Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Georgetown Commercial Space For Lease Title is generated by Realmo AI

    415 Andover St, Georgetown, MA 01833

    View on Map
    Claim this Listing
    New
    For Lease
    $2,000/Mo $9 SF/Yr (calc)

    COMMERCIAL - Georgetown, MA

    Property size:
    2,500 SF
    Lot size:
    2.80 Acres
    Added:
    May 19, 2026
    Days on Market:
    3
    Last Refresh:
    May 21 at 10:06 pm

    Property Features for 415 Andover St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    RC
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2
    Standard status
    Active
    APN
    M:00002 B:00000 L:00026,1889147
    Size
    2,500 SF
    Lot size
    2.80 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    5581

    Building Details

    Year built
    1964

    We can help!

    Listing Contact
    Keller Williams Realty Evolution

    Listing agent Keller Williams Realty Evolution

    Listing office Keller Williams Realty Evolution 2 New Pasture Road, Unit 1, Beverly, MA

    Listing date May 19, 2026

    MLS# 73521364

    Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    This lower-level commercial space is located in a well-known building in Georgetown, Massachusetts, on Route 133. The space, which was most recently used as a gym, offers approximately 2,500 square feet of open floor space. The flooring consists of foam rubber mats throughout most of the area. The space includes two half bathrooms and a private entrance. Over 20 on-site parking spaces are available. The ceiling height is under 8 feet. Basic HVAC is in place. There is signage opportunity on Route 133, which sees approximately 8,200 vehicles per day, according to Mass DOT 2022-2023 data. The upper floor of the building is occupied by a church with limited weekly use. The property is zoned RC and sits on a 2.8-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Fitness centers & gyms

    Suggested Use

    Restaurant Law Firm Building Supply Gym & Fitness Center Electronics & Wireless Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • West Street Athletic Fields — Georgetown, MA 01833
    • Tom Henry Memorial Fields — 65 West St, Georgetown, MA 01833

    Location Insight

    • Map
    • Local Demand
    City
    Georgetown
    County
    Essex
    State
    Massachusetts
    Longitude
    -71.0261127
    Latitude
    42.7122031

    Nearby Similar for Lease

    • $695/Mo
      250 SF

      Georgetown Office Space For Rent

      Affordable 250 SF office space in downtown Georgetown.
      35-41 W Main St, Georgetown, MA 01833
      View Details
    • $695/Mo
      200 SF

      Georgetown Office Space For Rent

      Affordable office space in downtown Georgetown with high visibility.
      35-41 W Main St, Georgetown, MA 01833
      View Details
    • $3,500/Mo
      1,400 SF

      Georgetown Medical Office For Lease

      Flexible office space in downtown Georgetown with high visibility.
      35-41 W Main St, Georgetown, MA 01833
      View Details
    • $3,500/Mo
      1,400 SF

      Georgetown Medical Office Space Available

      Flexible office suite in downtown Georgetown with high visibility.
      35-41 W Main St #6, Georgetown, MA 01833
      View Details
    • $695/Mo
      250 SF

      Downtown Georgetown Second-Floor Office

      Affordable office space in a high-traffic downtown location.
      35-41 W Main St #5, Georgetown, MA 01833
      View Details
    • $1.00 SF/Yr
      839 SF

      Downtown Georgetown Lower Level Office

      839 SF office space in downtown Georgetown for lease.
      35-41 W Main St #LL3, Georgetown, MA 01833
      View Details
    • $2,500/Mo
      828 SF

      Downtown Georgetown Second-Floor Office Space

      Second-floor office space in the heart of downtown Georgetown.
      35-41 W Main St #7 & 8, Georgetown, MA 01833
      View Details
    • $24 SF/Yr
      370 SF

      Office Space with Route 20 Access

      Office space with visibility and access from Route 20.
      530 Boston Post Rd E, Marlboro, MA
      View Details
    • $2,500/Mo
      828 SF

      Downtown Georgetown Office Space Available

      Second-floor office space with high visibility in downtown Georgetown.
      35-41 W Main St, Georgetown, MA 01833
      View Details
    • Contact for pricing
      1,200 SF

      Marlborough Office & Flex Space

      Office and flex space for lease in Marlborough, Massachusetts.
      7 Mechanic St, Marlboro, MA
      View Details
    • $1.00 SF/Yr
      839 SF

      Georgetown Office Space For Lease

      Lower level office space in downtown Georgetown with high visibility.
      35-41 W Main St, Georgetown, MA 01833
      View Details
    • Contact for pricing
      2,500 SF

      Pad Site For Lease

      2,500 SF pad site available for ground lease.
      2 Mt Royal Ave, Marlboro, MA
      View Details

    FAQs

    What type of property is this?
    Fitness center & gym - Lower-level commercial space with ample parking in Georgetown, MA.
    Where is this fitness center & gym located?
    The property is located at 415 Andover St Georgetown, MA.
    What is the lease rate?
    The lease rate is $2,000 /Mo.
    (978) 992-4050
    We can help!
    Listing Contact
    Keller Williams Realty Evolution
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    415 Andover St, Georgetown, MA 01833
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!