Property profile

1 Tech Dr Andover, MA 01810

FOR LEASE
Office buildings
Property ID
US38-1222241
90,557 SF 6.49 ac lot Built 1981
Entity Owned 6-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

One Tech Drive is a Class A office building in Andover, Massachusetts, with approximately 120,000 square feet of total space. The property is located at the I-93 and River Road interchange, providing access to I-495 and connectivity to Route 128/I-95, and is positioned for commuting and regional travel to Downtown Boston, Logan International Airport, and the MBTA Commuter Rail. It is situated within Andover’s retail, dining, and hospitality corridor near restaurants, retail amenities, hotels including Sonesta ES Suites and DoubleTree by Hilton, and Andover Country Club, with scenic outdoor trails and a concentration of corporate headquarters in the surrounding area. The building is configured for flexible office occupancy, with suite sizes ranging from approximately 1,000 to 21,000 square feet, and includes modern interior finishes, upgraded common areas and lobby, and an on-site grab-n-go cafe. Surface parking is available for employees and visitors.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1981
Construction STEEL FRAME
Total area 90,557 SF
Lot 6.49 ac (282,704 SF)
Zoning code ID
APN ANDO M:00166 B:00015 L:0000B
UPID US38-1222241

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • (Bike/Boat/Book/etc) Store Printing Service
  • Insurance Agency
  • Industrial Manufacturer Production Facility
  • Advertising Agency Marketing & Advertising
  • Power Station

Location

1 Tech Dr Andover, MA 01810
Andover metro Census 254402 BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$16.25M
Blend (final) Blend
$17.16M

Owner & transaction history

since 2019
5 recorded transactions
2019
$8.3M
2016
Price N/A
2016
$4.5M
2005
$2.0M
1999
$11.9M

Zoning & alternative use

ID · Andover, MA
Zoning description

INDUSTRIAL D DISTRICT (ID). 8.1.1 General. All development in an Industrial D District shall be subject to the following, unless a special permit to vary these requirements is granted by the Zoning Board of Appeals, upon…

General category INDUSTRIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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