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Property profile & analytics
OFF-MARKET
Estimated value
$4,315,000
Warehouses
11 Bayfield Dr, North Andover, MA 01845-6013
Trust Owned
9-yr Hold
~
Est. High Equity
Property ID
US38-1767067
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1985
Total area
42,459 SF
Lot
4.39 ac (191,228 SF)
Zoning code
I1
APN
NAND M:00025 B:00073 L:00000
UPID
US38-1767067
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
-
Material Installations Inc Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.85M
Blend (final)
Blend
$4.32M
Owner & transaction history
Bud Trust · 9 yrs held
Bud Trust
since 2017
5 recorded transactions
Zoning & alternative use
I1 · North Andover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$7.0M
+16.4%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$5,970,000
Current use
INDUSTRIAL (GENERAL)
$6,950,000
Change: +16% · Conversion: Easy
Blend value · Realmo final
$4.32M
Range $3.88M – $4.75M · ±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
$102 / 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
$52,790
Tax year 2024
Assessed value
$3,384,000
Assessed 2024
Previous assessed
$3,384,000
+0.0% YoY
Effective rate
1.56%
On assessed value
Assessed land
$1,062,100
Assessed improvement
$2,321,900
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1985
Heating
SPACE
Buildings
1
Stories
1
Units
1
Total area
42,459 SF
Lot
4.39 ac (191,228 SF)
Zoning code
I1
APN
NAND M:00025 B:00073 L:00000
UPID
US38-1767067
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
WAREHOUSE, STORAGE Current
Est. value
$6.0M
INDUSTRIAL (GENERAL)
Est. value
$7.0M
WAREHOUSE, STORAGE Current
INDUSTRIAL (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
1985
Heating
SPACE
Stories
1
Buildings
1
Units
1
Lot
4.39 ac
Current owner
From public records · entity-resolved
Bud Trust
Trust
Mailing address
11 BAYFIELD DR, NORTH ANDOVER, MA 01845-6013
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
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
Jan 30, 2017
—
Bud Trust
—
Deed
related
$2,210,602 · Martha S Gill
Apr 24, 1998
—
Bud RT
—
Deed Of Trust
related
$725,000 · Citizens Bank Of Ma
Sep 19, 1994
—
Bud RT
—
Deed Of Trust
related
$310,000 · Shawmut Bank Of Boston
Nov 4, 1988
—
Bud Rlty Tr
—
Deed Of Trust
related
$650,000 · North Shore Bk&tr Co
—
—
Bud Trust
—
Deed Of Trust
related
$2,210,602 · Martha S Gill
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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