Commercial Real Estate Market in North Andover, MA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
88 active listings and 568 off-market properties in North Andover, MA. Commercial property asks $145/SF to buy and $24.59/SF/Yr to lease.
Market Trends
North Andover, MA spans 26.4 square miles in Essex County, Massachusetts. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in North Andover, MA runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
Retail
Retail vacancy in North Andover, MA runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in North Andover, MA runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in North Andover, MA asks $324/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Market overview
Demographics & Economy
North Andover, MA has 31,855 residents in 12,010 households. Density runs 1,206 people per square mile. Median household income here is $134,319 and median gross rent $2,113 a month.
31,855
Population
12,010
Households
2.7
Avg Household Size
39
Median Age
61%
College-Educated
97%
High-School Grad
26.4 sq mi
ZIP Area
1,206
Density / Sq Mi
$134,319
Median Household Income
$64,592
Median Earnings
$2,113
Median Rent
$670,000
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Boxford | — | — |
| Lawrence | — | $20.20 |
| Andover | — | $28.99 |
| Georgetown | — | $30.33 |
Commercial property in North Andover, MA asks $145/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in North Andover?
Commercial property in North Andover, MA asks an average of $145 per square foot. The 7 most recent recorded sales traded at a median of $227/SF. Multifamily carries the highest asking price at $324/SF.
How much does it cost to lease commercial space in North Andover?
Asking lease rates in North Andover, MA average $24.59 per square foot per year.
Where does Realmo's North Andover market data come from?
Realmo compiles North Andover, MA figures from 8 recent recorded sales, 46 active sale listings, 42 active lease listings, 568 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 46 active for-sale and 42 active for-lease listings in North Andover, MA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
