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$ 1,100,000
Est. payment | /mo
8,712 Sqft Lot
$ 1,100,000
Est. payment | /mo
8,712 Sqft Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 73459110
HOA Y/N false
Year Built 1913
Annual Tax Amount $11,348
Tax Year 2025
Lot Size 8,712 Sqft
Acres 0.2
Property Description
Outstanding development opportunity located in the heart of Lynn's Central Business District. 8,577 sq. ft. footprint in the highly desirable R5 High-Density Residential District. This site is perfectly positioned for a multi-family redevelopment, with zoning that allows for conversion to apartments or condominiums by right. High-Density Zoning (R5): "By-Right" in Massive Buildable Area: Max FAR of 4.0 allows for up to 34,308 sq. ft. of total floor area. Vertical Potential: Height allowance up to 75 ft (approx. 5–6 stories) by right, with potential for more via special permit. Existing Structure: Solid 8,400 sq. ft. steel-frame industrial building with partially raised concrete floors. Originally permitted for 75-car interior storage, indicating significant open volume for creative reuse or redevelopment. Reach out for prospective zoning report!
Location
State MA
County Essex
Zoning R5
Direction Use GPS
Exterior
Utilities Available Public Water, Public Sewer
Others
Senior Community false
Listed by Coldwell Banker Realty - Marblehead
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Mike And Lee Mita
Broker-Associate | Lic# REB.0016449