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    451 Andover St North Andover, MA 01845

    Sponsored
    For Lease
    $22 SF/Yr

    Medical office suites for lease in prime location.

    Lot size:
    54,564 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents medical office condominiums available for lease within the prestigious North Andover Medical Park, situated in North Andover, Massachusetts. The park comprises two four-story buildings, totaling 54,564 square feet, offering flexible spaces ranging from a minimum of 413 square feet to a maximum contiguous space of 1,377 square feet. Built in 1972, the property features elevators for convenient access to all floors. The property is zoned B4 and benefits from a multi-tenant occupancy. The location is highly desirable, boasting excellent visibility and accessibility. It's strategically positioned at the intersection of Route 125 and Route 114, experiencing a high volume of vehicular traffic (42,500 vehicles per day according to MASSDOT 2019 data), and enjoys proximity to major roadways, including I-495 (Exit 42 is just one mile away). The surrounding area offers a wealth of amenities, including popular restaurants (Bertucci's, Burton's Grill & Bar, Chipotle), retail establishments (CVS, Rocky's Ace Hardware, Starbucks), and financial institutions (TD Bank). The property also benefits from its adjacency to Merrimack College and a strong tenant base, including Andover Pediatrics, North Andover Auto School, Steward Medical Group Primary Care of North Andover, Northeast Oral Surgery & Dental Implant Center, and Quest Diagnostics, among others. This presents a unique chance to establish or expand a medical practice in a thriving and well-connected community.

    Property Features for 451 Andover St

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    54,564 SF
    Total Rate
    104353.65

    Building Details

    Year Built
    1972
    Buildings
    2
    Stories
    4

    Unit(s) available at that property

    Space
    Suite G4
    Size
    1,048 SF
    Rate per SF
    $22
    Space
    Suite 190A
    Size
    413 SF
    Rate per SF
    $22
    Space
    Suite 195
    Size
    1,377 SF
    Rate per SF
    $22

    HighLights

    • Medical office condominiums available for lease.
    • Two‑building medical office park totaling 54,564 square feet.
    • Units range from 413 to 1,377 contiguous square feet.
    • Built in 1972, the property features four stories and elevators.
    • Located in North Andover, MA, with excellent access to major roadways (Route 125, Route 114, I‑495).
    • B4 zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Express Employment Professionals Employment Agency Foot Health Center ... Podiatrist Brian Fellows General Practitioner Cari Skin Care ... Skin Care Clinic Vida Wellness Day Spa

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store 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
    -71.1267274
    Latitude
    42.6732235

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    FAQs

    What type of property is this?
    Medical office - Medical office suites for lease in prime location.
    Where is this medical office located?
    The property is located at 451 Andover St North Andover, MA.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: Medical office condominiums available for lease.; Two-building medical office park totaling 54,564 square feet.; Units range from 413 to 1,377 contiguous square feet.
    Request Owner's contact information
    451 Andover St North Andover, MA 01845
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    Realmo Value Estimation

    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.

    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.

    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
    451 Andover St North Andover, MA 01845
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