Four-Office Professional
12 Main, North Andover, MA 01845
For Sale
Contact for pricing
First-floor space offers a reception area, kitchenette, private offices, and accessible features.
Property Size1,500 SF
Price / SF$2.17
Days on Market8
Property Features for 12 Main
General Information
Standard status
Size
Space & Availability
Floor
Condition
Additional Details
Property Use
Amenities
Handicap Accessible
Kitchenette
Building Details
Year Built
Listing Agency:
Connect Property Group
(978) 208-4721
Listed By:
John Tripodis
(978) 273-2138
Source:
Lockandkeyre
Added: Nov 2
Changed: Nov 8
Last Checked: Nov 8 at 5:57AM
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 Connect Property Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The 1,500-square-foot first-floor suite was built in 1998 and has a layout suited to professional office or retail use. Interior features include an open reception area, a separate reception office, four private offices, a desk area, a kitchenette, and a bathroom. The space is handicap accessible.
Located on Main Street in downtown North Andover, the property includes parking. The lease structure is not NNN.
Located on Main Street in downtown North Andover, the property includes parking. The lease structure is not NNN.
Key Highlights
- 1,500 square feet on the first floor
- Four private offices, plus a reception office and desk area
- Open reception area, kitchenette, and bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,646
Suggested Prices Based on Cap Rates
Cap Rate 5%
$492,920
$492.9K
Cap Rate 7%
$352,086
$352.1K
Cap Rate 9%
$273,844
$273.8K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$36.0K $24.00/SF
− Vacancy
−$792 −$0.53/SF
EGI
$35.2K $23.47/SF
− OpEx
−$10.6K −$7.04/SF
NOI
$24.6K $16.43/SF
Area
Essex County, MA
Vacancy
2.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$492,920
Cap Rate 7%
$352,086
Cap Rate 9%
$273,844
Alternative Uses
Best Use
Office B
$597.3K
$522.6K – $696.8K
NOI $41,810 @ 7.0% cap · market cap 1,286.46%
Second Best
Retail
$352.1K
$308.1K – $410.8K
NOI $24,646 @ 7.0% cap · market cap 758.34%
Theoretical Best
Office A
$888.0K
$777.0K – $1.04M
NOI $62,160 @ 7.0% cap · market cap 1,912.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,135
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
$670,000
Median Home Value
Market
Average Price Trend$/SF for Office Units in North Andover, MA
Properties on Market for Office Units in North Andover
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - First-floor space offers a reception area, kitchenette, private offices, and accessible features.
Where is this office unit located?
The property is located at 12 Main North Andover, MA.
What are key features of this property?
This property features: 1,500 square feet on the first floor; Four private offices, plus a reception office and desk area; Open reception area, kitchenette, and bathroom
