Great opportunity to own and invest in Downtown Lynn. Commercial property located on Union Street, between Washington and Central Sq, one block from the Lynn Station commuter rail stop. Currently there are two retail units on the first floor (braid shop and a barber shop), and office spaces in need of repairs on the second level. The property is in the “Central Business District” zoning area, which is intended to support mixed-use development. Allows up to 10 stories by right, with opportunity for residential units atop ground-level commercial. Especially with close proximity to transit, an investment offers potential for maximum density and income, with a more streamlined approval process. Included in the photos are initial architectural mock-ups of a 5-story building, consisting of two commercial units on the first floor (or one larger unit), and five residential units consisting of three 2-BR apartments and two studios. These are not approved plans, just drawings.
Property Details
Price:
$495,000
MLS #:
73395298
Status:
Active Under Contract
Beds:
0
Baths:
0
Address:
423-427 Union St
Type:
Commercial
City:
Lynn
Listed Date:
Jun 23, 2025
State:
MA
ZIP:
01901
Lot Size:
832 sqft / 0.02 acres (approx)
Year Built:
1913
Schools
Interior
Exterior
Roof
Rubber
Financial
Tax Year
2025
Taxes
$3,021
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CRP: Certified Relocation Professional CRS: Certified Residential Specialist GRI: Graduate of Realtors Institute CBR: Certified Buyers Representative BSBA: Bachelor of Science in Business Administration. Babson College 1979 MBA: Master of Business Administration. Babson College 2002 James M. Joly is President and Principal-Owner of Boardwalk Real Estate Corp.,…
More About JamesCourtesy of McNamara Realty, LLC. The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.
423-427 Union St
Lynn, MA
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