Bright Office Suite with Bay
For Sale
Contact for pricing
63 Park Street Unit 201, Andover, MA 01810
Move-in ready office suite with bay windows, new carpeting, ductless HVAC, and an in-suite private restroom.
Property Size1,080 SF
Price / SF$0.03
Days on Market111
Property Features for 63 Park Street Unit 201
General Information
Standard status
Active
Size
1,080 SF
Property subtype
Commercial
Building Details
Year Built
1984
Listing Agency:
The Edge Group, Inc.
(978) 458-8822
Listed By:
Gary Sidell
(978) 375-7363
Source:
Lockandkeyre
Added: Jul 13
Changed: Oct 31
Last Checked: Oct 30 at 3:37PM
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 The Edge Group, Inc.
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Investment Insights
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This office suite offers a flexible layout designed to support both private offices and open workspace, with large bay windows that bring in abundant natural light. Recent updates include new carpeting throughout the space, and the suite is equipped with brand-new ductless HVAC systems for efficient year-round heating and cooling. A private restroom is also located within the suite for added convenience.
The property is located at 63 Park Street, Unit 201. It is being offered for sale and is suitable for office users seeking a bright, move-in ready configuration.
The suite’s combination of private office space, open areas, and in-suite restroom supports a practical day-to-day work environment.
The property is located at 63 Park Street, Unit 201. It is being offered for sale and is suitable for office users seeking a bright, move-in ready configuration.
The suite’s combination of private office space, open areas, and in-suite restroom supports a practical day-to-day work environment.
Key Highlights
- Move‑in ready office suite with new carpeting throughout
- Brand‑new ductless HVAC providing heating and air conditioning
- Large bay windows for abundant natural light
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,103
Suggested Prices Based on Cap Rates
Cap Rate 5%
$602,060
$602.1K
Cap Rate 7%
$430,043
$430.0K
Cap Rate 9%
$334,478
$334.5K
Market Conditions
NOI Build-Up for 1,080 SF
Gross rent
$49.2K $45.60/SF
− Vacancy
−$9.1K −$8.44/SF
EGI
$40.1K $37.16/SF
− OpEx
−$10.0K −$9.29/SF
NOI
$30.1K $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%
$602,060
Cap Rate 7%
$430,043
Cap Rate 9%
$334,478
Alternative Uses
Best Use
Office B
$430.0K
$376.3K – $501.7K
NOI $30,103 @ 7.0% cap · market cap 103,803.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$639.4K
$559.4K – $745.9K
NOI $44,755 @ 7.0% cap · market cap 154,327.59%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,658
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Move-in ready office suite with bay windows, new carpeting, ductless HVAC, and an in-suite private restroom.
Where is this office unit located?
The property is located at 63 Park Street Unit 201 Andover, MA.
What are key features of this property?
This property features: Move‑in ready office suite with new carpeting throughout; Brand‑new ductless HVAC providing heating and air conditioning; Large bay windows for abundant natural light
