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Property profile & analytics
OFF-MARKET
Estimated value
$680,000
Retail space
24 Mt Vernon St, Lynn, MA 01901-1427
Entity Owned
4-yr Hold
Free & Clear
Property ID
US38-1795958
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1923
Construction
STEEL FRAME
Total area
2,850 SF
Lot
0.06 ac (2,541 SF)
Zoning code
CBD
APN
LYNN M:082 B:597 L:005
UPID
US38-1795958
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
-
MV24 Lofts Apartment Building
-
24 Mount Vernon Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$590k
CAP Approach
CAP
$785k
Comparable Approach
Comparable
$684k
Blend (final)
Blend
$680k
Owner & transaction history
2 Mount Vernon LLC · 4 yrs held
2 Mount Vernon LLC
since 2022
Last sale
$696,000
3 recorded transactions
Zoning & alternative use
CBD · Lynn, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$770,000
+22.3%
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
$640,000
ML approach
$590,000
CAP Approach
CAP Return
Estimation
6%
$850,000
6.5%
$785,000
7%
$725,000
Alternative Use
Use
Estimation
RETAIL STORES
$630,000
Current use
AUTO REPAIR, GARAGE
$770,000
Change: +22% · Conversion: Difficult
OFFICE BUILDING
$595,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$680k
Range $612k – $748k · ±10% · vs last sale $696k (Mar 14 2025)
Last sale anchor
$696k
Mar 14 2025
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
$239 / 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
$8,080
Tax year 2024
Assessed value
$400,400
Assessed 2024
Previous assessed
$400,400
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$130,200
Assessed improvement
$270,200
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1923
Construction
STEEL FRAME
Heating
FORCED AIR
Buildings
1
Stories
1
Units
2
Total area
2,850 SF
Lot
0.06 ac (2,541 SF)
Zoning code
CBD
APN
LYNN M:082 B:597 L:005
UPID
US38-1795958
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
RETAIL STORES Current
Est. value
$630,000
AUTO REPAIR, GARAGE
Est. value
$770,000
OFFICE BUILDING
Est. value
$595,000
RETAIL STORES Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1923
Construction
STEEL FRAME
Heating
FORCED AIR
Stories
1
Buildings
1
Units
2
Lot
0.06 ac
Current owner
From public records · entity-resolved
2 Mount Vernon LLC
Entity
Free & Clear · 4 yrs held
Mailing address
70 BALDWIN ST, LYNN, MA 01902-4964
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 13, 2022
$350,000
2 Mount Vernon LLC
Jody Jordankiley
Quit Claim Arm's Length For Ne States
—
Jun 1, 2015
$177,500
Stephen E Kiley
Robinson Gary W
Quit Claim Deed
—
May 11, 1994
$65,000
Gary W Robinson
Mt Pleasant Pl
Grant Deed
—
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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