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Property profile & analytics
FOR LEASE
Office buildings
1 Tech Dr Andover, MA 01810
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US38-1222241
For Lease
1 / 2
$17,160,000
1 Tech Dr, Andover, MA 01810
View Listing →
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
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Ricoh USA Inc (Bike/Boat/Book/etc) Store Printing Service
-
Segreve & Hall Insurance Associates Inc. Insurance Agency
-
Memsic Inc Industrial Manufacturer Production Facility
-
ESM Digital Advertising Agency Marketing & Advertising
-
Ware Shoals Hydroelectric Project Power Station
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
Sunset Rock LLC · 6 yrs held
Sunset Rock LLC
since 2019
5 recorded transactions
Zoning & alternative use
ID · Andover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Andover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Andover submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$22,965,000
Current use
AUTO REPAIR, GARAGE
$21,690,000
Change: -6% · Conversion: Difficult
RETAIL STORES
$20,140,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$17.16M
Range $15.44M – $18.88M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$189 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$265,639
Tax year 2024
Assessed value
$10,425,400
Assessed 2024
Previous assessed
$8,814,000
+18.3% YoY
Effective rate
2.55%
On assessed value
Assessed land
$4,281,400
Assessed improvement
$6,144,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1981
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
15
Bathrooms
12
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
Jurisdiction
ANDOVER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
ID · Andover, MA
Zoning ID · permitted uses
ID · Andover, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Andover. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$23.0M
AUTO REPAIR, GARAGE
Est. value
$21.7M
RETAIL STORES
Est. value
$20.1M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1981
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
15
Bathrooms
12
Lot
6.49 ac
Current owner
From public records · entity-resolved
Sunset Rock LLC
Entity
Mailing address
1471 METHUEN ST, DRACUT, MA 01826-5439
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 6, 2019
$8,275,000
Sunset Rock LLC
Ws Nv 1 Andover Tech LLC
Quit Claim Deed
$6,620,000 · Citizens Bk/ri
Jun 20, 2016
—
Ws Nv 1 Andover Tech L
—
Deed
related
$40,000,000 · Belmont Savings Bank
Mar 2, 2016
$4,500,000
Ws Nv 1 Andover Tech LLC
Rreef America Reit 3-z1
Quit Claim Deed
—
Nov 16, 2005
$2,000,842
Rreef America Reit Corp
Bcia Ne Hldgs LLC
Grant Deed
—
Jun 23, 1999
$11,888,095
Bcia New Eng Hldgs LLC
Mgi 1 Tech Andover
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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