First-Floor Professional Office
For Sale
$90,000
160-451 Andover St, North Andover, MA 01845
Two-room office layout with direct access from the building lobby and parking area.
Property Size203 SF
Price / SF$443.35
Days on Market209
Property Features for 160-451 Andover St
General Information
Standard status
Active
Size
203 SF
Additional Details
Floor
First Floor
Taxes and HOA fees
Annual Taxes
$798
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: Nov 1 at 7:04AM
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 160 is a first-floor professional office suite at 451 Andover St in North Andover, Massachusetts. The space includes two rooms and is positioned at the building’s primary entrance, with convenient access from both the lobby and parking area.
The flexible configuration is suited to professional office, medical, wellness, or creative service uses. Unit 150 is also available for purchase, providing an option to add space at the same address.
The flexible configuration is suited to professional office, medical, wellness, or creative service uses. Unit 150 is also available for purchase, providing an option to add space at the same address.
Key Highlights
- First‑floor suite with two‑room configuration
- Located at the building’s main entrance
- Convenient access from the lobby and parking area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,658
Cap Rate
6.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$113,160
$113.2K
Cap Rate 7%
$80,829
$80.8K
Cap Rate 9%
$62,867
$62.9K
Market Conditions
NOI Build-Up for 203 SF
Gross rent
$9.3K $45.60/SF
− Vacancy
−$1.7K −$8.44/SF
EGI
$7.5K $37.16/SF
− OpEx
−$1.9K −$9.29/SF
NOI
$5.7K $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%
$113,160
Cap Rate 7%
$80,829
Cap Rate 9%
$62,867
Alternative Uses
Best Use
Office B
$80.8K
$70.7K – $94.3K
NOI $5,658 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$120.2K
$105.2K – $140.2K
NOI $8,412 @ 7.0% cap · market cap 9.35%
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 - Two-room office layout with direct access from the building lobby and parking area.
Where is this office unit located?
The property is located at 160-451 Andover St North Andover, MA.
What is the asking price?
The asking price for this property is $90,000.
What are key features of this property?
This property features: First‑floor suite with two‑room configuration; Located at the building’s main entrance; Convenient access from the lobby and parking area
