Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,300,000
Retail space
497 Lynnway Lynn, MA 01905-3028
Entity Owned
2-yr Hold
Free & Clear
Property ID
US38-1033384
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1940
Construction
FRAME
Total area
13,924 SF
Lot
0.54 ac (23,519 SF)
Zoning code
WF1
APN
LYNN M:051 B:748 L:034
UPID
US38-1033384
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
-
LOGAN FURNITURE Furniture & Home Goods Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.30M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.16M
Blend (final)
Blend
$2.30M
Owner & transaction history
Lynn Stepien LLC · 2 yrs held
Lynn Stepien LLC
since 2024
Last sale
$2.3M
7 recorded transactions
Zoning & alternative use
WF1 · Lynn, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.8M
+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
$2,300,000
ML approach
$2,300,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$3,080,000
Current use
AUTO REPAIR, GARAGE
$3,765,000
Change: +22% · Conversion: Difficult
OFFICE BUILDING
$2,905,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$2.30M
Range $2.07M – $2.53M · ±10% · vs last sale $2.30M (May 17 2024)
Last sale anchor
$2.30M
May 17 2024
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
$165 / 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
$34,645
Tax year 2024
Assessed value
$1,716,800
Assessed 2024
Previous assessed
$1,716,800
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$790,200
Assessed improvement
$926,600
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1940
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Total area
13,924 SF
Lot
0.54 ac (23,519 SF)
Zoning code
WF1
APN
LYNN M:051 B:748 L:034
UPID
US38-1033384
Jurisdiction
LYNN
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
WF1 · Lynn, MA
Zoning WF1 · permitted uses
WF1 · 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
$3.1M
AUTO REPAIR, GARAGE
Est. value
$3.8M
OFFICE BUILDING
Est. value
$2.9M
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
1940
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Lot
0.54 ac
Current owner
From public records · entity-resolved
Lynn Stepien LLC
Entity
Free & Clear · 2 yrs held
Mailing address
497 LYNNWAY, LYNN, MA 01905-3028
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 17, 2024
$2,300,000
Lynn Stepien LLC
Wlpo Realty LLC
Quit Claim Arm's Length For Ne States
—
Jun 10, 2020
$1,310,000
Wlpo Realty LLC
497 Lynnway RT
Quit Claim Arm's Length For Ne States
$982,500 · East Boston Savings Bank
Sep 6, 2005
—
497 Lynnway RT
—
Deed Of Trust
related
$150,000 · Pac RT
May 31, 2005
—
Media Vision INC
—
Deed Of Trust
related
$130,000 · East Boston Savings Bank
Oct 23, 2003
—
497 Lynnway RT
—
Deed Of Trust
related
$645,000 · Pac RT
Jun 2, 2003
—
497 Lynnway RT
—
Deed Of Trust
related
$500,000 · Pac RT
Jan 30, 2001
—
497 Lynnway RT
—
Deed Of Trust
related
$225,000 · Tony J Sillari
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 497 Lynnway?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
