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Property profile & analytics
FOR LEASE
Office buildings
10 New England Business Center Dr, Andover, MA 01810
Entity Owned
10-yr Hold
Free & Clear
Property ID
US38-0567536
For Lease
1 / 2
$17,505,000
10 New England Business Center Dr, Andover, MA 01810
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1988
Construction
STEEL FRAME
Total area
88,795 SF
Lot
7.31 ac (318,424 SF)
Zoning code
ID2
APN
ANDO M:00142 B:00002 L:00000
UPID
US38-0567536
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
-
Jeffrey K Kutz - Financial Advisor, Ameriprise Financial Services, LLC Financial Advisor
-
Necc Corporation Landscaping General Contractor
-
Moriarty Financial Group Financial Advisor
-
Cox Capital Management Financial Advisor
-
Peter Morin, Financial Professional - New York Life Insurance Company Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$17.08M
Blend (final)
Blend
$17.51M
Owner & transaction history
Andover Mcb LLC · 10 yrs held
Andover Mcb LLC
since 2016
2 recorded transactions
Zoning & alternative use
ID2 · Andover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$28.4M
+26.1%
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
$22,515,000
Current use
APARTMENT HOUSE (5+ UNITS)
$28,390,000
Change: +26% · Conversion: Easy
AUTO REPAIR, GARAGE
$21,270,000
Change: -6% · Conversion: Difficult
RETAIL STORES
$19,750,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$17.51M
Range $15.75M – $19.26M · ±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
$197 / 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
$313,567
Tax year 2024
Assessed value
$12,306,400
Assessed 2024
Previous assessed
$10,378,000
+18.6% YoY
Effective rate
2.55%
On assessed value
Assessed land
$2,950,600
Assessed improvement
$9,355,800
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
1988
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
24
Bathrooms
12
Total area
88,795 SF
Lot
7.31 ac (318,424 SF)
Zoning code
ID2
APN
ANDO M:00142 B:00002 L:00000
UPID
US38-0567536
Jurisdiction
ANDOVER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
ID2 · Andover, MA
Zoning ID2 · permitted uses
ID2 · 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
$22.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$28.4M
AUTO REPAIR, GARAGE
Est. value
$21.3M
RETAIL STORES
Est. value
$19.8M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
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
1988
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
24
Bathrooms
12
Lot
7.31 ac
Current owner
From public records · entity-resolved
Andover Mcb LLC
Entity
Free & Clear · 10 yrs held
Mailing address
107 AUDUBON RD STE #2, WAKEFIELD, MA 01880-1245
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 2, 2016
$32,000,000
Andover Mcb LLC
Nebc Andover LLC
Quit Claim Deed
—
Dec 20, 2012
$20,900,000
Nebc Andover LLC
Nb Ms Nebc LLC
Grant Deed
$14,200,000 · Brookline 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.
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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