108 Franklin St, Lynn, MA 01902

ACCESS & CONNECTIVITY

108 Franklin Street in Lynn, Massachusetts, provides convenient access to a range of regional transportation options. The property sits less than a mile from Lynn Station, where the MBTA Commuter Rail’s Newburyport/Rockport Line offers direct service to downtown Boston and North Shore destinations. Frequent MBTA bus routes, including the 424, 429, 435, and 450, run along nearby Franklin and Lyman Streets, linking residents to Central Square Lynn, Wonderland Station, and Revere. Wonderland Station on the Blue Line is about 5 miles away, providing a fast connection to East Boston and central Boston.

AREA AMENITIES & DEMAND DRIVERS

The Property offers convenient access to diverse amenities and strong demand drivers. Dining options nearby include The Blue Ox (American cuisine), Rossetti Restaurant and Antique Table (Italian), Nightshade Noodle Bar (Cajun and Creole), and Pho Minh Ky (Vietnamese). Retail is accessible at shopping centers along Highway 1 and downtown Lynn, featuring boutiques and daily necessities. The Lynn public school system serves the area with nearby elementary, middle, and high schools meeting educational needs. Lifestyle options include Lynn Heritage State Park (1.4 miles away), Lynn Woods Reservation (2.1 miles away), Saugus Ironworks Historic Site (3 miles away), and Revere Beach (4.4 miles away), providing outdoor recreation and cultural attractions. These elements combine to make the location desirable for residents seeking convenient urban living with rich lifestyle choices.

For drivers, Route 129 and U.S. Route 1 are easily accessible, enabling quick travel to Peabody, Saugus, and Interstate 95/Route 128. Logan International Airport lies roughly 10 miles south and can be reached in under 20 minutes, while major employment centers in downtown Boston are about a 30-minute drive. Altogether, 108 Franklin Street offers strong commuter convenience through its integration of rail, bus, and highway access within minutes of home.

VALUE-ADD POTENTIAL

In-place rents are below the current market rates; the opportunity exists to continue to upgrade unit interiors and common areas to drive rental rates in an urban-infill, high demand/supply constrained residential market.

UTILITIES

The Property is separately metered for electricity, which tenants pay directly. The Landlord is responsible for gas powered hot water and heat, common area electricity, and city water and sewer.

OFF-STREET PARKING & AMENITIES

The Property offers ample off-street parking with thirty-two (32) spaces available in a large lot to the front of the Property.

STRONG RENTAL DEMOGRAPHICS & DEMAND

More than 51,600 people live within 1 mile of the Property with an average household income of $88,082. Over 138,200 people reside within 3 miles of the Property with an average household income of $115,597.

QUALITY OF LIFE AMENITIES

A strong mix of urban convenience and coastal charm enhances quality of life for residents. The city features abundant outdoor amenities, including Lynn Woods Reservation, Lynn Shore and Red Rock Parks, and High Rock Tower, providing trails, beaches, and scenic ocean views. It’s revitalized downtown and Cultural District host art galleries, local shops, diverse dining options, and community events. Residents enjoy access to cultural institutions such as the Lynn Museum and Arts Center and Heritage State Park, as well as numerous parks, playgrounds, and recreational facilities. Excellent commuter access via Route 1A, Route 107, and the MBTA commuter rail further supports connectivity to Boston and the North Shore.

SOUTH HARBOR AND DEVELOPMENT PROJECTS

Lynn, Massachusetts is undergoing significant redevelopment and expansion driven by long-term planning and major investment in its waterfront and downtown areas. The city’s South Harbor project, a proposed $450 million mixed-use development, will transform 17.5 acres along the Saugus River with more than 850 residential units, retail and restaurant space, and a new public park and promenade. Nearby, Lynnway Park is revitalizing former industrial land into a hub for advanced manufacturing, creative industries, and light industrial use. The recently opened Lynn Harbor Park converted a 30-acre former landfill into vibrant public green space, adding trails, restored shoreline, and waterfront access. Citywide, new housing initiatives such as Solimine House, The Haven Project, and Harborlight Homes are expanding senior and affordable housing options, supported by an inclusionary zoning policy adopted in 2022.

Lynn’s broader vision is guided by Vision Lynn, the city’s 20-year comprehensive plan adopted in 2023, and Housing Lynn, a framework for inclusive, mixed-income growth. These plans promote transit-oriented development, zoning reform, and sustainable infrastructure investments, including the Northern Strand Trail extension and the MBTA garage redevelopment project. Together, these initiatives aim to enhance livability, create jobs, and improve connectivity while balancing affordability and environmental stewardship along Lynn’s evolving waterfront and urban core.