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Property profile & analytics
OFF-MARKET
Estimated value
$17,215,000
Assisted living facilities
140 Prescott St North Andover, MA 01845-1826
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US38-0860392
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1977
Total area
56,884 SF
Lot
5.08 ac (221,285 SF)
Zoning code
R4
APN
NAND M:00092 B:00008 L:00000
UPID
US38-0860392
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
-
Meghan M. Armstrong, DPT Physician
-
Sheila R. Despres, PT Physician
-
Prescott House Nursing Home
-
Sylvia Despres Physician
-
Ricardo Diaz Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$17.22M
Owner & transaction history
P Prescott Prop LLC · 3 yrs held
P Prescott Prop LLC
since 2022
Last sale
$16.6M
6 recorded transactions
Zoning & alternative use
R4 · North Andover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$15.7M
+419.0%
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
$18,525,000
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
$15,690,000
Change: +419% · Conversion: Difficult
Blend value · Realmo final
$17.22M
Range $15.49M – $18.94M · ±10% · vs last sale $16.56M (Nov 22 2022)
Last sale anchor
$16.56M
Nov 22 2022
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
$303 / 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
$136,812
Tax year 2024
Assessed value
$8,770,000
Assessed 2024
Previous assessed
$8,770,000
+0.0% YoY
Effective rate
1.56%
On assessed value
Assessed land
$2,434,100
Assessed improvement
$6,335,900
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1977
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
126
Rooms
126
Total area
56,884 SF
Lot
5.08 ac (221,285 SF)
Zoning code
R4
APN
NAND M:00092 B:00008 L:00000
UPID
US38-0860392
Jurisdiction
NORTH ANDOVER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
R4 · North Andover, MA
Zoning R4 · permitted uses
R4 · 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
OFFICE BUILDING
Est. value
$15.7M
OFFICE BUILDING
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
1977
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
126
Rooms
126
Lot
5.08 ac
Current owner
From public records · entity-resolved
P Prescott Prop LLC
Entity
Mailing address
391 OAK AVE, CEDARHURST, NY 11516-1810
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 22, 2022
$16,561,898
P Prescott Prop LLC
Prescott Prop Hldg LLC
Quit Claim Arm's Length For Ne States
$31,800,000 · Customers Bank
Sep 21, 2021
$12,500,000
Prescott Prop Hldg LLC
Lg Ohi Prescott LLC
Quit Claim Arm's Length For Ne States
$4,000,000 · Oxford Finance LLC
Nov 7, 2016
$26,641,063
Lg Ohi Prescott LLC
Prescott Nursing Home INC
Quit Claim Deed
$535,000,000 · Morgan Stanley &
Jan 13, 2004
—
Prescott Nursing Home INC
—
Deed Of Trust
related
$260,000,000 · Wachovia Bank NA
Oct 24, 2001
—
Nursing Home Prescott
—
Deed Of Trust
related
$757,605,000 · First Union National Bank
Oct 21, 1997
$11,500,000
Nursing Home Prescott
Selco Service Corp
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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