Modern Office Unit with Open
For Sale
Contact for pricing
255B Andover Street # 202, Peabody, MA 01960
Three private rooms, shared workspace, and storage support office, training, conference, and service-oriented operations.
Property Size1,643 SF
Price / SF$3.39
Days on Market48
Property Features for 255B Andover Street # 202
General Information
Standard status
Active
Size
1,643 SF
Property subtype
Commercial
Zoning
BR
Lease Type
Gross
Taxes and HOA fees
Annual Taxes
$26,407
Amenities
abundant natural light
prominent signage opportunities
Building Details
Building Size
1,643 SF
Year Built
2019
Listing Agency:
Leading Edge Real Estate
(781) 729-5505
Listed By:
Melanie Lentini · License #448510392
(781) 526-8070
Source:
Churchillprop
Added: Sep 2
Changed: Oct 6
Last Checked: Oct 16 at 7:26AM
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 1,643-square-foot office unit at 255B Andover Street, Suite 202, includes three private office rooms, a substantial open area, and additional storage. The layout can accommodate professional office functions as well as training, educational, conference, medical, wellness, and service-oriented activities. Built in 2019, the building offers natural light, contemporary design, on-site parking, and signage opportunities.
The property is positioned along Route 114 in Peabody, with direct exposure from Andover Street and access to an active commercial corridor. Zoning is BR, and the suite is available immediately.
The property is positioned along Route 114 in Peabody, with direct exposure from Andover Street and access to an active commercial corridor. Zoning is BR, and the suite is available immediately.
Key Highlights
- 1,643 SF office unit at 255B Andover Street # 202
- Three private office‑style rooms plus a spacious open area
- Additional storage space supports organized operations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,795
Suggested Prices Based on Cap Rates
Cap Rate 5%
$915,900
$915.9K
Cap Rate 7%
$654,214
$654.2K
Cap Rate 9%
$508,833
$508.8K
Market Conditions
NOI Build-Up for 1,643 SF
Gross rent
$74.9K $45.60/SF
− Vacancy
−$13.9K −$8.44/SF
EGI
$61.1K $37.16/SF
− OpEx
−$15.3K −$9.29/SF
NOI
$45.8K $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%
$915,900
Cap Rate 7%
$654,214
Cap Rate 9%
$508,833
Alternative Uses
Best Use
Office B
$654.2K
$572.4K – $763.3K
NOI $45,795 @ 7.0% cap · market cap 821.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$972.6K
$851.1K – $1.13M
NOI $68,085 @ 7.0% cap · market cap 1,221.26%
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
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 - Three private rooms, shared workspace, and storage support office, training, conference, and service-oriented operations.
Where is this office units located?
The property is located at 255B Andover Street # 202 Peabody, MA.
What are key features of this property?
This property features: 1,643 SF office unit at 255B Andover Street # 202; Three private office‑style rooms plus a spacious open area; Additional storage space supports organized operations
