423-427 Union St, Lynn, MA 01901
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$495,000
Type: Mixed Use
Lease Type N/A
SQFT: N/A
N/A Restrooms
Parking: N/A

Property Description

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 tap to expand

Property Information

  • Type: Mixed Use
  • Location: Legal Conforming
  • MLS ID#: 73395298

Construction & Utilities

  • Utilities: Natural Gas, Public Sewer, Public Water

Property History tap to expand

Date Event Price Price/Sq Ft Source
06/27/2025Active$495,000$339MLSPIN
06/27/2025Active$495,000MLSPIN
06/23/2025New$495,000$339MLSPIN
06/23/2025New$495,000MLSPIN
10/03/2024Canceled$695,000MLSPIN
10/03/2024Extended$695,000MLSPIN
06/21/2024Active$695,000MLSPIN
06/17/2024Price Change$695,000MLSPIN
06/11/2024Active$795,000MLSPIN
06/07/2024New$795,000MLSPIN

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Seller's Representative: Chris McNamara, McNamara Realty, Inc.
Sub Agent Compensation: n/a
Buyer Agent Compensation: n/a
Facilitator Compensation: n/a
Compensation Based On: n/a
Sub-Agency Relationship Offered: No

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MLS PIN data last updated at 2025-06-27 03:05:00