Modern Second-Floor Office
For Sale
Contact for pricing
255A Andover Street # 201, Peabody, MA 01960
Versatile professional suite with private offices, elevator service, and on-site parking along Route 114.
Property Size850 SF
Price / SF$3.24
Days on Market50
Property Features for 255A Andover Street # 201
General Information
Standard status
Active
Size
850 SF
Elevators
Yes
Property subtype
Commercial
Zoning
BR
Lease Type
Gross
Additional Details
Floor
2
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$26,407
Building Details
Building Size
850 SF
Year Built
2015
Listing Agency:
Leading Edge Real Estate
(781) 729-5505
Listed By:
Melanie Lentini · License #448510392
(781) 526-8070
Source:
Churchillprop
Added: Aug 30
Changed: Oct 6
Last Checked: Oct 16 at 6:36AM
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 Leading Edge Real Estate
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Investment Insights
Based on property information with market context.
This 850-square-foot office unit occupies the second floor of a professionally maintained building constructed in 2015. The layout includes three private offices, elevator access, and an additional plumbed room that can serve as a kitchenette, break room, or flexible workspace. Zoning is BR.
The property is positioned along Route 114 at 255A Andover Street in Peabody, with on-site parking and strong daily traffic counts. Its location provides access to Peabody, Danvers, and Salem, as well as major commuter routes. The suite is suited to professional, medical, wellness, and service-oriented business uses identified in the property information.
The property is positioned along Route 114 at 255A Andover Street in Peabody, with on-site parking and strong daily traffic counts. Its location provides access to Peabody, Danvers, and Salem, as well as major commuter routes. The suite is suited to professional, medical, wellness, and service-oriented business uses identified in the property information.
Key Highlights
- 850‑square‑foot second‑floor office unit
- Three private offices plus an additional room with plumbing
- Elevator access to the suite
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,692
Suggested Prices Based on Cap Rates
Cap Rate 5%
$473,840
$473.8K
Cap Rate 7%
$338,457
$338.5K
Cap Rate 9%
$263,244
$263.2K
Market Conditions
NOI Build-Up for 850 SF
Gross rent
$38.8K $45.60/SF
− Vacancy
−$7.2K −$8.44/SF
EGI
$31.6K $37.16/SF
− OpEx
−$7.9K −$9.29/SF
NOI
$23.7K $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%
$473,840
Cap Rate 7%
$338,457
Cap Rate 9%
$263,244
Alternative Uses
Best Use
Office B
$338.5K
$296.2K – $394.9K
NOI $23,692 @ 7.0% cap · market cap 861.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$503.2K
$440.3K – $587.1K
NOI $35,224 @ 7.0% cap · market cap 1,280.87%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
944
Businesses Nearby
Explore this area
Business Placement
Demographics for 01960, MA
54,155
Population
23,009
Households
2.4
Avg Household Size
47
Median Age
34%
College-Educated
91%
High-School Grad
16.0 sq mi
ZIP Area
3,385
Density / Sq Mi
$95,173
Median Household Income
$56,100
Median Earnings
$1,902
Median Rent
$566,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office units - Versatile professional suite with private offices, elevator service, and on-site parking along Route 114.
Where is this office units located?
The property is located at 255A Andover Street # 201 Peabody, MA.
What are key features of this property?
This property features: 850‑square‑foot second‑floor office unit; Three private offices plus an additional room with plumbing; Elevator access to the suite
