Spa & Wellness Commercial
For Sale
$875,000
1019-1019 Osgood St, North Andover, MA 01845
Configured for wellness, salon, counseling, and other professional or retail uses with reception and private rooms.
Property Size2,495 SF
Price / SF$350.70
Days on Market73
Property Features for 1019-1019 Osgood St
General Information
Standard status
Active
Size
2,495 SF
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$13,346
Listing Agency:
RE/MAX Partners
(774) 696-1810
Listed By:
James Kalogeropoulos · License #9072828
(774) 696-1810
Source:
Exprealty
Added: Jun 1
Changed: Aug 12
Last Checked: Aug 12 at 5:47AM
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 RE/MAX Partners
Investment Insights
Based on property information with market context.
This 2,495-square-foot commercial condominium at 1019-1019 Osgood St in North Andover features a specialized interior layout for spa, wellness, medical aesthetics, salon, counseling, and other professional or retail operations. The space includes a reception area, 12 workstations, 3 private treatment or consultation rooms, 4 wash stations, multiple utility areas, and 2 half baths.
High-quality finishes and an established buildout support immediate occupancy with limited additional construction. The property also includes on-site parking and is positioned within a business corridor described as accessible and highly visible. The existing business may be available separately through negotiation.
High-quality finishes and an established buildout support immediate occupancy with limited additional construction. The property also includes on-site parking and is positioned within a business corridor described as accessible and highly visible. The existing business may be available separately through negotiation.
Key Highlights
- 2,495 SF commercial condominium at 1019‑1019 Osgood St, North Andover, MA
- Interior includes 12 workstations and a dedicated reception area
- 3 private treatment or consultation rooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$69,543
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.95%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,390,860
$1.4M
Cap Rate 7%
$993,471
$993.5K
Cap Rate 9%
$772,700
$772.7K
Market Conditions
NOI Build-Up for 2,495 SF
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.
Gross rent
$113.8K $45.60/SF
− Vacancy
−$21.0K −$8.44/SF
EGI
$92.7K $37.16/SF
− OpEx
−$23.2K −$9.29/SF
NOI
$69.5K $27.87/SF
Area
Essex County, MA
Vacancy
18.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,390,860
Cap Rate 7%
$993,471
Cap Rate 9%
$772,700
Alternative Uses
Best Use
Office B
$993.5K
$869.3K – $1.16M
NOI $69,543 @ 7.0% cap · market cap 7.95%
Second Best
Healthcare Medical
$657.5K
$575.3K – $767.1K
NOI $46,024 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,392 @ 7.0% cap · market cap 11.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
213
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 01845, MA
31,855
Population
12,010
Households
2.7
Avg Household Size
39
Median Age
61%
College-Educated
97%
High-School Grad
26.4 sq mi
ZIP Area
1,207
Density / Sq Mi
$134,319
Median Household Income
$64,592
Median Earnings
$2,113
Median Rent
$670,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Medi-Weightloss North Andover — 997 Osgood St, North Andover, MA 01845
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Configured for wellness, salon, counseling, and other professional or retail uses with reception and private rooms.
Where is this spa & wellness property located?
The property is located at 1019-1019 Osgood St North Andover, MA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 2,495 SF commercial condominium at 1019‑1019 Osgood St, North Andover, MA; Interior includes 12 workstations and a dedicated reception area; 3 private treatment or consultation rooms
