Property Description

Great opportunity to own and invest in Downtown Lynn. Located one block away from Lynn Station commuter rail stop. Prime spot for an owner occupant with either an office or apartment upstairs, and income-producing commercial tenants downstairs. Currently two retail units on the first floor, and office spaces in need of repairs on the second. 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 photos are initial architectural mock-ups of a 5-story building made up of two commercial units on the first floor (or one larger unit), and five residential units above consisting of three 2-BR apartments and two studios. These are not approved plans, just drawings.