First-Floor Professional Office
For Sale
$90,000
451 Andover St Unit 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 Market87
Property Features for 451 Andover St Unit 160
General Information
Standard status
Active
Size
203 SF
Additional Details
Floor
1
Building Details
Year Built
1990
Listing Agency:
DiPietro Group Real Estate
Listed By:
Kim Oliveira
(603) 883-8400
Source:
Susansells
Added: Jul 21
Changed: Oct 8
Last Checked: Oct 7 at 3:36PM
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
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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office units - Two-room office unit positioned beside the building entrance with direct access from the parking area and lobby.
Where is this office units located?
The property is located at 451 Andover St Unit 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
