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Property profile & analytics
OFF-MARKET
Estimated value
$2,330,000
Assisted living facilities
28 Essex St, Lynn, MA 01902-1754
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US38-0782008
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1962
Construction
FRAME
Total area
19,350 SF
Lot
0.87 ac (38,000 SF)
Zoning code
R1
APN
LYNN M:104 B:429 L:007
UPID
US38-0782008
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
-
Abbott Skilled Nursing & Rehabilitation Center Nursing Home
-
Abbott Skilled Nursing and Rehabilitation Center Nursing Home
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.51M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.33M
Owner & transaction history
Lynn Healthcare Prop LLC · 3 yrs held
Lynn Healthcare Prop LLC
since 2022
Last sale
$2.1M
6 recorded transactions
Zoning & alternative use
R1 · Lynn, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.4M
+228.9%
Retail stores
$3.2M
+210.4%
Auto repair, garage
$3.0M
+190.8%
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
$2,555,000
ML approach
$2,505,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,380,000
Change: +229% · Conversion: Difficult
RETAIL STORES
$3,190,000
Change: +210% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,990,000
Change: +191% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,550,000
Change: +148% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,690,000
Change: +64% · Conversion: Difficult
Blend value · Realmo final
$2.33M
Range $2.10M – $2.56M · ±10% · vs last sale $2.13M (Aug 1 2022)
Last sale anchor
$2.13M
Aug 1 2022
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
$120 / 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
$35,767
Tax year 2024
Assessed value
$1,772,400
Assessed 2024
Previous assessed
$1,772,400
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$806,800
Assessed improvement
$965,600
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1962
Construction
FRAME
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
2
Units
51
Rooms
51
Bathrooms
26
Total area
19,350 SF
Lot
0.87 ac (38,000 SF)
Zoning code
R1
APN
LYNN M:104 B:429 L:007
UPID
US38-0782008
Jurisdiction
LYNN
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
R1 · Lynn, MA
Zoning R1 · permitted uses
R1 · 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
OFFICE BUILDING
Est. value
$3.4M
RETAIL STORES
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$3.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$1.7M
OFFICE BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (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
1962
Construction
FRAME
Heating
HOT WATER
Cooling
Yes
Stories
2
Buildings
1
Units
51
Rooms
51
Bathrooms
26
Lot
0.87 ac
Current owner
From public records · entity-resolved
Lynn Healthcare Prop LLC
Entity
Mailing address
28 ESSEX ST, LYNN, MA 01902-1754
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 1, 2022
$2,130,000
Lynn Healthcare Prop LLC
Alliance Health Of Lynn
Quit Claim Arm's Length For Ne States
$742,000 · Granite State Economic Development
Aug 1, 2022
—
Lynn Healthcare Prop LLC
—
Deed
related
$742,000 · Granite State Economic Development Corp
Feb 27, 2018
—
Alliance Health Of Lynn
Alliance Health Of Mass
Quit Claim Deed
related
—
Jan 11, 2001
—
Alliance Health Of Ma
—
Deed Of Trust
related
$23,737 · Sovereign Bank
May 7, 1999
—
House LP Abbott
—
Deed Of Trust
related
$5,500,000 · Fleet National Bank
Jun 23, 1995
—
House LP Abbott
—
Deed Of Trust
related
$1,000,000 · Gary Needham
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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