Retail Storefront
For Sale
Contact for pricing
162 Sutton St, North Andover, MA 01845
For sale storefront property near I-495, connecting I-93 and I-95 in North Andover, MA.
Property Size4,000 SF
Price / SF$500
Days on Market861
Property Features for 162 Sutton St
General Information
Standard status
Active
Size
4,000 SF
Class
B
Total Parking Spaces
20
Property subtype
Retail
Zoning
Commercial
Lease Type
NNN
Investment Type
Net Lease
Additional Details
Highway Access
Yes
Building Details
Year Built
1997
Year Renovated
2022
Buildings
1
Stories
1
Units
3
Tenancy
Multi
Listing Agency:
Argyle Realty Group LLC
Listed By:
Daniel Connelly · License #MA 9073517
Source:
Crexi
Added: May 1, 2024
Changed: Aug 8
Last Checked: Jul 30 at 4:53PM
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 Argyle Realty Group LLC
Investment Insights
Based on property information with market context.
This for-sale retail storefront property is located at 162 Sutton St in North Andover, Massachusetts, offering approximately 4,000 square feet of commercial space.
The property is situated just off I-495, which connects I-93 and I-95. North Andover is positioned on the North Shore of Boston, with roughly 25 minutes to the city and about 25 minutes to the ocean, and approximately 45 minutes to the Mountains and Lakes Region. The area’s local economy includes employers such as Amazon, Watts Water Technologies, Merrimack College, and ERGO Group.
The property is situated just off I-495, which connects I-93 and I-95. North Andover is positioned on the North Shore of Boston, with roughly 25 minutes to the city and about 25 minutes to the ocean, and approximately 45 minutes to the Mountains and Lakes Region. The area’s local economy includes employers such as Amazon, Watts Water Technologies, Merrimack College, and ERGO Group.
Key Highlights
- Storefront property for sale in North Andover, MA, near I‑495
- Year built: 1997
- Located just off I‑495, connecting I‑93 and I‑95
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$65,722
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.29%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,314,440
$1.3M
Cap Rate 7%
$938,886
$938.9K
Cap Rate 9%
$730,244
$730.2K
Market Conditions
NOI Build-Up for 4,000 SF
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.
Gross rent
$96.0K $24.00/SF
− Vacancy
−$2.1K −$0.53/SF
EGI
$93.9K $23.47/SF
− OpEx
−$28.2K −$7.04/SF
NOI
$65.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,314,440
Cap Rate 7%
$938,886
Cap Rate 9%
$730,244
Alternative Uses
Best Use
Retail
$938.9K
$821.5K – $1.10M
NOI $65,722 @ 7.0% cap · market cap 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.37M
$2.07M – $2.76M
NOI $165,759 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,093
Businesses Nearby
Under-served
Demand for This Use
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 Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Sutton Pond Flowers & Gifts — 6 Water St, North Andover, MA 01845
Frequently Asked Questions
What type of property is this?
Storefront property - For sale storefront property near I-495, connecting I-93 and I-95 in North Andover, MA.
Where is this storefront property located?
The property is located at 162 Sutton St North Andover, MA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Storefront property for sale in North Andover, MA, near I‑495; Year built: 1997; Located just off I‑495, connecting I‑93 and I‑95
