1 Elm Sq #L9-2 Andover, MA 01810
Totally renovated retail suite with a flexible floor plan, 2 off-street parking spaces, and high downtown visibility.
Property Features for 1 Elm Sq #L9-2
General Information
- Standard status
- Active
- Size
- 2,353 SF
Building Details
- Year Built
- 1966
Listing office Lillian Montalto Signature Properties
Listing date Jul 12, 2026
Source Laerrealty
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Investment Insights
Based on property information with market context.
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 |
