Private Office
68 Park St #5, Andover, MA 01810
For Sale
Contact for pricing
Heat and electricity are included, alongside shared conference facilities and restrooms.
Property Size186 SF
Price / SF$8.06
Days on Market12
Property Features for 68 Park St #5
General Information
Standard status
Size
Additional Details
Property Use
Amenities
conference room
Building Details
Year Built
Listing Agency:
Lillian Montalto Signature Properties
Listed By:
Team Lillian Montalto
(978) 475-1400
Source:
Lockandkeyre
Added: Nov 2
Changed: Nov 12
Last Checked: Nov 12 at 8:39AM
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 Lillian Montalto Signature Properties
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This private office is located in an 1895 building in downtown Andover. Occupants have shared use of a conference room and restrooms, and heat and electricity are included.
The property is at 68 Park St #5, close to local shops and restaurants. Off-street parking is available.
The property is at 68 Park St #5, close to local shops and restaurants. Off-street parking is available.
Key Highlights
- Private office in an 1895 building
- Heat and electricity included
- Shared conference room and restroom access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,184
Suggested Prices Based on Cap Rates
Cap Rate 5%
$103,680
$103.7K
Cap Rate 7%
$74,057
$74.1K
Cap Rate 9%
$57,600
$57.6K
Market Conditions
NOI Build-Up for 186 SF
Gross rent
$8.5K $45.60/SF
− Vacancy
−$1.6K −$8.44/SF
EGI
$6.9K $37.16/SF
− OpEx
−$1.7K −$9.29/SF
NOI
$5.2K $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%
$103,680
Cap Rate 7%
$74,057
Cap Rate 9%
$57,600
Alternative Uses
Best Use
Office B
$74.1K
$64.8K – $86.4K
NOI $5,184 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$110.1K
$96.4K – $128.5K
NOI $7,708 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,658
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
$813,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Office Units in Essex County, MA
Properties on Market for Office Units in Essex County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Heat and electricity are included, alongside shared conference facilities and restrooms.
Where is this office unit located?
The property is located at 68 Park St #5 Andover, MA.
What are key features of this property?
This property features: Private office in an 1895 building; Heat and electricity included; Shared conference room and restroom access
