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Property profile & analytics
OFF-MARKET
Estimated value
$11,955,000
Investment properties
491 Washington St 507, Lynn, MA 01901-1306
Individually Owned
20-yr Hold
Property ID
US38-0944234
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1874
Construction
STEEL FRAME
Total area
93,079 SF
Lot
0.63 ac (27,333 SF)
Zoning code
CBD
APN
LYNN M:068 B:627 L:009
UPID
US38-0944234
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
-
JH One Properties Property Management Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$15.79M
Blend (final)
Blend
$11.96M
Owner & transaction history
Central Square RT · 20 yrs held
Central Square RT
since 2006
7 recorded transactions
Zoning & alternative use
CBD · Lynn, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$19.4M
+47.5%
Industrial (general)
$15.2M
+15.7%
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
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)
$13,170,000
Current use
OFFICE BUILDING
$19,425,000
Change: +47% · Conversion: Easy
INDUSTRIAL (GENERAL)
$15,240,000
Change: +16% · Conversion: Moderate
WAREHOUSE, STORAGE
$13,090,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$11.96M
Range $10.76M – $13.15M · ±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
$128 / 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
Assessed value
$18,494,400
Assessed 2024
Previous assessed
$18,494,400
+0.0% YoY
Assessed land
$4,888,000
Assessed improvement
$13,606,400
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1874
Construction
STEEL FRAME
Heating
HOT WATER
Buildings
1
Stories
5
Units
102
Rooms
32
Bathrooms
103
Total area
93,079 SF
Lot
0.63 ac (27,333 SF)
Zoning code
CBD
APN
LYNN M:068 B:627 L:009
UPID
US38-0944234
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
COMMERCIAL (GENERAL) Current
Est. value
$13.2M
OFFICE BUILDING
Est. value
$19.4M
INDUSTRIAL (GENERAL)
Est. value
$15.2M
WAREHOUSE, STORAGE
Est. value
$13.1M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
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
1874
Construction
STEEL FRAME
Heating
HOT WATER
Stories
5
Buildings
1
Units
102
Rooms
32
Bathrooms
103
Lot
0.63 ac
Current owner
From public records · entity-resolved
Central Square RT
Individual
Mailing address
491 WASHINGTON ST #507, LYNN, MA 01901-1306
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 18, 2019
—
Kcmp Capital INC
—
Deed
related
$8,000,000 · Institution For Savings Newburyport
May 11, 2006
$1
Central Square RT
Mayo Group Dev LLC
Grant Deed
related
—
Oct 18, 2004
—
Mayo Two LLC
—
Deed Of Trust
related
$6,450,000 · Washington Mutual Bank
Apr 24, 2003
$1
Mayo Two LLC
Mcgrail,john
Grant Deed
related
—
Apr 24, 2003
—
Mayo Two LLC
—
Deed Of Trust
related
$6,600,000 · Anglo Irish Bank Corp
Apr 5, 2002
$49,200,000
John Mcgrail
Cerundolo Two RT
Grant Deed
$38,600,000 · Zenon Grzybowski
Dec 20, 1991
$1,000,000
Cerundolo Two RT
The Orso Co INC
Grant Deed
$1,000,000 · Zwi Kohorn
Apr 14, 1988
—
Peaveau Associates RT
—
Deed Of Trust
related
$161,490 · Lynn Dept Community Dev
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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