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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Auto shops
506 Lynnway, Lynn, MA 01905-3014
Individually Owned
Free & Clear
Property ID
US38-1178020
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1929
Construction
STEEL FRAME
Total area
2,638 SF
Lot
0.69 ac (29,999 SF)
Zoning code
WF3
APN
LYNN M:051 B:753 L:010
UPID
US38-1178020
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
-
Elite Iron Designs Inc Metal Fabrication Plant Factory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$440k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$572k
Blend (final)
Blend
$505k
Owner & transaction history
506 Lynnway RT
506 Lynnway RT
since 2025
6 recorded transactions
Zoning & alternative use
WF3 · Lynn, 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 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
$440,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$715,000
Current use
RETAIL STORES
$585,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$505k
Range $455k – $556k · ±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
$191 / 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
$22,878
Tax year 2024
Assessed value
$1,133,700
Assessed 2024
Previous assessed
$1,133,700
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$677,400
Assessed improvement
$456,300
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1929
Construction
STEEL FRAME
Heating
FORCED AIR
Buildings
1
Stories
1
Units
2
Bathrooms
2
Total area
2,638 SF
Lot
0.69 ac (29,999 SF)
Zoning code
WF3
APN
LYNN M:051 B:753 L:010
UPID
US38-1178020
Jurisdiction
LYNN
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
WF3 · Lynn, MA
Zoning WF3 · permitted uses
WF3 · 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
AUTO REPAIR, GARAGE Current
Est. value
$715,000
RETAIL STORES
Est. value
$585,000
AUTO REPAIR, GARAGE Current
RETAIL STORES
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
1929
Construction
STEEL FRAME
Heating
FORCED AIR
Stories
1
Buildings
1
Units
2
Bathrooms
2
Lot
0.69 ac
Current owner
From public records · entity-resolved
506 Lynnway RT
Individual
Free & Clear · 0 yrs held
Mailing address
500 LYNNWAY, LYNN, MA 01905-3014
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 21, 2025
—
506 Lynnway RT
Edward Lonigro
Quitclaim Deed
related
—
Oct 9, 2007
$1
Brine,madolyn Tr
Eastern Bk
Grant Deed
—
Jun 6, 2007
$500,000
Edward Lonigro
Ingalls,joan Tr
Grant Deed
—
Mar 23, 1995
$170,000
Sunrise RT
506 Lynnway RT
Grant Deed
—
Nov 20, 1992
—
506 Lynnway RT
—
Deed Of Trust
related
$320,000 · First Colonial Bank Saving
Feb 8, 1989
$32,000
506 Lynnway Rlty Tr
Kierstead,robert
Grant Deed
—
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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