Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1171 Tpke St North Andover, MA 01845-6111
    Back to Search
    Property profile & analytics

    1171 Tpke St North Andover, MA 01845-6111

    View on Map
    • Warehouses
    • 66,000 SF
    • 3.05 lot acres
    Off-Market
    Property ID
    US38-0432797
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $7,165,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Life Storage / Storage Facility

    Property Details for 1171 Tpke St

    Year built
    1988
    Lot size
    3.05 lot acres
    Property size
    66,000 SF
    Zone code
    I2
    Property type
    Warehouses
    APN
    NAND M:00107 B:C0105 L:00000
    APU
    NANDM00107BC0105L00000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $9,280,000
      Current use
      INDUSTRIAL (GENERAL)
      $10,805,000
      Change: +16% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    North Andover
    County
    Essex
    State
    Massachusetts
    Longitude
    -71.0951
    Latitude
    42.6502
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $96,372
    $709,600
    $5,468,100
    $6,177,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,090,000
      10,848 SF

      87 Belmont St

      WAREHOUSE, STORAGE • 10,848 SF
      87 Belmont St, North Andover, MA 01845-2343
      View Details
    • Value Estimation
      $2,220,000
      20,838 SF

      1429 Osgood St

      WAREHOUSE, STORAGE • 20,838 SF
      1429 Osgood St, North Andover, MA 01845-1012
      View Details
    • Value Estimation
      $2,975,000
      30,520 SF

      2350 Tpke St

      WAREHOUSE, STORAGE • 30,520 SF
      2350 Tpke St, North Andover, MA 01845-6347
      View Details
    • Value Estimation
      $6,185,000
      50,094 SF

      1701 Osgood St

      WAREHOUSE, STORAGE • 50,094 SF
      1701 Osgood St, North Andover, MA 01845-1021
      View Details
    • Value Estimation
      $4,315,000
      42,459 SF

      11 Bayfield Dr

      WAREHOUSE, STORAGE • 42,459 SF
      11 Bayfield Dr, North Andover, MA 01845-6013
      View Details
    • Value Estimation
      $1,985,000
      17,536 SF

      15 Charles St

      WAREHOUSE, STORAGE • 17,536 SF
      15 Charles St, North Andover, MA 01845-1648
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      30,000 SF

      Mixed-Use Building on 3.5 Acres

      Multi-tenanted 30,000 SF building on Route 114.
      2302 Turnpike St, North Andover, MA 01845
      View Details
    • Contact for pricing
      4,000 SF

      Industrial Flex Bays For Sale

      High-quality industrial flex bays suitable for manufacturing and shipping.
      2302 Turnpike St, North Andover, MA 01845
      View Details
    • Contact for pricing

      Industrial Flex Bays For Sale

      Secure industrial flex bays with high garage door and radiant heat.
      2302 Turnpike St, North Andover, MA 01845
      View Details
    • $13,000,000

      Multi-Tenanted Building on Route 114

      30,000 SF building on 3.5 acres near major highways.
      2302 Turnpike St, North Andover, MA 01845
      View Details
    • $125,000

      Professional Suite in North Andover

      First-floor, 3-room professional suite with high visibility.
      451 Andover St, North Andover, MA 01845
      View Details
    • Contact for pricing
      1,422 SF

      Professional Office Space Near Highway

      Impressive office space in professional park near major highways.
      231 Sutton St, North Andover, MA 01845
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      48,000 SF

      North Andover Warehouse Space Available

      48,000 sq ft warehouse space for lease.
      30 Massachusetts Ave, North Andover, MA 01845
      View Details
    • $2,000 /Mo

      Secure Industrial Bays For Rent

      Industrial bays with 14' high doors and radiant heat.
      2302 Turnpike St, North Andover, MA 01845
      View Details
    • Sponsored
      Contact for pricing

      MA, North Andover - Osgood Street

      Workspaces, services and support to help you work better in MA, North Andover - Osgood Street
      1274 Osgood St, North Andover, MA 01845
      View Details
    • Contact for pricing
      22,331 SF

      North Andover Flex/Industrial Space

      Flex/industrial space available for lease in North Andover, MA.
      50 High St, North Andover, MA 01845
      View Details
    • Contact for pricing
      20,000 SF

      North Andover Flex/Industrial Space

      Flex/industrial space available for lease in North Andover, MA.
      300 Willow St, North Andover, MA 01845
      View Details
    • Contact for pricing
      10,300 SF

      Flex R&D Space Available

      Flex R&D space available for sublease in North Andover.
      1-86 High St, North Andover, MA 01845
      View Details

    Property Visit Statistics

    • Visits by month
      0
    • Visitors by month
      250
    • Avg Time on site
      64 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1171 Tpke St
    North Andover, MA 01845-6111
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1171 Tpke St, North Andover, MA, 01845
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!