Historic Vineyard
New
For Sale
$2,950,000
11 Marbleridge Road, North Andover, MA 01845
Winery property with historic barns, three guesthouses, and a separately buildable lot.
Property Size6,426 SF
Price / SF$459.07
Days on Market6
Property Features for 11 Marbleridge Road
General Information
Standard status
Active
Size
6,426 SF
Property subtype
Commercial
Building Details
Year Built
2004
Listing Agency:
LandVest, Inc., Manchester -by-the-Sea
(978) 590-0056
Listed By:
Lanse Robb
(978) 590-0056
Source:
Landvest
Added: Aug 6
Changed: Aug 10
Last Checked: Aug 11 at 10:31AM
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 LandVest, Inc., Manchester -by-the-Sea
Investment Insights
Based on property information with market context.
This Vineyard property combines a main residence with an operating winery destination, historic barns, vineyard acreage, open fields, mature woodlands, meadows, and stone walls. The barns contain tasting rooms, while three restored guesthouses are used for short-term rentals. The estate also includes a separately buildable lot with vineyard and open space, providing room for an additional residence or guesthouse.
The property carries no preservation restrictions, supporting a range of potential directions for the historic buildings and outbuildings. Existing features can accommodate continued winery and hospitality operations, a private family compound, equestrian use, farm activities, studios, workshops, collector garages, event spaces, or recreational purposes. Located at 11 Marbleridge Road in North Andover, Massachusetts, the estate is positioned near schools, villages, dining, cultural attractions, and commuter routes.
The property carries no preservation restrictions, supporting a range of potential directions for the historic buildings and outbuildings. Existing features can accommodate continued winery and hospitality operations, a private family compound, equestrian use, farm activities, studios, workshops, collector garages, event spaces, or recreational purposes. Located at 11 Marbleridge Road in North Andover, Massachusetts, the estate is positioned near schools, villages, dining, cultural attractions, and commuter routes.
Key Highlights
- Operating winery with tasting rooms in historic barns
- Three restored guesthouses used for short‑term rentals
- Separately buildable lot with vineyard and open space
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
$97,716
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
3.31%
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%
$1,954,320
$2.0M
Cap Rate 7%
$1,395,943
$1.4M
Cap Rate 9%
$1,085,733
$1.1M
Market Conditions
NOI Build-Up for 6,426 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
$185.1K $28.80/SF
− Vacancy
−$7.4K −$1.15/SF
EGI
$177.7K $27.65/SF
− OpEx
−$79.9K −$12.44/SF
NOI
$97.7K $15.21/SF
Area
Essex County, MA
Vacancy
4.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,954,320
Cap Rate 7%
$1,395,943
Cap Rate 9%
$1,085,733
Alternative Uses
Best Use
Apartment 5plus
$1.40M
$1.22M – $1.63M
NOI $97,716 @ 7.0% cap · market cap 3.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.80M
$3.33M – $4.44M
NOI $266,292 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
43
Businesses Nearby
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Vineyard - Winery property with historic barns, three guesthouses, and a separately buildable lot.
Where is this vineyard located?
The property is located at 11 Marbleridge Road North Andover, MA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Operating winery with tasting rooms in historic barns; Three restored guesthouses used for short‑term rentals; Separately buildable lot with vineyard and open space
