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Property profile & analytics
FOR SALE
Office buildings
1538 Turnpike St, North Andover, MA 01845
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US38-0545888
For Sale
1 / 24
$3,500,000
1538 Turnpike St, North Andover, MA 01845
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Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1986
Total area
20,238 SF
Lot
1 ac (43,560 SF)
Zoning code
VR
APN
NAND M:00107 B:B0005 L:00000
UPID
US38-0545888
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
-
Merrimack Insurance Insurance Agency
-
North Andover Dental Associates Dental Office
-
Apex Lending Loan Service Bank
-
Dr. Kenneth J. Murphy, DMD Dental Office
-
Onsite Dental Care Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.95M
Blend (final)
Blend
$2.37M
Owner & transaction history
1538 Turnpike LLC · 11 yrs held
1538 Turnpike LLC
since 2014
7 recorded transactions
Zoning & alternative use
VR · North 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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.37M
Range $2.13M – $2.61M · ±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
$117 / 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
$25,868
Tax year 2024
Assessed value
$1,658,200
Assessed 2024
Previous assessed
$1,658,200
+0.0% YoY
Effective rate
1.56%
On assessed value
Assessed land
$348,500
Assessed improvement
$1,309,700
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
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1986
Heating
HEAT PUMP
Buildings
1
Stories
4
Total area
20,238 SF
Lot
1 ac (43,560 SF)
Zoning code
VR
APN
NAND M:00107 B:B0005 L:00000
UPID
US38-0545888
Jurisdiction
NORTH ANDOVER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
VR · North Andover, MA
Zoning VR · permitted uses
VR · 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.
Building & site characteristics
From public records
Year built
1986
Heating
HEAT PUMP
Stories
4
Buildings
1
Lot
1 ac
Current owner
From public records · entity-resolved
1538 Turnpike LLC
Entity
Mailing address
119 WESTERN AVE, GLOUCESTER, MA 01930-4042
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 3, 2014
—
1538 Turnpike LLC
Antonio Delauri
Quit Claim Deed
related
$920,000 · North Shore Bank
Oct 2, 2014
$1,150,000
Antonio Delauri
114 Executive Park RT
Quit Claim Arm's Length For Ne States
$920,000 · North Shore Bank
Jul 10, 2008
—
Park RT 114 Executive
—
Deed Of Trust
related
$180,000 · Northmark Bank
Jul 13, 2001
$3,000,000
Sushila G Lulla
114 Trust
Grant Deed
—
Sep 27, 1996
—
Park RT 114 Executive
—
Deed Of Trust
related
$550,000 · Northmark Bank
Jun 29, 1994
—
Pk RT 114 Executive
—
Deed Of Trust
related
$260,000 · Gary Needham
Aug 20, 1992
$400,000
Park RT 114 Executive
Dbt Corp
Grant Deed
$360,000 · Gary Needham
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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