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Property profile & analytics
FOR LEASE
Super regional malls
400 Lynn Fells Pkwy, Saugus, MA 01906
Entity Owned
Absentee Owner
Free & Clear
Property ID
US38-1192715
For Lease
1 / 3
$3,495,000
400 Lynn Fells Pkwy, Saugus, MA 01906
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Property summary
AI-generated overview
Target Plaza presents a prime retail leasing opportunity in Essex County. This vibrant strip center boasts a total of 161,975 square feet, with a significant 54,863 square feet currently available for lease. The space is sub-dividable, offering flexibility for businesses of various sizes. The property benefits from exceptional visibility and accessibility, situated in a high-traffic area with a daily count of 115,030 vehicles on Route 1 and an additional 20,000 vehicles on Lynn Fells Parkway. Ample parking is provided with 803 spaces, a generous ratio of 4.96 spaces per 1,000 square feet, ensuring convenient access for customers and employees. This is an exceptional opportunity to establish or expand your business in a thriving retail environment with strong foot traffic and convenient parking. The property's size and location make it ideal for a variety of retail uses. Contact us today to learn more about this exceptional leasing opportunity.
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1960
Total area
162,138 SF
Lot
15.88 ac (691,733 SF)
Zoning code
NA
APN
SAUG M:013-D B:0001 L:0001
UPID
US38-1192715
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
-
CVS Pharmacy Pharmacy
-
Starbucks Cafe & Coffee Shop
-
Target Mobile Mobile Phone Store Electronics & Wireless Store
-
Target Grocery Grocery & Convenience Store Food Market
-
CVS Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.50M
Owner & transaction history
GERONDELIS FOUNDATION INC
GERONDELIS FOUNDATION INC
Zoning & alternative use
NA · Saugus, 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 Saugus submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Saugus 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$22 / 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
$424,324
Tax year 2024
Assessed value
$19,243,700
Assessed 2024
Previous assessed
$19,243,700
+0.0% YoY
Effective rate
2.21%
On assessed value
Assessed land
$8,144,600
Assessed improvement
$11,099,100
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
For Lease
Year built
1960
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
2
Bathrooms
6
Total area
162,138 SF
Lot
15.88 ac (691,733 SF)
Zoning code
NA
APN
SAUG M:013-D B:0001 L:0001
UPID
US38-1192715
Jurisdiction
SAUGUS
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
NA · Saugus, MA
Zoning NA · permitted uses
NA · Saugus, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Saugus. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1960
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
2
Bathrooms
6
Lot
15.88 ac
Current owner
From public records · entity-resolved
GERONDELIS FOUNDATION INC
Entity
Free & Clear · 0 yrs held
Mailing address
56 CENTRAL AVE, LYNN, MA 01901-1140
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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