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Property profile & analytics
OFF-MARKET
Estimated value
$895,000
Office buildings
1049 Tpke St, North Andover, MA 01845-6109
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US38-1348298
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1930
Total area
2,052 SF
Lot
0.98 ac (42,689 SF)
Zoning code
I1
APN
NAND M:00107 B:C0017 L:00000
UPID
US38-1348298
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
-
International Brotherhood of Electrical Workers Advocacy Group
-
Barrett Development Co Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$940k
Comparable Approach
Comparable
$805k
Blend (final)
Blend
$895k
Owner & transaction history
Local Union 2321 Bui Corp · 19 yrs held
Local Union 2321 Bui Corp
since 2007
7 recorded transactions
Zoning & alternative use
I1 · North Andover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$555,000
+20.5%
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 North Andover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North 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%
$1,015,000
6.5%
$940,000
7%
$870,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$555,000
Change: +20% · Conversion: Easy
Blend value · Realmo final
$895k
Range $806k – $985k · ±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
$436 / 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
$9,093
Tax year 2024
Assessed value
$582,900
Assessed 2024
Previous assessed
$582,900
+0.0% YoY
Effective rate
1.56%
On assessed value
Assessed land
$346,700
Assessed improvement
$236,200
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1930
Heating
FORCED AIR
Buildings
1
Stories
2
Units
1
Total area
2,052 SF
Lot
0.98 ac (42,689 SF)
Zoning code
I1
APN
NAND M:00107 B:C0017 L:00000
UPID
US38-1348298
Jurisdiction
NORTH ANDOVER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
I1 · North Andover, MA
Zoning I1 · permitted uses
I1 · North Andover, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Andover. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$555,000
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
1930
Heating
FORCED AIR
Stories
2
Buildings
1
Units
1
Lot
0.98 ac
Current owner
From public records · entity-resolved
Local Union 2321 Bui Corp
Entity
Mailing address
1049 TPKE ST, NORTH ANDOVER, MA 01845-6109
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 30, 2007
$475,000
Local Union 2321 Bui Corp
Barrett,william K
Grant Deed
$451,250 · Nmtw Community Cu
Nov 8, 2006
—
William K Barrett
—
Deed Of Trust
related
$130,000 · Kathleen A Bligh
Sep 1, 2006
$1
William K Barrett
49 RT
Grant Deed
—
Mar 27, 2000
—
1049 RT
—
Deed Of Trust
related
$192,000 · Northmark Bank
Jun 20, 1996
—
1049 RT
—
Deed Of Trust
related
$115,500 · Stoneham Savings Bank
Mar 3, 1995
$49,875
1049 RT
Colonial Village Dev
Grant Deed
$75,000 · Zwi Kohorn
Feb 23, 1995
$49,875
Colonial Village Dev
Allicon,florence B
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.
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