Elevator-Building Office
1820 Turnpike St #201, North Andover, MA 01845
For Sale
New
Contact for pricing
Five enclosed offices, a conference room, and an open work area support a varied office layout.
Property Size2,800 SF
Price / SF$1.34
Days on Market4
Property Features for 1820 Turnpike St #201
General Information
Standard status
Size
Elevators
Additional Details
Property Use
Building Details
Year Built
Buildings
Listing Agency:
Tibbetts Real Estate Group
Listed By:
Randy Tibbetts
(617) 233-2103
Source:
Lockandkeyre
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 5:20PM
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 Tibbetts Real Estate Group
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Investment Insights
Based on property information with market context.
This 2,800-square-foot office suite is in an elevator-equipped building constructed in 2009. Its layout includes five private offices, a conference room, two interior rooms, a server and electronics room, and a storage closet. An open bullpen can accommodate up to four workstations. The lunchroom has maple cabinetry and granite counters, and central heating and air conditioning serve the space.
Windows face a wooded, country setting. The property offers ample parking and access to Middleton, North Andover, and nearby communities.
Windows face a wooded, country setting. The property offers ample parking and access to Middleton, North Andover, and nearby communities.
Key Highlights
- 2,800‑square‑foot office suite in a building completed in 2009
- Five private offices, a conference room, and two additional interior rooms
- Bullpen designed to accommodate up to four workstations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,044
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,560,880
$1.6M
Cap Rate 7%
$1,114,914
$1.1M
Cap Rate 9%
$867,156
$867.2K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$127.7K $45.60/SF
− Vacancy
−$23.6K −$8.44/SF
EGI
$104.1K $37.16/SF
− OpEx
−$26.0K −$9.29/SF
NOI
$78.0K $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%
$1,560,880
Cap Rate 7%
$1,114,914
Cap Rate 9%
$867,156
Alternative Uses
Best Use
Office B
$1.11M
$975.6K – $1.30M
NOI $78,044 @ 7.0% cap · market cap 2,081.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $116,031 @ 7.0% cap · market cap 3,094.16%
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
97
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 - Five enclosed offices, a conference room, and an open work area support a varied office layout.
Where is this office unit located?
The property is located at 1820 Turnpike St #201 North Andover, MA.
What are key features of this property?
This property features: 2,800‑square‑foot office suite in a building completed in 2009; Five private offices, a conference room, and two additional interior rooms; Bullpen designed to accommodate up to four workstations
