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

    77 Main St, Unit 2nd floor Andover, MA 01810

    Sponsored
    For Lease
    $1,125 /Mo

    600 SF. Office Space for Lease

    Property Features for 77 Main St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    TSF (Total sq. ft)
    600-600 SF
    USF (Usable sq. ft)
    600-600 SF
    Elevators
    No
    Total Rate
    1125
    Lease Term
    3-4 Years

    Amenities

    Building Details

    Year Renovated
    2021
    Buildings
    1
    Stories
    2

    Overview

    Downtown Andover Office Space

    Located at 77 Main Street in Andover, Massachusetts, this office space offers a renovated and professional setting. The 600-square-foot space is suitable for accommodating 3–4 people and features central air and heat, along with full carpeting. Two storage closets are available, one of which includes built-in shelving. A conference room is accessible on the same floor. On-site property management is provided. The location provides convenient access to downtown restaurants, coffee shops, banks, retail options, and the post office. Additionally, the property is close to the train station and offers easy access to Routes 495 and 93.

    We can help!

    Listing Contact
    Theresa Brown

    Learn more

    Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Andover
    State
    Massachusetts
    Longitude
    -71.139720512259
    Latitude
    42.65450275

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      Brickstone Square

      Discover many ways to work your way in Brickstone Square
      300 Brickstone Sq, Andover, MA 01810
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space in Andover Plaza

      Retail space available in a busy Andover shopping center.
      209 N Main St, Andover, MA 01810
      View Details
    • Contact for pricing
      43,620 SF

      Class A Office Building Andover

      Premier office and R&D space near I-93 and I-495.
      6 Riverside Dr, Andover, MA 01810
      View Details
    • Contact for pricing
      44,407 SF

      Office Space with Amenity Center

      Office space with planned amenity center, fitness, and recreation.
      3000 Minuteman Rd, Andover, MA 01810
      View Details
    • Contact for pricing
      21,000 SF

      Class A Office Space Andover

      Class A office park with suites available in Andover, MA.
      1 Tech Dr, Andover, MA 01810
      View Details
    • Contact for pricing
      237,705 SF

      Andover Office/R&D Building For Rent

      Class A headquarters with modern design and robust infrastructure.
      800 Federal St, Andover, MA 01810
      View Details
    • Contact for pricing
      7,279 SF

      Andover Office Space For Rent

      Office space available near Route 93 in Andover, MA.
      138 River Rd, Andover, MA 01810
      View Details
    • Contact for pricing
      16,585 SF

      Downtown Office Space For Lease

      Office space available for lease in a downtown location.
      11 Chestnut St, Andover, MA 01810
      View Details
    • Contact for pricing
      5,497 SF

      Fitness Space in Andover

      5,497 SF fitness space with amenities and highway access.
      35 New England Business Center Dr, Andover, MA 01810
      View Details
    • Contact for pricing
      3,209 SF

      Class A Office Space Available

      Class A office space with fitness center and convenient highway access.
      10 New England Business Center Dr, Andover, MA 01810
      View Details
    • Contact for pricing

      Downtown Andover Commercial Space

      Renovated 2,200 SF space in the heart of Andover.
      2 Punchard Ave, Andover, MA 01810
      View Details
    • Contact for pricing

      Downtown Andover Office Space Rental

      Prime office space in downtown Andover with included utilities.
      68 Park St, Andover, MA 01810
      View Details

    FAQs

    What type of property is this?
    Office Property / Space - 600 SF. Office Space for Lease
    Where is this office property / space located?
    The property is located at 77 Main St, Unit 2nd floor Andover, MA.
    What is the lease rate?
    The lease rate is $1,125 /Mo.
    What are key features of this property?
    This property features:
    (978) 475-9796
    Request Owner's contact information
    77 Main St, Unit 2nd floor Andover, MA 01810
    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.
    77 Main St, Unit 2nd floor
    Andover, MA 01810
    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
    77 Main St, Unit 2nd floor Andover, MA 01810
    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

    We can help!
    Listing Contact
    Theresa Brown
    (978) 475-9796
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!