First-Floor Professional Office
For Sale
$90,000
451 Andover St #160, North Andover, MA 01845
Two-room office unit positioned beside the building entrance with direct access from the parking area and lobby.
Property Size203 SF
Price / SF$443.35
Days on Market105
Property Features for 451 Andover St #160
General Information
Standard status
Active
Size
203 SF
Property subtype
Commercial
Zoning
commercial, Legal Conforming
Additional Details
Floor
1
Taxes and HOA fees
Annual Taxes
$798
Building Details
Building Size
203 SF
Year Built
1990
Listing Agency:
DiPietro Group Real Estate
(603) 216-5086
Listed By:
Kim Oliveira
(978) 618-3299
Source:
Condonrealty
Added: Jul 21
Changed: Oct 25
Last Checked: Oct 29 at 7:41PM
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 DiPietro Group Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Unit 160 is a first-floor professional office suite with two rooms at 451 Andover Street. Its placement beside the building’s primary entrance provides convenient arrival from both the parking area and interior lobby. The suite is located within a complex constructed in 1990 and is suitable for professional office operations, including medical, wellness, general office, or creative service uses.
The property is identified as an office unit at a North Andover commercial address. Unit 150 is also offered for purchase, providing an option to acquire additional space within the same property.
The property is identified as an office unit at a North Andover commercial address. Unit 150 is also offered for purchase, providing an option to acquire additional space within the same property.
Key Highlights
- Two‑room first‑floor professional suite
- Adjacent to the building’s main entrance
- Access from both the parking area and lobby
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,658
Cap Rate
6.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$113,160
$113.2K
Cap Rate 7%
$80,829
$80.8K
Cap Rate 9%
$62,867
$62.9K
Market Conditions
NOI Build-Up for 203 SF
Gross rent
$9.3K $45.60/SF
− Vacancy
−$1.7K −$8.44/SF
EGI
$7.5K $37.16/SF
− OpEx
−$1.9K −$9.29/SF
NOI
$5.7K $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%
$113,160
Cap Rate 7%
$80,829
Cap Rate 9%
$62,867
Alternative Uses
Best Use
Office B
$80.8K
$70.7K – $94.3K
NOI $5,658 @ 7.0% cap · market cap 6.29%
Second Best
Healthcare Medical
$53.5K
$46.8K – $62.4K
NOI $3,745 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$120.2K
$105.2K – $140.2K
NOI $8,412 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
740
Businesses Nearby
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 Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Two-room office unit positioned beside the building entrance with direct access from the parking area and lobby.
Where is this office unit located?
The property is located at 451 Andover St #160 North Andover, MA.
What is the asking price?
The asking price for this property is $90,000.
What are key features of this property?
This property features: Two‑room first‑floor professional suite; Adjacent to the building’s main entrance; Access from both the parking area and lobby
