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Property profile & analytics
FOR LEASE
Office buildings
138 River Rd, Andover, MA 01810
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US38-1767038
For Lease
$3,865,000
138 River Rd, Andover, MA 01810
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1984
Construction
STEEL FRAME
Total area
64,579 SF
Lot
5.13 ac (223,463 SF)
Zoning code
ID2
APN
ANDO M:00165 B:00001 L:0000B
UPID
US38-1767038
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
-
YKK AP America Inc Industrial Manufacturer Production Facility
-
Bird Dog Solutions Inc Trucking Company
-
DNA Realty Group Real Estate Agency
-
Boston Partners Financial Group Financial Advisor
-
Ron Carpenito - Prime Property Team - Keller Williams Realty Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.87M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.87M
Owner & transaction history
Heg 138 River Road LLC · 2 yrs held
Heg 138 River Road LLC
since 2024
Last sale
$3.9M
7 recorded transactions
Zoning & alternative use
ID2 · Andover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$3,865,000
ML approach
$3,865,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.87M
Range $3.48M – $4.25M · ±10% · vs last sale $3.86M (Jan 31 2024)
Last sale anchor
$3.86M
Jan 31 2024
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
$60 / 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
$266,778
Tax year 2024
Assessed value
$10,470,100
Assessed 2024
Previous assessed
$8,559,100
+22.3% YoY
Effective rate
2.55%
On assessed value
Assessed land
$3,112,500
Assessed improvement
$7,357,600
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
1984
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
14
Bathrooms
6
Total area
64,579 SF
Lot
5.13 ac (223,463 SF)
Zoning code
ID2
APN
ANDO M:00165 B:00001 L:0000B
UPID
US38-1767038
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.
Building & site characteristics
From public records
Year built
1984
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
14
Bathrooms
6
Lot
5.13 ac
Current owner
From public records · entity-resolved
Heg 138 River Road LLC
Entity
Mailing address
138 RIV RD, ANDOVER, MA 01810-1072
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2024
$3,862,500
Heg 138 River Road LLC
Are-ma Region No 97 Hldg
Quit Claim Arm's Length For Ne States
$4,000,000 · Kenneth H Black Tr
Jan 12, 2022
$14,285,000
Are Ma Region No 97 Hldg
Whetstone 138 Minuteman
Quit Claim Arm's Length For Ne States
$154,000,000 · Are Ma Region No 97 L
Oct 26, 2017
—
Whetstone 138 Minuteman
138 Minuteman Park LLC
Quit Claim Deed
related
$118,000,000 · Bank Of America
Sep 3, 2015
$500,000
Minuteman Park Greenery
Minuteman Greenery LLC
Quit Claim Deed
—
Sep 3, 2015
$6,034,495
138 Minuteman Park LLC
138 Minuteman LLC
Quit Claim Deed
—
Dec 20, 2012
$8,200,000
138 Minuteman LLC
Meritage Andover Holdings
Grant Deed
—
Dec 28, 2005
$9,700,000
Meritage-ando Holding
Shattuck Off Center Ll
Deed
$7,000,000 · Greenwich Capital Fin
Aug 24, 2001
$9,200,000
Shattuck Office Centrl
Wellsford Whitehall Lc
Grant Deed
$7,100,000 · Fleet National Bank
Jun 12, 1998
$7,400
Wellsford Whitehall Pr
New Boston Shattuck LP
Grant Deed
—
Oct 5, 1993
$3,395,000
Boston Shattuck Lt New
Msrs Andover Property
Grant Deed
—
May 4, 1989
—
Shattuck Office Ctr RT
—
Deed Of Trust
related
$900,000 · Zuckerman Family Nomi
Apr 25, 1988
$1,000,000
Msrs Andover Prop INC
Shattuck Office Ctr
Grant Deed
—
Aug 20, 1987
—
Shattuck Office Ctr RT
—
Deed Of Trust
related
$850,000 · Bankboston Development Co LLC
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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