Industrial Warehouse
For Sale
Contact for pricing
2302 Turnpike St Unit 1, North Andover, MA 01845
Radiant heat and included utilities simplify ongoing bay operations.
Property Size500 SF
Price / SF$4
Days on Market64
Property Features for 2302 Turnpike St Unit 1
General Information
Standard status
Active
Size
500 SF
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Clear Height
20 ft
Building Details
Year Built
2018
Listing Agency:
Charlesgate Realty Group LLC
(978) 664-3000
Listed By:
John E. Magazzu · License #91287
(978) 815-6098
Source:
Lockandkeyre
Added: Aug 18
Changed: Oct 19
Last Checked: Oct 19 at 9:46AM
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 Charlesgate Realty Group LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This warehouse property offers industrial bays with 14-foot-high doors, radiant heat, and 20-foot ceilings. The bays are described as measuring 14 x 34, with utilities included in a single bill.
Constructed in 2018, the property is located at 2302 Turnpike St, Unit 1, in North Andover, Massachusetts. The address identifies the offering as a defined unit within a multi-bay industrial setting.
Constructed in 2018, the property is located at 2302 Turnpike St, Unit 1, in North Andover, Massachusetts. The address identifies the offering as a defined unit within a multi-bay industrial setting.
Key Highlights
- Industrial bays with 14' high doors
- Bays described as 14 x 34
- 20‑foot ceiling height
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,458
Suggested Prices Based on Cap Rates
Cap Rate 5%
$129,160
$129.2K
Cap Rate 7%
$92,257
$92.3K
Cap Rate 9%
$71,756
$71.8K
Market Conditions
NOI Build-Up for 500 SF
Gross rent
$8.0K $16.08/SF
− Vacancy
−$442 −$0.88/SF
EGI
$7.6K $15.20/SF
− OpEx
−$1.1K −$2.28/SF
NOI
$6.5K $12.92/SF
Area
Essex County, MA
Vacancy
5.50%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$129,160
Cap Rate 7%
$92,257
Cap Rate 9%
$71,756
Alternative Uses
Best Use
Warehouse
$92.3K
$80.7K – $107.6K
NOI $6,458 @ 7.0% cap · market cap 322.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$296.0K
$259.0K – $345.3K
NOI $20,720 @ 7.0% cap · market cap 1,036.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
20 ft
Clear height
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Well-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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Warehouse - Radiant heat and included utilities simplify ongoing bay operations.
Where is this warehouse located?
The property is located at 2302 Turnpike St Unit 1 North Andover, MA.
What are key features of this property?
This property features: Industrial bays with 14' high doors; Bays described as 14 x 34; 20‑foot ceiling height
