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Property profile & analytics
OFF-MARKET
Estimated value
$4,685,000
Manufacturing properties
165 Flagship Dr, North Andover, MA 01845-6119
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US38-1773589
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1992
Total area
35,708 SF
Lot
5 ac (217,800 SF)
Zoning code
I
APN
NAND M:00025 B:00085 L:00000
UPID
US38-1773589
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
-
Legends Gymnastics Gym & Fitness Center
-
United Plastic Fabricating, Inc. Factory Production Facility
-
Custom Plastic Fabrications, LLC Factory Production Facility
-
Tideman Marine (Bike/Boat/Book/etc) Store Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.90M
CAP Approach
CAP
$5.85M
Comparable Approach
Comparable
$6.41M
Blend (final)
Blend
$4.69M
Owner & transaction history
165 Flagship LLC · 3 yrs held
165 Flagship LLC
since 2023
Last sale
$4.7M
7 recorded transactions
Zoning & alternative use
I · 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
$4,550,000
ML approach
$4,895,000
CAP Approach
CAP Return
Estimation
6%
$6,330,000
6.5%
$5,845,000
7%
$5,425,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$5,845,000
Current use
WAREHOUSE, STORAGE
$5,020,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$4.69M
Range $4.22M – $5.15M · ±10% · vs last sale $4.65M (Feb 10 2023)
Last sale anchor
$4.65M
Feb 10 2023
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
$131 / 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
$71,256
Tax year 2024
Assessed value
$4,567,700
Assessed 2024
Previous assessed
$4,567,700
+0.0% YoY
Effective rate
1.56%
On assessed value
Assessed land
$1,069,400
Assessed improvement
$3,498,300
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
1992
Heating
GAS
Cooling
YES
Buildings
1
Stories
2
Units
1
Total area
35,708 SF
Lot
5 ac (217,800 SF)
Zoning code
I
APN
NAND M:00025 B:00085 L:00000
UPID
US38-1773589
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
$5.8M
WAREHOUSE, STORAGE
Est. value
$5.0M
INDUSTRIAL (GENERAL) Current
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
1992
Heating
GAS
Cooling
Yes
Stories
2
Buildings
1
Units
1
Lot
5 ac
Current owner
From public records · entity-resolved
165 Flagship LLC
Entity
Mailing address
165 FLAGSHIP DR, NORTH ANDOVER, MA 01845-6119
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 10, 2023
$4,650,000
165 Flagship LLC
United RT
Quit Claim Arm's Length For Ne States
$3,012,500 · Needham Bank
Feb 10, 2023
—
165 Flagship LLC
—
Deed
related
$2,465,000 · Granite State Economic Development Corp
Oct 31, 2016
—
United RT
—
Deed
related
$880,000 · Century Bank & Trust Co
Aug 27, 2014
—
United RT
—
Grant Deed
related
$1,500,000 · Century Bank & Trust Co
Dec 30, 1999
—
United RT
—
Deed Of Trust
related
$732,970 · Century Bank & Trust Co
Jun 3, 1997
—
United RT
—
Deed Of Trust
related
$779,792 · Citizens Mortgage INC
Feb 26, 1997
$120,000
United RT
Business Park RT
Grant Deed
—
Sep 27, 1996
—
Business Park RT
—
Deed Of Trust
related
$2,200,000 · Andover Bank
Apr 19, 1996
—
Business Park RT
—
Deed Of Trust
related
$50,000 · Charles N Poor
Jul 26, 1995
—
United RT
—
Deed Of Trust
related
$140,000 · First Essex Savings Bank
Dec 10, 1993
—
R T United
—
Deed Of Trust
related
$723,000 · Northeastern Mass Eco
Nov 26, 1993
$1,815,891
R T United
Business Park Realty
Grant Deed
$1,620,000 · First Essex Savings 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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