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Property profile & analytics
OFF-MARKET
Estimated value
$8,420,000
Commercial real estate
24 Broadway 3rd Ste 3 Lynnfield, MA 01940-2375
Entity Owned
Absentee Owner
Free & Clear
Property ID
US38-1914135
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Year built
1991
Construction
CONCRETE
Total area
50,572 SF
Lot
6.79 ac (295,598 SF)
Zoning code
LI
APN
LYNF M:0059 B:0003 L:1319
UPID
US38-1914135
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.42M
Owner & transaction history
LYNNFIELD PLAZA TRUST
LYNNFIELD PLAZA TRUST
Zoning & alternative use
LI · Lynnfield, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zone name
Limited Industrial
General category
INDUSTRIAL
Zone area
74.34 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$12.1M
+20.2%
Retail stores
$11.2M
+11.6%
Office building
$10.4M
+3.6%
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 Lynnfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lynnfield 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)
$10,080,000
Current use
AUTO REPAIR, GARAGE
$12,115,000
Change: +20% · Conversion: Difficult
RETAIL STORES
$11,245,000
Change: +12% · Conversion: Easy
OFFICE BUILDING
$10,440,000
Change: +4% · Conversion: Easy
INDUSTRIAL (GENERAL)
$8,280,000
Change: -18% · Conversion: Moderate
Blend value · Realmo final
$8.42M
Range $7.58M – $9.26M · ±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
$166 / 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
$258,831
Tax year 2024
Assessed value
$14,387,500
Assessed 2024
Previous assessed
$13,325,600
+8.0% YoY
Effective rate
1.80%
On assessed value
Assessed improvement
$14,387,500
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Status
Off-Market
Year built
1991
Construction
CONCRETE
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
4
Bathrooms
6
Total area
50,572 SF
Lot
6.79 ac (295,598 SF)
Zoning code
LI
APN
LYNF M:0059 B:0003 L:1319
UPID
US38-1914135
Jurisdiction
LYNNFIELD
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
LI · Lynnfield, MAZoning LI · permitted uses
LI · Lynnfield, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zone name
Limited Industrial
General category
INDUSTRIAL
Zone area
74.34 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$10.1M
AUTO REPAIR, GARAGE
Est. value
$12.1M
RETAIL STORES
Est. value
$11.2M
OFFICE BUILDING
Est. value
$10.4M
INDUSTRIAL (GENERAL)
Est. value
$8.3M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
INDUSTRIAL (GENERAL)
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
1991
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
4
Bathrooms
6
Lot
6.79 ac
Current owner
From public records · entity-resolved
LYNNFIELD PLAZA TRUST
Entity
Free & Clear · 0 yrs held
Mailing address
1900 CROWN COLONY DR #4, QUINCY, MA 02169-0979
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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