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Property profile & analytics
OFF-MARKET
Estimated value
$2,245,000
Office buildings
12 Essex St, Andover, MA 01810-3728
Entity Owned
20-yr Hold
Free & Clear
Property ID
US38-0102263
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1806
Total area
9,982 SF
Lot
0.37 ac (16,204 SF)
Zoning code
GB
APN
ANDO M:00055 B:00052 L:00000
UPID
US38-0102263
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
-
George Mouzakis, MSW Physician
-
Donna Graham Physician Medical Clinic
-
Edward Jones - Financial Advisor: Dean Ebbert Financial Advisor
-
Dr. Shana Perrucci Physician Medical Clinic
-
David Farnsworth, PsyD Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.29M
Blend (final)
Blend
$2.25M
Owner & transaction history
Asoian & Tully Rlty LLC · 20 yrs held
Asoian & Tully Rlty LLC
since 2006
4 recorded transactions
Zoning & alternative use
GB · Andover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.4M
+36.1%
Apartment house (5+ units)
$3.2M
+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
$2,530,000
Current use
RESTAURANT
$3,445,000
Change: +36% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$3,190,000
Change: +26% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,390,000
Change: -6% · Conversion: Difficult
RETAIL STORES
$2,220,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$2.25M
Range $2.02M – $2.47M · ±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
$225 / 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
$42,022
Tax year 2024
Assessed value
$1,649,200
Assessed 2024
Previous assessed
$1,502,100
+9.8% YoY
Effective rate
2.55%
On assessed value
Assessed land
$325,400
Assessed improvement
$1,323,800
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
Off-Market
Year built
1806
Heating
ELECTRIC
Buildings
1
Stories
1
Units
5
Rooms
20
Bathrooms
10
Total area
9,982 SF
Lot
0.37 ac (16,204 SF)
Zoning code
GB
APN
ANDO M:00055 B:00052 L:00000
UPID
US38-0102263
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
OFFICE BUILDING Current
Est. value
$2.5M
RESTAURANT
Est. value
$3.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$2.4M
RETAIL STORES
Est. value
$2.2M
OFFICE BUILDING Current
RESTAURANT
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
1806
Heating
ELECTRIC
Stories
1
Buildings
1
Units
5
Rooms
20
Bathrooms
10
Lot
0.37 ac
Current owner
From public records · entity-resolved
Asoian & Tully Rlty LLC
Entity
Free & Clear · 20 yrs held
Mailing address
15 IVANA DR, ANDOVER, MA 01810-2812
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 17, 2021
—
Asoian&tully Realty LLC
—
Deed
related
$650,000 · Institution For Savings Newburyport
Nov 2, 2016
—
Asoian&tully Realty Ll
—
Deed
related
$75,000 · Inst Svgs Newburyport
Jan 19, 2006
$1
Asoian & Tully Rlty LLC
Asoian,richard G
Grant Deed
related
—
Apr 9, 1996
—
Atm Realty Corp
—
Deed Of Trust
related
$769,011 · Somerset RT
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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