Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    406 Eastern Ave Lynn, MA 01902-1896
    Back to Search
    Property profile & analytics

    406 Eastern Ave, Lynn, MA 01902-1896

    View on Map
    • Investment properties
    • 4,272 SF
    • 0.11 lot acres
    Off-Market
    Last Sale Nov 19, 2021
    $755,000
    Property ID
    US38-0911749
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $720,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mass. Music T.Y.B.G Record Label Office / DJ & Entertainment / Business Service Center

    Property Details for 406 Eastern Ave

    Year built
    1900
    Construction
    FRAME
    Lot size
    0.11 lot acres
    Zone code
    R1
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    LYNN M:096 B:464 L:046
    APU
    LYNNM096B464L046

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 19, 2021 $755,000 Charles Sarcia Sarcia 406 Eastern Ave RT Quit Claim Arm's Length For Ne States —
    Apr 2, 2003 $1 Sarcia 406 Eastern Avenue Sarcia,suzanne Grant Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $660,000
      ML approach
      $700,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $562,000
      Market price range: $553k - $934k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $700,000
      Current use
      AUTO REPAIR, GARAGE
      $1,155,000
      Change: +65% Conversion: Difficult
      RETAIL STORES
      $945,000
      Change: +35% Conversion: Easy
      OFFICE BUILDING
      $890,000
      Change: +27% Conversion: Easy
      WAREHOUSE, STORAGE
      $600,000
      Change: -14% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lynn
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.9335
    Latitude
    42.4788
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $0.00
    $192,000
    $436,800
    $628,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.35 Acres

      57 Washington St, Unit 63

      OFFICE/RESIDENTIAL (MIXED USE)
      57 Washington St, Lynn, MA 01902-4709
      View Details
    • Value Estimation by Request
      4,084 SF

      45 Franklin St

      OFFICE/RESIDENTIAL (MIXED USE)
      45 Franklin St, Lynn, MA 01902-4107
      View Details
    • Value Estimation
      $925,000
      6,668 SF

      143-145 Franklin St

      OFFICE/RESIDENTIAL (MIXED USE)
      143-145 Franklin St, Lynn, MA 01902
      View Details
    • Value Estimation by Request
      2,637 SF

      90 Aly St

      OFFICE/RESIDENTIAL (MIXED USE)
      90 Aly St, Lynn, MA 01902-4405
      View Details
    • Value Estimation by Request
      0.13 Acres

      44 Beacon Hl Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      44 Beacon Hl Ave, Lynn, MA 01902-3701
      View Details
    • Value Estimation
      $625,000
      4,687 SF

      203-207 Washington St

      OFFICE/RESIDENTIAL (MIXED USE)
      203-207 Washington St, Lynn, MA 01902
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,000 SF

      Renovated Mixed-Use Property in Lynn

      Four-unit mixed-use property with commercial and residential spaces.
      431-433 Chatham St, Lynn, MA 01902
      View Details
    • Contact for pricing

      Renovated Mixed-Use Property in Lynn

      Fully renovated mixed-use property with commercial and residential units.
      431-433 Chatham St, Lynn, MA 01902
      View Details
    • Contact for pricing
      4,000 SF

      Renovated Mixed-Use Property in Lynn

      Four-unit mixed-use property with commercial and residential spaces.
      431-433 Chatham St, Lynn, MA 01902
      View Details
    • Contact for pricing

      Renovated Multifamily Building Near Transportation

      Newly renovated nine-unit building near transportation and local amenities.
      207 Chestnut St, Lynn, MA 01902
      View Details
    • Contact for pricing
      10,684 SF

      Mixed-Use Building in Downtown Lynn

      Mixed-use investment opportunity with residential and retail spaces.
      7 Broad St, Lynn, MA 01902
      View Details
    • Contact for pricing

      Spacious Multi-Family Property in Lynn

      Multi-family property with thirteen bedrooms and ample living space.
      121 Common St N, Lynn, MA 01902
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Warehouse with Offices For Lease

      Spacious warehouse with offices, convenient location, ample parking.
      63 Goodridge St, Lynn, MA 01902
      View Details
    • Contact for pricing
      548 SF

      New Retail & Restaurant Space

      New construction retail and restaurant spaces available for immediate occupancy.
      75 Baldwin St, Lynn, MA 01902
      View Details
    • Contact for pricing
      1,500 SF

      Remodeled Commercial Space on Chatham

      Newly remodeled 1500 sq ft commercial space for rent.
      431-433 Chatham St, Lynn, MA 01902
      View Details
    • Contact for pricing
      800 SF

      Renovated Commercial Space Available

      Newly renovated commercial space suitable for store, office, or salon.
      431-433 Chatham St, Lynn, MA 01902
      View Details
    • Contact for pricing

      Functional Industrial Space Available

      Turnkey industrial building with high ceilings and flexible space.
      47 Alley St, Lynn, MA 01902
      View Details
    • Contact for pricing
      5,104 SF

      Functional Industrial Space Available

      Turnkey 5,104 SF industrial building for lease.
      47 Alley St, Lynn, MA 01902
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    406 Eastern Ave
    Lynn, MA 01902-1896
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    406 Eastern Ave, Lynn, MA, 01902
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!