Totally Renovated Downtown Retail
1 Elm Sq #L9-2 Andover, MA 01810
New
1 Elm Sq #L9-2, Andover, MA, 01810
$435,305
For Sale
$435,305
Totally renovated retail suite with a flexible floor plan, 2 off-street parking spaces, and high downtown visibility.
Property Size2,353 SF
Price / SF$185
Days on Market6
Property Features for 1 Elm Sq #L9-2
General Information
- Standard status
- Active
- Size
- 2,353 SF
Building Details
- Year Built
- 1966
Listing Agency
Lillian Montalto Signature Properties
Listed by
Team Lillian Montalto
Source
Laerrealty
Added: Jul 12 Checked: Jul 17 at 2:31 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lillian Montalto Signature Properties
Investment Insights
Based on property information with market context.
This totally renovated commercial suite is offered for sale with a flexible floor plan designed to support a range of professional, retail, or service-oriented uses. The space also includes 2 off-street parking spaces.
Located in downtown Andover at 1 Elm Sq, Unit L9-2, the suite is positioned for strong exposure with both pedestrian and vehicle traffic. It is also described as convenient to major routes and commuter rail, supporting easy access for clients, customers, and employees.
The listing presents the property as part of a broader downtown mix that includes restaurants, retail shops, professional offices, and local amenities.
Located in downtown Andover at 1 Elm Sq, Unit L9-2, the suite is positioned for strong exposure with both pedestrian and vehicle traffic. It is also described as convenient to major routes and commuter rail, supporting easy access for clients, customers, and employees.
The listing presents the property as part of a broader downtown mix that includes restaurants, retail shops, professional offices, and local amenities.
Key Highlights
- Commercial space in downtown Andover at 1 Elm Square, built in 1966
- Totally renovated retail suite with a flexible floor plan
- Includes 2 off‑street parking spaces
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $56.5k | $24.00 |
| − Vacancy | −$1.2k | −$0.53 |
| EGI | $55.2k | $23.47 |
| − OpEx | −$16.6k | −$7.04 |
| NOI | $38.7k | $16.43 |
2,353 SF · lease $24.00/SF/yr · vacancy 2.20% · expense 30.00%
Alternative Uses
Best Use
Office B
$936.9K
$819.8K – $1.09M
NOI $65,585 @ 7.0% cap · market cap 15.07%
Second Best
Retail
$552.3K
$483.3K – $644.4K
NOI $38,661 @ 7.0% cap · market cap 8.88%
Theoretical Best
Office A
$1.39M
$1.22M – $1.63M
NOI $97,508 @ 7.0% cap · market cap 22.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Law Office of Andrew ...
Law Firm
Philip J Byers ...
Law Firm
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FAQs
What type of property is this?
Office units - Totally renovated retail suite with a flexible floor plan, 2 off-street parking spaces, and high downtown visibility.
Where is this office units located?
The property is located at 1 Elm Sq #L9-2 Andover, MA.
What is the asking price?
The asking price for this property is $435,305.
What are key features of this property?
This property features: Commercial space in downtown Andover at 1 Elm Square, built in 1966; Totally renovated retail suite with a flexible floor plan; Includes 2 off‑street parking spaces
