Renovated Brick Office
For Sale
$1,100,000
6 Windsor St, Andover, MA 01810
Four-level, ADA-accessible office building with central HVAC, private offices, meeting rooms, kitchen, and on-site parking.
Property Size4,368 SF
Lot Size0.25 Acres
Price / SF$251.83
Days on Market48
Property Features for 6 Windsor St
General Information
Standard status
Active
Size
4,368 SF
Lot size
0.25 Acres
Property subtype
Commercial
Additional Details
Highway Access
Yes
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$26,082
Building Details
Building Size
4,368 SF
Year Built
1917
Stories
4
Listing Agency:
Keller Williams Realty Success
(978) 269-5445
Listed By:
Faulkner Commercial Group · License #066987
(978) 269-5445
Source:
Elliman
Added: Jul 6
Changed: Aug 14
Last Checked: Aug 22 at 8:36AM
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 Keller Williams Realty Success
Investment Insights
Based on property information with market context.
Beautifully renovated 4,368 SF brick building built in 1917 on a 0.25-acre parcel. The property includes four levels of functional space with multiple private offices and meeting rooms, plus a restroom on each floor. A full kitchen supports everyday operations, while central HVAC helps maintain consistent comfort throughout. The building also features a three-car garage and on-site parking for staff and visitors. Recent capital improvements include new windows, upgraded electrical and plumbing systems, HVAC, a 2-inch water main, commercial fire suppression and sprinkler systems, and a backup generator. ADA accessibility is supported by an ADA access ramp and an ADA-compliant first-floor restroom.
The building is located in the Shawsheen Village District in Andover and is positioned to benefit from excellent visibility and convenient access to Routes 28, 93, and 495. Walkability is supported by a walk score of 85, with bikeability described as somewhat bikeable.
With a flexible layout and robust systems, the property can fit a range of professional and community-oriented uses, including professional office, medical, wellness, educational, and nonprofit operations. Depending on local approvals, it may also support potential multi- or single-family uses, offering an adaptable option for buyers evaluating owner-occupant or conversion strategies.
The building is located in the Shawsheen Village District in Andover and is positioned to benefit from excellent visibility and convenient access to Routes 28, 93, and 495. Walkability is supported by a walk score of 85, with bikeability described as somewhat bikeable.
With a flexible layout and robust systems, the property can fit a range of professional and community-oriented uses, including professional office, medical, wellness, educational, and nonprofit operations. Depending on local approvals, it may also support potential multi- or single-family uses, offering an adaptable option for buyers evaluating owner-occupant or conversion strategies.
Key Highlights
- Four‑level, 4,368 SF brick building built in 1917 on a 0.25‑acre parcel in the Shawsheen Village District
- Renovated interior with central HVAC, full kitchen, and multiple private offices and meeting rooms
- Restroom on each floor, including an ADA‑compliant first‑floor restroom and ADA access ramp
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$80,574
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,611,480
$1.6M
Cap Rate 7%
$1,151,057
$1.2M
Cap Rate 9%
$895,267
$895.3K
Market Conditions
NOI Build-Up for 4,368 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$146.8K $33.60/SF
− Vacancy
−$12.5K −$2.86/SF
EGI
$134.3K $30.74/SF
− OpEx
−$53.7K −$12.30/SF
NOI
$80.6K $18.45/SF
Area
Essex County, MA
Vacancy
8.50%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,611,480
Cap Rate 7%
$1,151,057
Cap Rate 9%
$895,267
Alternative Uses
Best Use
Office B
$1.74M
$1.52M – $2.03M
NOI $121,749 @ 7.0% cap · market cap 11.07%
Second Best
Healthcare Medical
$1.15M
$1.01M – $1.34M
NOI $80,574 @ 7.0% cap · market cap 7.32%
Theoretical Best
Office A
$2.59M
$2.26M – $3.02M
NOI $181,009 @ 7.0% cap · market cap 16.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
499
Businesses Nearby
Explore this area
Business Placement
Demographics for 01810, MA
35,621
Population
13,803
Households
2.6
Avg Household Size
43
Median Age
75%
College-Educated
97%
High-School Grad
30.5 sq mi
ZIP Area
1,168
Density / Sq Mi
$167,591
Median Household Income
$86,838
Median Earnings
$2,046
Median Rent
$813,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Four-level, ADA-accessible office building with central HVAC, private offices, meeting rooms, kitchen, and on-site parking.
Where is this office building located?
The property is located at 6 Windsor St Andover, MA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Four‑level, 4,368 SF brick building built in 1917 on a 0.25‑acre parcel in the Shawsheen Village District; Renovated interior with central HVAC, full kitchen, and multiple private offices and meeting rooms; Restroom on each floor, including an ADA‑compliant first‑floor restroom and ADA access ramp
