deed
related
$550,000 · First Boston Construction Holdings LLC
Jul 31, 2014
—
Union 138 LLC
—
Grant Deed
related
$250,000 · Nsbr LP
Jun 18, 2014
$2,000,000
Union 138 LLC
Lynn Portfoio LLC
Quit Claim Deed
related
$1,600,000 · Northern Bank & Trust Co
May 15, 2009
$5,110,875
Lynn Portfolio LLC
1st City LLC
Grant Deed
$3,590,000 · Digital FCU
Oct 31, 2003
—
Mayo Two LLC
—
Deed Of Trust
related
$1,200,000 · Citizens Bank Of Ma
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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