Professional Office
21 Central Street, Andover, MA 01810
For Sale
New
Contact for pricing
Lower-level workspace includes a waiting area, private office, and conference room.
Property Size750 SF
Price / SF$2.51
Days on Market7
Property Features for 21 Central Street
General Information
Standard status
Size
Additional Details
Floor
Property Use
Building Details
Year Built
Listing Agency:
McKeon / Corcoran Real Estate
(978) 374-0112
Listed By:
Robin R. McKeon
(978) 273-8097
Source:
Lockandkeyre
Added: Nov 7
Changed: Nov 12
Last Checked: Nov 12 at 7:53AM
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 McKeon / Corcoran Real Estate
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Investment Insights
Based on property information with market context.
A 750-square-foot office suite occupies the lower level of a professional office building. Its layout includes a waiting area, a private office, and a conference room, providing distinct spaces for reception, individual work, and meetings.
The property is at 21 Central Street in Andover, Massachusetts. A parking space in the rear lot is available to rent. Heat and electricity are included in the rent.
The property is at 21 Central Street in Andover, Massachusetts. A parking space in the rear lot is available to rent. Heat and electricity are included in the rent.
Key Highlights
- 750‑square‑foot lower‑level office suite
- Waiting area, private office, and conference room
- Heat and electricity included in rent
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,905
Suggested Prices Based on Cap Rates
Cap Rate 5%
$418,100
$418.1K
Cap Rate 7%
$298,643
$298.6K
Cap Rate 9%
$232,278
$232.3K
Market Conditions
NOI Build-Up for 750 SF
Gross rent
$34.2K $45.60/SF
− Vacancy
−$6.3K −$8.44/SF
EGI
$27.9K $37.16/SF
− OpEx
−$7.0K −$9.29/SF
NOI
$20.9K $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%
$418,100
Cap Rate 7%
$298,643
Cap Rate 9%
$232,278
Alternative Uses
Best Use
Office B
$298.6K
$261.3K – $348.4K
NOI $20,905 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$444.0K
$388.5K – $518.0K
NOI $31,080 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,613
Businesses Nearby
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Business Placement
Demographics for 01810, MA
35,621
Population
13,803
Households
2.6
Avg Household Size
43
Median Age
75%
College-Educated
97%
High-School Grad
30.5 sq mi
ZIP Area
1,168
Density / Sq Mi
$167,591
Median Household Income
$86,838
Median Earnings
$2,046
Median Rent
$813,800
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Essex County, MA
Properties on Market for Office Units in Essex County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Lower-level workspace includes a waiting area, private office, and conference room.
Where is this office unit located?
The property is located at 21 Central Street Andover, MA.
What are key features of this property?
This property features: 750‑square‑foot lower‑level office suite; Waiting area, private office, and conference room; Heat and electricity included in rent
