Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    790 Waverly Rd North Andover, MA 01845

    • Retail properties
    • 11,084 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 790 Waverly Rd

    Property size
    11,084 SF
    Property type
    Retail properties

    Description

    This exceptional 11,084 square foot retail space, formerly occupied by Petco, is available for lease in North Andover, Massachusetts. Located at 790 Waverly Road, this single-tenant property offers significant potential for a variety of retail businesses. The building's ample size provides flexibility for layout and design, catering to diverse operational needs. The property boasts a substantial amount of parking, ensuring convenient access for customers and employees. Situated in Essex County, this prime location benefits from excellent visibility and accessibility, making it an ideal choice for businesses seeking high foot traffic and strong community presence. The property is completely vacant, presenting a blank canvas for a new tenant to customize and establish their brand. The address is 790 Waverly Rd, North Andover, MA 01845. This is a rare opportunity to secure a large, well-located retail space in a thriving Massachusetts community. The property type is classified as commercial retail. The building's total square footage is 11,084 square feet, all of which is currently vacant. The property features a large parking area. This presents a unique chance to establish a strong retail presence in a desirable location. The property is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    North Andover
    County
    Essex
    State
    Massachusetts
    Longitude
    -71.1329
    Latitude
    42.6778

    Comparable in this City

    • Value Estimation by Request
      76,741 SF

      175 Turnpike St

      Lifestyle centers • 76,741 SF
      175 Turnpike St, North Andover, MA 01845
      View Details
    • Value Estimation by Request
      2,129 SF

      99 Turnpike St

      Retail properties • 2,129 SF
      99 Turnpike St, North Andover, MA 01845
      View Details
    • Value Estimation by Request
      3,974 SF

      162 Sutton St

      Restaurants • 3,974 SF
      162 Sutton St, North Andover, MA 01845
      View Details
    • Value Estimation by Request
      24,000 SF

      550 Tpke St Rte

      Neighborhood centers • 24,000 SF
      550 Tpke St Rte, North Andover, MA 01845
      View Details
    • Value Estimation by Request
      4,000 SF

      162 Sutton St

      Lifestyle centers • 4,000 SF
      162 Sutton St, North Andover, MA 01845
      View Details
    • Value Estimation
      $715,000
      26,700 SF

      27 Charles St

      SHOW ROOM, WAREHOUSE • 26,700 SF
      27 Charles St, North Andover, MA 01845-1664
      View Details

    Similar Nearby for Sale

    • $2,750,000
      2.85 Acres

      North Andover Commercial Land & Businesses

      Prime 3-acre lot with two thriving businesses.
      1591 Osgood St, North Andover, MA 01845
      View Details
    • $350,000
      1,299 SF

      Modern Office/Retail Space on Route

      Renovated office/retail space with high traffic count, near major routes.
      991-1003 Osgood St, North Andover, MA 01845
      View Details
    • $400,000

      Established Restaurant Business For Sale

      Award-winning restaurant with loyal customer base and growth potential.
      123-ABC Popular Food Stop Way, North Andover, MA 01845
      View Details
    • $350,000

      Modern Office/Retail Space on Route

      Renovated office/retail space with high traffic and modern design.
      989 Osgood 989, North Andover, MA 01845
      View Details
    • $350,000
      1,299 SF

      Modern Office/Retail Space For Sale

      Class A office/retail space, renovated in 2023, high traffic location.
      989 Osgood St, North Andover, MA 01845
      View Details
    • $1,200,000
      5,439 SF

      Renovated Office/Retail Space on Route

      Modern, renovated office/retail space with high traffic exposure.
      989-995 Osgood St, North Andover, MA 01845
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      46,104 SF

      First & Main: North Andover Office

      Prime North Andover office space, multiple suites available.
      109 Main St, North Andover, MA 01845
      View Details
    • Contact for pricing

      North Andover Retail Development Opportunity

      New development on Route 114 with high traffic volume.
      North Andover, MA 01845
      View Details
    • Contact for pricing
      1,650 SF

      Former Restaurant and Retail Spaces

      Restaurant and retail spaces available for lease.
      542-562 Turnpike St, N Andover, MA 01845
      View Details
    • Contact for pricing
      2,129 SF

      Retail Space in Eaglewood Shops

      Retail spaces available in North Andover's primary retail corridor.
      93-115 Turnpike St, North Andover, MA 01845
      View Details
    • $3,400 /Mo
      2,117 SF

      Versatile Commercial Space on Rt. 125

      2,117 sq. ft. space ideal for office or retail.
      1211 Osgood St, North Andover, MA 01845
      View Details
    • Contact for pricing
      7,000 SF

      Turnpike Street Retail Opportunity

      Prime North Andover Retail Space
      785 Turnpike St, North Andover, MA 01845
      View Details
    Request Owner's contact information
    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.
    790 Waverly Rd
    North Andover, MA 01845
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.