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Property profile & analytics
OFF-MARKET Estimated value $520,000
Specialty properties

1 Elm Sq Ste 1b Andover, MA 01810-3643

2,494 SF Built 1966
Entity Owned 5-yr Hold Free & Clear
Property ID
US38-0216913
Property summary
AI-generated overview

This exceptional commercial property, located at 1 Elm Square L91, Andover, MA, presents a unique investment opportunity. Situated in the heart of downtown Andover, this 0.68-acre lot offers unparalleled accessibility and visibility. The property boasts a lower-level retail or office space, ideal for a variety of uses. The space currently functions as a yoga/dance studio and features three rooms equipped with large mirrors, a spacious lobby/reception area, and ample natural light. Two dedicated parking spaces are included, adding significant convenience for both tenants and clients. The building itself is equipped with an elevator, ensuring accessibility for all, and includes a FedEx drop-off box for added convenience. Its prime location places it within easy walking distance of banks, numerous shopping options, a variety of restaurants, and the commuter rail, guaranteeing high foot traffic and excellent exposure. The iconic building's central location and limitless possibilities make this a truly desirable property in a thriving downtown area. This is an exceptional opportunity to acquire a well-maintained commercial space in a high-demand location. The asking price is $300,000.

Property profile
Verified
Property type Specialty properties
Use group CHARITABLE ORGANIZATION
Year built 1966
Construction STEEL FRAME
Total area 2,494 SF
Zoning code GB
APN ANDO M:00038 B:00117 L:0001B
UPID US38-0216913
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Law Office of Andrew Caffrey, Jr. Law Firm
  • Philip J Byers Law Offices Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$700k
CAP Approach CAP
by Request
Comparable Approach Comparable
$356k
Blend (final) Blend
$520k
Owner & transaction history
Guardian Cmnty T INC · 5 yrs held
Guardian Cmnty T INC
since 2020
Last sale
$545,000
5 recorded transactions
2020
$553,000
2012
$1
2010
$545,000
2007
$500,000
1995
$166,971
Zoning & alternative use
GB · Andover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building $630,000 +15.8%
Auto repair, garage $595,000 +9.4%
Retail stores $555,000 +1.5%
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