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Property profile & analytics
OFF-MARKET
Estimated value
$5,285,000
Retail space
10 Main St 16 Andover, MA 01810-3717
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US38-0969300
Property summary
AI-generated overview
This exceptional three-story commercial property, located at 10 Main St. in Andover, Essex County, offers a unique opportunity for businesses seeking flexible office space in a prime downtown location. Built in 1910 and extensively renovated in 2022, this historic building boasts 41,824 square feet of total space, with 8,438 square feet currently vacant and immediately available. The property is zoned GB and features a single elevator, serving all three floors. The minimum divisible space is 875 square feet, while the maximum contiguous space available is 8,438 square feet. This allows for a variety of tenant needs, from smaller startups to larger established businesses. The building sits on a 0.58-acre lot, with a floor area ratio (FAR) of 1.66. Its location at a major intersection on Main St. provides excellent visibility and accessibility. The property's recent renovation ensures modern amenities within a beautifully preserved historic structure. Interested parties should inquire about pricing and lease terms. The APN is ANDO-000039-000026.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1910
Construction
STEEL FRAME
Total area
39,517 SF
Lot
0.56 ac (24,350 SF)
Zoning code
GB
APN
ANDO M:00039 B:00026 L:00000
UPID
US38-0969300
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
-
Andover Dental Care - Charles F. McQuade DMD Dental Office
-
Morocco Daniel Physician Medical Clinic
-
Andover Christian Center Church
-
Casa Blanca Restaurant
-
Chyten Educational Services of Andover Tutoring Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.02M
Blend (final)
Blend
$5.29M
Owner & transaction history
32 Pk Place LLC · 7 yrs held
32 Pk Place LLC
since 2019
7 recorded transactions
Zoning & alternative use
GB · 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
RETAIL STORES
$8,790,000
Current use
COMMERCIAL (GENERAL)
$7,875,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$5.29M
Range $4.76M – $5.81M · ±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
$134 / 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
$147,144
Tax year 2024
Assessed value
$5,774,900
Assessed 2024
Previous assessed
$5,269,100
+9.6% YoY
Effective rate
2.55%
On assessed value
Assessed land
$869,700
Assessed improvement
$4,905,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1910
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
16
Bathrooms
14
Total area
39,517 SF
Lot
0.56 ac (24,350 SF)
Zoning code
GB
APN
ANDO M:00039 B:00026 L:00000
UPID
US38-0969300
Jurisdiction
ANDOVER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
GB · Andover, MA
Zoning GB · permitted uses
GB · 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
RETAIL STORES Current
Est. value
$8.8M
COMMERCIAL (GENERAL)
Est. value
$7.9M
RETAIL STORES Current
COMMERCIAL (GENERAL)
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
1910
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
16
Bathrooms
14
Lot
0.56 ac
Current owner
From public records · entity-resolved
32 Pk Place LLC
Entity
Mailing address
100 GALLOUPES PT RD, SWAMPSCOTT, MA 01907-2739
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
17 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 10, 2025
—
10 Main Street LLC
—
Deed
related
$2,700,000 · Lowell Five Cents Savings Bank
Dec 10, 2024
—
10 Main Street LLC
—
Deed
related
$250,000 · Lowell Five Cents Savings Bank
May 19, 2022
—
10 Main Street LLC
—
Deed
related
$400,000 · Lowell Five Cents Savings Bank
Feb 3, 2021
—
23 Main St LLC
—
Deed
related
$12,375,000 · Lowell Five Cents Savings Bank
May 6, 2020
—
10 Main St LLC
—
Deed
related
$8,500,000 · Lowell Five Cents Savings Bank
Apr 18, 2019
$50,000
32 Pk Place LLC
10 Main St LLC
Quit Claim Deed
—
Jun 24, 2010
—
10 Main Street LLC
—
Deed Of Trust
related
$1,300,000 · Sovereign Bank
Aug 10, 2004
—
10 Main Street LLC
—
Deed Of Trust
related
$3,700,000 · Sovereign Bank
Mar 15, 2002
—
10 Main Street LLC
—
Deed Of Trust
related
$1,652,300 · First Essex Bank
Sep 10, 1999
—
Ten Main St LLC
—
Deed Of Trust
related
$5,000,000 · First Essex Savings Bank
Sep 1, 1998
—
R Thomas Belhumeur
—
Deed Of Trust
related
$20,490,900 · First Essex Savings Bank
Aug 30, 1996
—
Barnard Buiding RT
—
Deed Of Trust
related
$2,600,000 · First Essex Savings Bank
Jun 21, 1995
—
Barnard Bldg RT
—
Deed Of Trust
related
$2,200,000 · Gary Needham
Dec 14, 1993
$2,150,000
Barnard Building RT
Ten Main Street INC
Grant Deed
$1,700,000 · Gary Needham
Dec 14, 1993
—
Barnard Building RT
—
Deed Of Trust
related
$350,000 · Family Mutual Savings Bank
Dec 21, 1988
—
William J Scanlon
—
Deed Of Trust
related
$100,000 · New Heritage Bank & Trust
Oct 9, 1987
—
William J Scanlon
—
Deed Of Trust
related
$3,600,000 · Family Mutual Savings Bank
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.
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