Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1274 Osgood Street #3-1st fl. North Andover North Andover, MA 1845

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $34 SF/Yr $4,913/Mo (calc)

    New street-level retail in North Andover's newest development.

    Type:Commercial
    Property size:
    1,734 SF
    Added:
    Feb 29, 2024
    Days on Market:
    791
    Last Refresh:
    Apr 5 at 8:08 pm

    Property Features for 1274 Osgood Street #3-1st fl. North Andover

    General Information

    Standard status
    Active
    Size
    1,734 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    2019

    We can help!

    Listing Contact
    Team Lillian Montalto

    Listing agent Team Lillian Montalto

    Listing office Lillian Montalto Signature Properties

    Listing date Feb 29, 2024

    Source Corcoran

    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

    Overview

    New Retail Space Available

    New street-level retail space is available in North Andover's newest development. The property is centrally located near major highways, Lawrence Airport, private schools, and Amazon’s largest distribution facility in New England. The location also includes 193 market-rate apartment homes on site. The property offers 1734 square feet of retail space. Construction is complete on the last building. Current tenants include Starbucks, Andiamo Restaurant + Bar, F45 Training, DaVinci Salon Medi Spa, Passion Nails, Wrap City Sandwiches and Liquor Junction. The intended use of the property is retail.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    North Andover
    County
    Essex
    State
    Massachusetts
    Longitude
    -71.0866
    Latitude
    42.6711

    Nearby Similar for Lease

    • $19 SF/Yr

      Renovated Retail/Office Condo For Lease

      5,439 SF Class A condo, renovated in 2023.
      989-995 Osgood #989-995, North Andover, MA 01845
      View Details
    • $2,950/Mo

      Bright Office Space For Rent

      Modern office space with private offices and open floorplan.
      1820 Turnpike St #200, North Andover, MA 01845
      View Details
    • $1,200/Mo

      Sutton Street Office Space Available

      Second floor corner unit with flexible floor plan in North Andover.
      231 Sutton Street #2G, North Andover, MA 01845
      View Details
    • $1,400/Mo

      Turnkey Office Suite For Rent

      Versatile 620 SF office suite in North Andover.
      565 Turnpike St, North Andover, MA 01845
      View Details
    • $19 SF/Yr

      Renovated Retail/Office Condo For Lease

      5,439 SF Class A condo, renovated in 2023.
      989-995 Osgood #989-995, North Andover, MA 01845
      View Details
    • $1,500/Mo

      Professionally Managed Office Suite

      Second floor office suite with elevator access and parking.
      70 Main St #203, North Andover, MA 01845
      View Details
    • Sponsored
      Contact for pricing

      MA, North Andover - Osgood Street

      1274 Osgood St, North Andover, MA 01845
      View Details
    • $1,700/Mo

      Move-in Ready North Andover Office

      Furnished office space ideal for small businesses and professional services.
      451 Andover #165, North Andover, MA 01845
      View Details
    • $25 SF/Yr

      Adaptable Commercial Space with Natural Light

      Versatile 5,050 SF commercial space suitable for various uses.
      1820 Turnpike St #106, North Andover, MA 01845
      View Details
    • $25 SF/Yr

      Professional Office Space Available

      1,400 SF office space with flexible, open layout.
      999 Osgood St #B, North Andover, MA 01845
      View Details
    • $950/Mo

      Downtown Office Space Available

      Move-in ready office space in a convenient downtown location.
      11A Hodges Street #11A, North Andover, MA 01845
      View Details
    • $300/Mo

      Conference Room for Rent

      Conference room available for daily rental with teleconferencing features.
      30 Massachusetts Avenue, North Andover, MA 01845
      View Details

    FAQs

    What type of property is this?
    Retail space - New street-level retail in North Andover's newest development.
    Where is this retail space located?
    The property is located at 1274 Osgood Street #3-1st fl. North Andover North Andover, MA.
    What is the lease rate?
    The lease rate is $34 SF/Yr.
    What are key features of this property?
    This property features: Prime location in Signature Commons, North Andover's newest development.; Centrally located near major highways, Lawrence Airport, Amazon's distribution facility, and private schools.; Enjoy on‑site access to a variety of businesses including Starbucks, Andiamo Restaurant + Bar, and F45 Training.
    (978) 475-1400
    We can help!
    Listing Contact
    Team Lillian Montalto
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!