Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,500,000
Retail space
597 Essex St Lynn, MA 01901-1041
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US38-0425272
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1930
Construction
FRAME
Total area
6,110 SF
Lot
0.27 ac (11,733 SF)
Zoning code
BD
APN
LYNN M:069 B:642 L:022
UPID
US38-0425272
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
-
Ernie's Harvest Time Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.50M
CAP Approach
CAP
$1.68M
Comparable Approach
Comparable
$1.64M
Blend (final)
Blend
$1.50M
Owner & transaction history
Jc & Y Realty Group LLC · 1 yrs held
Jc & Y Realty Group LLC
since 2024
Last sale
$1.5M
3 recorded transactions
Zoning & alternative use
BD · Lynn, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.1M
+56.0%
Apartment house (5+ units)
$2.0M
+44.5%
Auto repair, garage
$1.7M
+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
$1,500,000
ML approach
$1,500,000
CAP Approach
CAP Return
Estimation
6%
$1,820,000
6.5%
$1,680,000
7%
$1,560,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,350,000
Current use
RESTAURANT
$2,110,000
Change: +56% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,955,000
Change: +45% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,655,000
Change: +22% · Conversion: Difficult
OFFICE BUILDING
$1,275,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$1.50M
Range $1.35M – $1.65M · ±10% · vs last sale $1.50M (Dec 11 2024)
Last sale anchor
$1.50M
Dec 11 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
$245 / 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
$19,349
Tax year 2024
Assessed value
$958,800
Assessed 2024
Previous assessed
$958,800
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$326,600
Assessed improvement
$632,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Lease
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
1930
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
2
Total area
6,110 SF
Lot
0.27 ac (11,733 SF)
Zoning code
BD
APN
LYNN M:069 B:642 L:022
UPID
US38-0425272
Jurisdiction
LYNN
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
BD · Lynn, MA
Zoning BD · permitted uses
BD · 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
$1.4M
RESTAURANT
Est. value
$2.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.3M
RETAIL STORES Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
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
1930
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
2
Lot
0.27 ac
Current owner
From public records · entity-resolved
Jc & Y Realty Group LLC
Entity
Mailing address
597 ESSEX ST, LYNN, MA 01901-1041
Mailing matches property
Yes
Owner-occupied
Yes
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 11, 2024
$1,500,000
Jc & Y Realty Group LLC
V S E E LLC
Deed
$1,875,000 · Everett Cooperative Bank
Jan 9, 2018
$759,999
Vsee LLC
Bomar RT
Quit Claim Arm's Length For Ne States
$367,500 · Leader Bank NA
Mar 29, 1995
—
RT Bomar
—
Deed Of Trust
related
$460,332 · Gary Needham
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 597 Essex St?
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.
