Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    565 Turnpike St North Andover, MA

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $119,000

    Office space for sale in North Andover, Massachusetts.

    Type:OFFICE
    Property size:
    2,257 SF
    Lot size:
    4.12 Acres
    Added:
    Oct 31, 2025
    Days on Market:
    153
    Last Refresh:
    Mar 29 at 10:01 pm

    Property Features for 565 Turnpike St

    General Information

    Standard status
    Active
    Size
    2,257 SF
    Lot size
    4.12 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    Henry F. Carpenito

    Listing agent Henry F. Carpenito

    Listing office Flagship Commercial Real Estate

    Listing date Oct 31, 2025

    Source Moodyscre

    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 Flagship Commercial Real Estate

    Overview

    North Andover Office Space Available

    This office space, constructed with wood and steel, features central air conditioning and gas heat. The property includes handicap access, an elevator, and a common bathroom. Ample parking is available. Town water and sewer services are provided. The property size is 2257 square feet.
    Location Intelligence

    Current Use by Public Records

    Sondarya Health n ... Spa & Massage Center Eyebrow Threading Hair Salon Andover Smiles Dental Office Bernardini Law P.C Law Firm Sondarya Skin Care Clinic

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    North Andover
    County
    Essex
    State
    Massachusetts
    Longitude
    -71.116
    Latitude
    42.6651

    Nearby Similar for Sale

    • Contact for pricing
      3,192 SF

      North Andover Office Condo For Sale

      Well-maintained office condo in North Andover Office Park.
      203 Turnpike Street Unit G1, North Andover, MA 01845
      View Details
    • $350,000
      1,299 SF

      Modern Office/Retail Space on Route

      Renovated office/retail space with high traffic count, near major routes.
      991-1003 Osgood St , North Andover, MA
      View Details
    • Contact for pricing
      9,224 SF

      North Andover Medical Office Condo

      Full-floor medical office condo with easy highway access.
      203 Turnpike Street Unit 200, North Andover, MA 01845
      View Details
    • $850,000
      3,437 SF

      Modern Office/Retail Space on Route

      Renovated office/retail space with high traffic and flexible layout.
      989-991 Osgood St #989-991, North Andover, MA 01845
      View Details
    • $50,000
      426 SF

      Professional Office Park Unit

      Office space in professional park near major highways.
      231 Sutton St 2L, North Andover, MA 01845
      View Details
    • Contact for pricing
      1,650 SF

      North Andover Office Condominium

      Office condominium for sale in an amenity-rich location.
      873 Turnpike Street, North Andover, MA 01845
      View Details
    • $199,900
      1,100 SF

      North Andover Office Space For Sale

      Well-located 1,100 SF office space in North Andover, MA.
      871 Turnpike St #106, North Andover, MA 01845
      View Details
    • $350,000
      1,299 SF

      Modern Office/Retail Space For Sale

      Class A office/retail space, renovated in 2023, high traffic location.
      989 Osgood #989, North Andover, MA 01845
      View Details
    • Contact for pricing

      Professional Office Condo For Sale

      Office condominium with elevator access, ample parking, and kitchen.
      565 Turnpike Street, Suite 80, North Andover, MA 01845
      View Details
    • Contact for pricing
      94,328 SF

      First-Class Office Space Available

      Office park with updated amenities and convenient highway access.
      790 & 800 Turnpike Street, North Andover, MA 01845
      View Details
    • $200,000
      1,650 SF

      Turnpike Street Office Condo For Sale

      Office condo with six offices, reception area, and bathrooms.
      873 Turnpike Street #202, North Andover, MA 01845
      View Details
    • Contact for pricing
      15,228 SF

      Retail/Office Condominium in North Andover

      Retail/office condominium space available in North Andover, Massachusetts.
      1007 Osgood Street, North Andover, MA 01845
      View Details

    FAQs

    What type of property is this?
    Office units - Office space for sale in North Andover, Massachusetts.
    Where is this office units located?
    The property is located at 565 Turnpike St North Andover, MA.
    What is the asking price?
    The asking price for this property is $119,000.
    What are key features of this property?
    This property features: Elevator for easy access to all floors.; Handicap access ensures inclusivity.; Ample parking available for tenants and visitors.
    (978) 686-2111
    We can help!
    Listing Contact
    Henry F. Carpenito
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!