Corner Retail
For Sale
Contact for pricing
22 Andover Street # D, Andover, MA 01810
An 850-square-foot unit in a shopping plaza with tile flooring and shared customer parking.
Property Size850 SF
Price / SF$2.71
Days on Market217
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Property Features for 22 Andover Street # D
General Information
Standard status
Active
Size
850 SF
Property subtype
Commercial
Zoning
ID
Lease Type
NNN
Additional Details
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$27,102
Building Details
Building Size
850 SF
Year Built
1960
Listing Agency:
Lamacchia Realty, Inc.
(978) 250-1900
Listed By:
Brian Kindlan · License #9550090
(978) 302-3676
Source:
Churchillprop
Added: Mar 13
Changed: Oct 6
Last Checked: Oct 14 at 9:38PM
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 Lamacchia Realty, Inc.
Investment Insights
Based on property information with market context.
This 850-square-foot retail unit occupies a corner position within a shopping plaza at 22 Andover Street in Andover, Massachusetts. The space includes tile flooring and an adaptable open retail layout. The unit was most recently used as a paint store and is classified under ID zoning.
On-site parking is shared among three units, providing parking access for customers and employees. The property was built in 1960 and is identified as a retail space suitable for storefront, showroom, or specialty-service operations.
On-site parking is shared among three units, providing parking access for customers and employees. The property was built in 1960 and is identified as a retail space suitable for storefront, showroom, or specialty-service operations.
Key Highlights
- 850 SF corner retail unit in a shopping plaza
- Tile flooring and flexible open retail layout
- Shared on‑site parking serving three units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,966
Suggested Prices Based on Cap Rates
Cap Rate 5%
$279,320
$279.3K
Cap Rate 7%
$199,514
$199.5K
Cap Rate 9%
$155,178
$155.2K
Market Conditions
NOI Build-Up for 850 SF
Gross rent
$20.4K $24.00/SF
− Vacancy
−$449 −$0.53/SF
EGI
$20.0K $23.47/SF
− OpEx
−$6.0K −$7.04/SF
NOI
$14.0K $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 Rate 5%
$279,320
Cap Rate 7%
$199,514
Cap Rate 9%
$155,178
Alternative Uses
Best Use
Retail
$199.5K
$174.6K – $232.8K
NOI $13,966 @ 7.0% cap · market cap 607.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$503.2K
$440.3K – $587.1K
NOI $35,224 @ 7.0% cap · market cap 1,531.48%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
107
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - An 850-square-foot unit in a shopping plaza with tile flooring and shared customer parking.
Where is this retail space located?
The property is located at 22 Andover Street # D Andover, MA.
What are key features of this property?
This property features: 850 SF corner retail unit in a shopping plaza; Tile flooring and flexible open retail layout; Shared on‑site parking serving three units
