Lynnfield, MA Commercial Real Estate for Sale and Lease

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What to Expect

This Essex County town is about 10 miles north of Boston and had a population of roughly 11,600 at the time of the 2010 U.S. Census. In and around town, commercial real estate opportunities abound. Investors and business owners alike can choose from prime retail, industrial and office space for sale or lease.

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With a population of 11,596, this town in Essex County, Massachusetts, is ideal for a developer or investor who wants to combine the charm of rural space with the convenience of a nearby metropolis. In this case, Boston is only 14 miles away, making the 9.9 square miles of land in this municipality very desirable. Originally two separate villages, the town came together as one in 1814.

Recreation facilities and public green space can be found in the form of the Lynn Woods Reservation, the Ipswich River, and numerous ponds such as Reedy Meadow, Suntaug Lake, and Pilings Pond. The town is not without some elevation; Middleton Hill rises far enough above the city to provide beautiful views of the surrounding environment.

The town is relatively accessible by car. Route 1, Route 129, Route 128 and Interstate 95 cross through the area. Public transit is less common; there are no MBTA Commuter Rail stations within the city limits, although nearby towns do have the service.

Large tracts of commercially zoned land occasionally do come up for sale or lease in this area. The property at 2 Broadway has a mixed-use configuration, and offers 5.2 acres located directly next to Route 1. This particular lot is perfect for a developer who wants to create a structure that will benefit both the community and the bottom line. The rent for this property has not been disclosed.

Office Space Market

Office space in this town tends to either be clustered in modern office park-Iike complexes or charmingly retrofitted single-family residences that are located close to downtown. The 18,038 square foot property at 230 Broadway has a gorgeous central lobby with a glass wall, a grand central staircase, and plush furnishings in the lobby for visitors. This reception area creates an atrium-like space that is surrounded on the upper floors by balconies. The individual offices are located off these balconies. A glass-walled conference room and custom made workstations round out the interior amenities. Outside, lushly landscaped grounds surround the principal structure and a clubhouse. Parking is available onsite. Built in 1990, the estimated rent for this structure is $1.46 per square foot per month.

The gorgeously outfitted property at 210 Broadway offers oak paneled interiors with custom furnishings, as well as roomy tables in the conference rooms. A full kitchen with stainless steel appliances is located adjacent to the conference center, while the lobby features landscape elements within a large, enclosed central courtyard. Located off Route 1, the office space in this building is modern, elegant, and easily accessible. With 14,000 total square feet, the suites in this building range from 1,081 square feet to 2,280 square feet in size. Built in 1980, the sale price for this building depends on whether the purchaser decides to buy both parts of the building. It is therefore listed as being $167,500 for one property and $325,000 for both.

The office spaces in 6 Kimball Lane are housed within a stately multi-story brick and concrete structure located just off Interstate 95. With a roomy onsite parking lot and a spectacular enclosed central atrium, the structure has 107,695 square feet of leasable space. The units within this structure vary in size, but typically are designed for businesses that will use at least 4,000 square feet. Built in 1999, this fashionable building has not publicly released its estimated rent per square foot.

The 30,000 square foot office space at 50 Salem Street, meanwhile, offers a colonial-style rowhouse appearance, with multi-story views and adjacent parking lot. With a campus-like configuration and signature circular windows at the peak of the brick gables, the building is visually distinctive. Built in 1985, the estimated rent for this space is $1.42 a square foot per month.

Although construction on this property has yet to begin, the renderings for the proposed 65,000 square foot structure at 1150 Market Street promise ample, modern office space close to retail and other urban amenities. Located off Interstate 95, this multi-story development currently is leasing individual floors, although options for the creation of smaller units may be available depending on tenant needs. With an onsite parking lot and landscaping, the building promises to deliver a professional experience in a comfortable setting. The estimated rent for this structure has not been released.

Retail Space Market

The market for retail space in this town is primarily divided between historic buildings downtown and larger modern complexes off major routes. The property at 932 Lynnfield Street is located off Route 129, and features a stand-alone structure with 3,180 square feet of leasable space. With inviting storefront display windows and an adaptable interior, this space is ideal for a business seeking a prominent but boutique location. Built in 1930, the elegantly refurbished structure has an estimated rent of $1.25 a square foot per month.

The structure at 445 Broadway is a low-slung building with floor to ceiling storefront windows that overlook a parking lot. Located off Interstate 95, this highly accessible building has 2,800 square feet of leasable space, and an adaptable interior depending on the specific tenant configuration. Built in 1964, the stylish modern architecture remains a draw for visitors and residents alike. The rent for this freestanding property has not been disclosed.

Another small but well-located freestanding retail space is available at 4-8 Post Office Square. This wood-frame brick veneer building combines storefront retail windows with a drive-up sensibility. Located directly off Interstate 95, the 1,400 square foot building has two principal spaces, including a 1,045 square foot space. The estimated rent for this property is $1.75 per square foot per month.

For those seeking to lease property in a thriving business district, the corner lot at 600 Market Street is an excellent option. Completed in 2013, this building has 70,000 square feet of freestanding retail with large display windows on the ground floor and mullioned banks of windows on the upper floor. There are many different sizes of units available depending on how the tenant wishes to use the space. The estimated rent for this property has not been made publicly available.

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Commercial Property List