159 Riv Rd, Unit 3 Andover, MA 01810-1014
Property profile & analytics
159 Riv Rd, Unit 3 Andover, MA 01810-1014
- Commercial real estate
- 4,540 SF
Property ID
US38-0635111
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Andiamo Restaurant Bar + Cafe / Restaurant
- Boston Vision / Eye Care Center / Ophthalmology Clinic
- John J. Lee, MD / Ophthalmologist
- Emily Nangle / Physician
- Stephanie Dunker / Physician
Property Details for 159 Riv Rd
- Year built
- 2020
- Construction
- STEEL FRAME
- Property size
- 4,540 SF
- Zone code
- ID2
- Property type
- Commercial real estate
- APN
- ANDO M:00166 B:00011 L:00003
- APU
- ANDOM00166B00011L00003
Description
This exceptional Class A retail property in Andover, MA, presents a compelling investment opportunity. Located at 159 River Rd, this 4,040 square foot, single-tenant building sits on a 4-acre lot and boasts a 100% occupancy rate with a credit-rated tenant under a NNN lease with 2% annual rent bumps. The lease commenced August 21, 2020, and has a remaining term of approximately 6 years, expiring November 30, 2030, with lease options for 2-5 years. The property features ample parking (50 spaces per 1,000 sq ft) and benefits from a highly visible location at the entrance to both Shattuck and Minuteman Office Parks, near I-93, and within a half-mile of six hotels. The property is zoned GB and was built in 2020. The asking price is $2,700,000, representing a 5.93% cap rate and a price per square foot of $668.32. The property's strong tenant, high visibility, and favorable lease terms make it an attractive investment for those seeking a stable, high-performing asset. The property is offered as a 1031 exchange opportunity. The Net Operating Income (NOI) is $160,199. This is a single-story building with a condo ownership structure. Nearby businesses include The Learning Experience and Boston Vision. The property is an end-cap location with street frontage.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,530,000
- 6.5%
- $1,415,000
- 7%
- $1,315,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,433,000
- AI Estimate
- $1,498,000
Market price range: $517k - $1.43MMarket price range: $473k - $1.50M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $905,000 Current use
- OFFICE BUILDING
- $1,150,000 Change: +27% Conversion: Easy
- AUTO REPAIR, GARAGE
- $1,090,000 Change: +20% Conversion: Difficult
- RETAIL STORES
- $1,010,000 Change: +12% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Andover
- County
- Essex
- State
- Massachusetts
- Longitude
- -71.2144
- Latitude
- 42.6894
- CBSA code
- 14460
- CBSA name
- BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$39,843
$0.00
$1,563,700
$1,563,700
-
$0.00
$0.00
$0.00
