Financial
Distress signals
Property profile

31 Flagship Dr North Andover, MA 01845

FOR LEASE
Manufacturing properties
Property ID
US38-0577840
15,921 SF 1.86 ac lot Built 1981
Last sale Dec 2025 · $2,425,000
Entity Owned Owner of record is a legal entity (LLC / corporation). ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

A flex/industrial unit located at 31 Flagship Dr in North Andover, Massachusetts, configured with a combined layout of approximately 1,200 square feet of office space and about 2,000 square feet of warehouse space. The warehouse area provides loading dock access and offers approximately 14-foot clear height throughout. The unit has separate utility metering. Within the development, units are similarly designed with loading dock access to support deliveries and receiving operations. The space is

Ownership intelligence

Who controls the opportunity?

Resolved identity, portfolio, hold profile and investor signals. Included in the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2024

What does the county charge?
$27k
Tax billed · 2024
Assessed value$1.75M
Assessed land$359k
Assessed improvement$1.39M
Effective rate1.56%

Value estimate

· Sep 2026
$2.48M
$2.23M – $2.72M
CAP approach$2.61M
Sales comparison$2.45M
NOI build-up
Gross scheduled income$51k
Vacancy & credit loss−$3k
Operating expenses−$15k
NOI · 243,128.57% cap applied$34k

Realmo valuation models over county records and 5 qualifying comparable sales.

Recently sold

What actually traded nearby?
$164/SF
County average, outlier-cleaned · 211 recorded sales of this use type
Observed band · Q1–Q3$100 – $254
Qualifying comparables5

Cap rate analysis

How does the asset earn?
243,128.57%
$34k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
I1
JurisdictionNORTH ANDOVER

Location intelligence

Which uses thrive at this corner?
Best fit: Building Supply
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Building Supply12.7
Restaurant12.4
Wholesale Shop11.7

Location

31 Flagship Dr North Andover, MA 01845
County assessor Recorded deeds · 1 transfer 5 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 9 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
150 Flagship, North Andover, MA 01845-6117 $15,350,000 Jan 2026 74,777 SF
165 Flagship, North Andover, MA 01845-6119 $4,650,000 Feb 2023 35,708 SF
100 Flagship, North Andover, MA 01845-6117 $5,720,000 Oct 2022 37,200 SF
335 Willow, North Andover, MA 01845-5921 $3,551,000 Oct 2019 45,420 SF
100 Willow, North Andover, MA 01845-5918 $2,544,000 Jun 2019 25,424 SF
400 Willow, North Andover, MA 01845-5934 $3,400,000 Jan 2019 28,198 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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