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Property profile & analytics
OFF-MARKET
Estimated value
$3,535,000
Showrooms
50 Silsbee St, Lynn, MA 01901-1411
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US38-0818905
Property summary
AI-generated overview
The Onyx, a Class A, six-story apartment building in Lynn, Massachusetts, presents a unique redevelopment opportunity. This fully permitted 180,674 square foot complex boasts 129,468 square feet of net rentable area, housing 182 units: 36 studios, 61 one-bedroom, 12 one-bedroom with dens, and 72 two-bedroom apartments, plus one commercial unit suitable for a cafe or restaurant. The asking price is $12,285,000, translating to $68 per square foot and $67,500 per unit. Conveniently located directly adjacent to the new commuter rail station, The Onyx offers unparalleled access to Boston. Residents enjoy 101 sub-ground parking spaces and upscale amenities including a fitness center, golf simulator, and movie theater. Complete construction documents are available. A potential joint venture opportunity exists for qualified investors. This exceptional property represents a prime investment in a rapidly growing market. The address is 50 Silsbee St, Lynn, MA 01901, within Essex County.
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1950
Construction
STEEL FRAME
Total area
6,280 SF
Lot
1.09 ac (47,545 SF)
Zoning code
CBD
APN
LYNN M:082 B:615 L:037
UPID
US38-0818905
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.79M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.54M
Owner & transaction history
50 Silsbee Street LLC · 5 yrs held
50 Silsbee Street LLC
since 2021
Last sale
$3.4M
3 recorded transactions
Zoning & alternative use
CBD · Lynn, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.2M
+143.9%
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
$3,555,000
ML approach
$3,785,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$2,170,000
Change: +144% · Conversion: Difficult
Blend value · Realmo final
$3.54M
Range $3.18M – $3.89M · ±10% · vs last sale $3.40M (Jun 24 2021)
Last sale anchor
$3.40M
Jun 24 2021
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
$563 / 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
$17,775
Tax year 2024
Assessed value
$880,800
Assessed 2024
Previous assessed
$880,800
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$629,800
Assessed improvement
$251,000
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1950
Construction
STEEL FRAME
Heating
FORCED AIR
Buildings
1
Stories
2
Units
1
Total area
6,280 SF
Lot
1.09 ac (47,545 SF)
Zoning code
CBD
APN
LYNN M:082 B:615 L:037
UPID
US38-0818905
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
RESTAURANT
Est. value
$2.2M
RESTAURANT
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
1950
Construction
STEEL FRAME
Heating
FORCED AIR
Stories
2
Buildings
1
Units
1
Lot
1.09 ac
Current owner
From public records · entity-resolved
50 Silsbee Street LLC
Entity
Mailing address
187 GRN ST, GREAT BARRINGTON, MA 01230
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 24, 2021
$3,399,000
50 Silsbee Street LLC
Illy LLC
Quit Claim Arm's Length For Ne States
$1,600,000 · Illy LLC
Jun 14, 2021
—
Illy LLC
—
Deed
related
$550,000 · Ilya Vasserman
Sep 26, 2013
$380,000
Illy LLC
Vlahos Bros INC
Quit Claim Deed
$380,000 · Vlahos Bros INC
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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