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Property profile & analytics
OFF-MARKET
Estimated value
$1,270,000
Manufacturing properties
23 Farrar St, Lynn, MA 01901-1601
Individually Owned
2-yr Hold
Free & Clear
Property ID
US38-0550716
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1940
Construction
STEEL FRAME
Total area
13,172 SF
Lot
0.19 ac (8,470 SF)
Zoning code
CBD
APN
LYNN M:082 B:591 L:009
UPID
US38-0550716
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
-
Sterling Machine Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.38M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.58M
Blend (final)
Blend
$1.27M
Owner & transaction history
Not Too Farrar The Tree L · 2 yrs held
Not Too Farrar The Tree L
since 2024
Last sale
$925,000
7 recorded transactions
Zoning & alternative use
CBD · Lynn, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$1,500,000
ML approach
$1,380,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,865,000
Change: -14% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,850,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$1.27M
Range $1.14M – $1.40M · ±10% · vs last sale $925k (Mar 18 2024)
Last sale anchor
$925k
Mar 18 2024
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
$96 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$13,644
Tax year 2024
Assessed value
$676,100
Assessed 2024
Previous assessed
$676,100
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$262,800
Assessed improvement
$413,300
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1940
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
2
Units
1
Bathrooms
1
Total area
13,172 SF
Lot
0.19 ac (8,470 SF)
Zoning code
CBD
APN
LYNN M:082 B:591 L:009
UPID
US38-0550716
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)
Est. value
$1.9M
WAREHOUSE, STORAGE
Est. value
$1.9M
COMMERCIAL (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
1940
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
Yes
Stories
2
Buildings
1
Units
1
Bathrooms
1
Lot
0.19 ac
Current owner
From public records · entity-resolved
Not Too Farrar The Tree L
Individual
Free & Clear · 2 yrs held
Mailing address
108 UN WHARF ST, BOSTON, MA 02109-1281
Ownership since
2024
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 18, 2024
$925,000
Not Too Farrar The Tree L
23 Farrar St LLC
Deed
—
Nov 29, 2022
$1,250,000
23 Farrar Street LLC
23 Farrar Street Lynn Nt
Quit Claim Arm's Length For Ne States
$750,000 · Reading Cooperative Bank
Mar 8, 2019
$700,000
Kcmp Cap INC
23 Farrar LLC
Quit Claim Deed
$525,000 · Institution For Svgs Newburypo
Nov 28, 2018
—
23 Farrar LLC
—
Deed
related
$350,000 · Miscellaneous Fin & Mtg Co
Nov 16, 2018
$450,000
23 Farrar LLC
23 Farrar
Quit Claim Deed
related
$360,000 · Northern Bk
Jan 20, 1993
—
23 Farrar RT
—
Deed Of Trust
related
$130,000 · Superior Sales & Leas
Sep 11, 1987
—
23 Farrar RT
—
Deed Of Trust
related
$192,147 · Baybank Middlesex
—
—
23 Farrar LLC
—
Deed Of Trust
related
$350,000 · Miscellaneous Fin & Mtg Co
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.
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