Professional Suite in North
For Sale
$125,000
451 Andover St 150, North Andover, MA 01845
First-floor, 3-room professional suite with high visibility.
Property Size295 SF
Days on Market195
Property Features for 451 Andover St 150
General Information
Standard status
Active
Size
295 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$1,103
Building Details
Building Size
295 SF
Year Built
1990
Listing Agency:
DiPietro Group Real Estate
Listed By:
Kim Oliveira
(978) 618-3299
Source:
Elliman
Added: Apr 15
Changed: Aug 8
Last Checked: Aug 8 at 1:23PM
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
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Investment Insights
Based on property information with market context.
Located at 451 Andover Street, Unit 150, North Andover, this first-floor, 3-room professional suite offers prime visibility and accessibility. Situated directly at the building’s main entrance, the suite benefits from exceptional exposure to daily visitors and easy access from the parking area and lobby. The flexible layout is suitable for a variety of professional uses, including medical or wellness practices, general office use, or creative services. The property is located in a well-maintained complex in a highly desirable location with excellent traffic counts. Unit #160 is also available for purchase.
Key Highlights
- Prime first‑floor location directly at the building's main entrance.
- Exceptional exposure to daily visitors.
- Easy access from parking area and lobby.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,223
Cap Rate
6.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$164,460
$164.5K
Cap Rate 7%
$117,471
$117.5K
Cap Rate 9%
$91,367
$91.4K
Market Conditions
NOI Build-Up for 295 SF
Gross rent
$13.5K $45.60/SF
− Vacancy
−$2.5K −$8.44/SF
EGI
$11.0K $37.16/SF
− OpEx
−$2.7K −$9.29/SF
NOI
$8.2K $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%
$164,460
Cap Rate 7%
$117,471
Cap Rate 9%
$91,367
Alternative Uses
Best Use
Office B
$117.5K
$102.8K – $137.1K
NOI $8,223 @ 7.0% cap · market cap 6.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$174.6K
$152.8K – $203.8K
NOI $12,225 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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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
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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 unit - First-floor, 3-room professional suite with high visibility.
Where is this office unit located?
The property is located at 451 Andover St 150 North Andover, MA.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: Prime first‑floor location directly at the building's main entrance.; Exceptional exposure to daily visitors.; Easy access from parking area and lobby.
