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Property profile & analytics
OFF-MARKET
Estimated value
$1,765,000
Commercial real estate
159 Riv Rd 4, Andover, MA 01810-1014
Entity Owned
Absentee Owner
Free & Clear
Property ID
US38-2175754
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Year built
2020
Construction
STEEL FRAME
Total area
5,530 SF
Zoning code
ID2
APN
ANDO M:00166 B:00011 L:00004
UPID
US38-2175754
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
-
Andiamo Restaurant Bar + Cafe Restaurant
-
Boston Vision Eye Care Center Ophthalmology Clinic
-
John J. Lee, MD Ophthalmologist
-
Emily Nangle Physician
-
Stephanie Dunker Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.73M
Comparable Approach
Comparable
$1.75M
Blend (final)
Blend
$1.77M
Owner & transaction history
ANDOVER VISION LLC
ANDOVER VISION LLC
Zoning & alternative use
ID2 · Andover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.9M
+73.2%
Apartment house (5+ units)
$1.8M
+60.4%
Office building
$1.4M
+27.2%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,865,000
6.5%
$1,725,000
7%
$1,600,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,100,000
Current use
RESTAURANT
$1,910,000
Change: +73% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,770,000
Change: +60% · Conversion: Moderate
OFFICE BUILDING
$1,400,000
Change: +27% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,325,000
Change: +20% · Conversion: Difficult
RETAIL STORES
$1,230,000
Change: +12% · Conversion: Easy
Blend value · Realmo final
$1.77M
Range $1.59M – $1.94M · ±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
$319 / 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
$67,588
Tax year 2024
Assessed value
$2,652,600
Assessed 2024
Previous assessed
$1,262,000
+110.2% YoY
Effective rate
2.55%
On assessed value
Assessed improvement
$2,652,600
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
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Status
Off-Market
Year built
2020
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Total area
5,530 SF
Zoning code
ID2
APN
ANDO M:00166 B:00011 L:00004
UPID
US38-2175754
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.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.1M
RESTAURANT
Est. value
$1.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.3M
RETAIL STORES
Est. value
$1.2M
COMMERCIAL (GENERAL) Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
2020
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Current owner
From public records · entity-resolved
ANDOVER VISION LLC
Entity
Free & Clear · 0 yrs held
Mailing address
24 WEBSTER PL, BROOKLINE, MA 02445-7937
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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