First-Floor Professional Office
For Sale
$125,000
150-451 Andover St, North Andover, MA 01845
Three-room layout with convenient access from the parking area and building lobby.
Property Size295 SF
Price / SF$423.73
Days on Market208
Property Features for 150-451 Andover St
General Information
Standard status
Active
Size
295 SF
Additional Details
Floor
First Floor
Taxes and HOA fees
Annual Taxes
$1,103
Listing Agency:
DiPietro Group Real Estate
(603) 216-5086
Listed By:
Kim Oliveira
(978) 618-3299
Source:
Exprealty
Added: Apr 8
Changed: Oct 25
Last Checked: Oct 30 at 8:25PM
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 DiPietro Group Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Unit 150 is a first-floor professional office suite at 451 Andover Street in North Andover. The space includes three rooms and is located at the building’s main entrance, with access from both the parking area and lobby.
The flexible configuration supports a range of professional applications, including medical or wellness practices, general office operations, and creative services. Its placement within the entrance area provides exposure to visitors arriving at the building, while the suite’s layout offers a practical setting for businesses seeking a compact office presence.
The flexible configuration supports a range of professional applications, including medical or wellness practices, general office operations, and creative services. Its placement within the entrance area provides exposure to visitors arriving at the building, while the suite’s layout offers a practical setting for businesses seeking a compact office presence.
Key Highlights
- First‑floor suite with three rooms
- Positioned at the building’s main entrance
- Access from the parking area and lobby
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,223
Cap Rate
6.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$164,460
$164.5K
Cap Rate 7%
$117,471
$117.5K
Cap Rate 9%
$91,367
$91.4K
Market Conditions
NOI Build-Up for 295 SF
Gross rent
$13.5K $45.60/SF
− Vacancy
−$2.5K −$8.44/SF
EGI
$11.0K $37.16/SF
− OpEx
−$2.7K −$9.29/SF
NOI
$8.2K $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 Rate 5%
$164,460
Cap Rate 7%
$117,471
Cap Rate 9%
$91,367
Alternative Uses
Best Use
Office B
$117.5K
$102.8K – $137.1K
NOI $8,223 @ 7.0% cap · market cap 6.58%
Second Best
Healthcare Medical
$77.7K
$68.0K – $90.7K
NOI $5,442 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$174.6K
$152.8K – $203.8K
NOI $12,225 @ 7.0% cap · market cap 9.78%
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
449
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 Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Three-room layout with convenient access from the parking area and building lobby.
Where is this office unit located?
The property is located at 150-451 Andover St North Andover, MA.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: First‑floor suite with three rooms; Positioned at the building’s main entrance; Access from the parking area and lobby
