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Property profile & analytics
OFF-MARKET
Estimated value
$11,515,000
Manufacturing properties
150 Flagship Dr, North Andover, MA 01845-6117
Entity Owned
~
Est. High Equity
Property ID
US38-1849730
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1997
Total area
74,777 SF
Lot
9.74 ac (424,274 SF)
Zoning code
I
APN
NAND M:00025 B:00082 L:00000
UPID
US38-1849730
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
-
Flagship Press Inc Marketing & Advertising Printing Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$11.03M
CAP Approach
CAP
$12.24M
Comparable Approach
Comparable
$11.39M
Blend (final)
Blend
$11.52M
Owner & transaction history
Gki II Boston LLC
Gki II Boston LLC
since 2026
Last sale
$15.4M
7 recorded transactions
Zoning & alternative use
I · North Andover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$17.9M
+46.3%
Office building
$16.7M
+36.7%
Retail stores
$16.6M
+35.8%
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
$11,395,000
ML approach
$11,030,000
CAP Approach
CAP Return
Estimation
6%
$13,255,000
6.5%
$12,235,000
7%
$11,365,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$12,245,000
Current use
AUTO REPAIR, GARAGE
$17,910,000
Change: +46% · Conversion: Easy
OFFICE BUILDING
$16,730,000
Change: +37% · Conversion: Difficult
RETAIL STORES
$16,630,000
Change: +36% · Conversion: Moderate
WAREHOUSE, STORAGE
$10,515,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$11.52M
Range $10.36M – $12.67M · ±10% · vs last sale $15.35M (Jan 15 2026)
Last sale anchor
$15.35M
Jan 15 2026
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
$154 / 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
$126,675
Tax year 2024
Assessed value
$8,120,200
Assessed 2024
Previous assessed
$8,120,200
+0.0% YoY
Effective rate
1.56%
On assessed value
Assessed land
$1,328,200
Assessed improvement
$6,792,000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1997
Heating
GAS
Cooling
YES
Buildings
1
Stories
2
Units
1
Total area
74,777 SF
Lot
9.74 ac (424,274 SF)
Zoning code
I
APN
NAND M:00025 B:00082 L:00000
UPID
US38-1849730
Jurisdiction
NORTH ANDOVER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
I · North Andover, MA
Zoning I · permitted uses
I · 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
INDUSTRIAL (GENERAL) Current
Est. value
$12.2M
AUTO REPAIR, GARAGE
Est. value
$17.9M
OFFICE BUILDING
Est. value
$16.7M
RETAIL STORES
Est. value
$16.6M
WAREHOUSE, STORAGE
Est. value
$10.5M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
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
1997
Heating
GAS
Cooling
Yes
Stories
2
Buildings
1
Units
1
Lot
9.74 ac
Current owner
From public records · entity-resolved
Gki II Boston LLC
Entity
Mailing address
401 EDGEWATER PL STE #265, WAKEFIELD, MA 01880-6241
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 15, 2026
$15,350,000
Gki II Boston LLC
Nbpiii Flagship LLC
Deed
$1 · Bnp Paribas
Jun 13, 2022
—
Nbpiii Flagship LLC
—
Deed
related
$142,500,000 · Wells Fargo Bank NA
Sep 13, 2021
—
Nbp 3 Flagship LLC
—
Deed
related
$95,000,000 · Metlife Real Estate Lending LLC
Jun 17, 2021
—
Npb 3 Flagship LLC
—
Deed
related
$90,000,000 · Key Bank NA
Feb 25, 2021
$8,987,500
Nbpiii Flagship LLC
Flagship LLC
Quit Claim Arm's Length For Ne States
—
May 23, 2018
—
Flagship LLC
—
Deed
related
$750,000 · Enterprise Bank & Trust Co
Apr 6, 2018
—
Flagship LLC
—
Deed
related
$250,000 · Enterprise Bank & Trust Co
Jun 2, 2006
—
Flagship LLC
—
Deed Of Trust
related
$700,000 · Enterprise Bank & Trust
Apr 6, 2005
—
Flagship LLC
—
Deed Of Trust
related
$3,100,000 · Enterprise Bank & Trust
Jun 9, 2004
—
Flagship LLC
—
Deed Of Trust
related
$700,000 · Sovereign Bank
Jul 11, 1997
—
Flagship LLC
—
Deed Of Trust
related
$999,000 · Bay Colony Dev Corp
Mar 24, 1997
$3,000,000
Charles N Poor
Business Park RT
Grant Deed
—
Mar 24, 1997
—
Flagship LLC
—
Deed Of Trust
related
$1,728,750 · Andover Bank
Oct 17, 1995
—
Business Park RT
—
Deed Of Trust
related
$62,978 · Andover Bank
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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