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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    175 Andover St Danvers, MA 01923-5311

    • Office buildings
    • 28,870 SF
    • 1.65 lot acres
    OFF-MARKET
    Value Estimations
    $7,435,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1229356
    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.

    Current Use by Public Records

    • Joseph Matta - Financial Advisor, Ameriprise Financial Services, LLC / Investment Service / Financial Planner
    • Victoria Johnson - Financial Advisor, Ameriprise Financial Services, LLC / Investment Service / Financial Planner
    • Jeff Arouth - Financial Advisor, Ameriprise Financial Services, LLC / Financial Planner / Investment Service
    • Vincent Panzini - Financial Advisor, Ameriprise Financial Services, LLC / Financial Planner / Investment Service
    • Elizabeth Snow Wilds - Associate Financial Advisor, Ameriprise Financial Services, LLC / Financial Planner / Investment Service

    Property Details for 175 Andover St

    Year built
    1982
    Construction
    STEEL FRAME
    Lot size
    1.65 lot acres
    Property size
    28,870 SF
    Zone code
    HC
    Property type
    Office buildings
    APN
    DANV M:048 L:032 P:
    APU
    DANVM048L032P

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,695,000
      Market price range: $4.70M - $11.4M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Danvers
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.9748
    Latitude
    42.5608
    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
    $53,836
    $1,659,200
    $1,235,200
    $2,894,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $600,000
      1,734 SF

      249 Andover St

      OFFICE BUILDING • 1,734 SF
      249 Andover St, Danvers, MA 01923-1317
      View Details
    • Value Estimation
      $7,160,000
      19,128 SF

      185 Ctr St

      OFFICE BUILDING • 19,128 SF
      185 Ctr St, Danvers, MA 01923-4512
      View Details
    • Value Estimation
      $1,345,000
      2,860 SF

      51 Elliott St

      OFFICE BUILDING • 2,860 SF
      51 Elliott St, Danvers, MA 01923-3435
      View Details
    • Value Estimation
      $27,675,000
      88,724 SF

      55 Ferncroft Rd

      OFFICE BUILDING • 88,724 SF
      55 Ferncroft Rd, Danvers, MA 01923-4068
      View Details
    • Value Estimation by Request
      1,195 SF

      17 Florence St

      OFFICE BUILDING • 1,195 SF
      17 Florence St, Danvers, MA 01923
      View Details
    • Value Estimation
      $640,000
      1,470 SF

      32 Prince St

      OFFICE BUILDING • 1,470 SF
      32 Prince St, Danvers, MA 01923-1447
      View Details

    Similar Nearby for Sale

    • $620,000

      Corner Office Suite For Sale

      Well-designed office suite with abundant natural light and convenient location.
      150 Andover St, Danvers, MA 01923
      View Details
    • $4,300,000

      Danvers Office Property For Sale

      Office property available for purchase in Danvers, Massachusetts.
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    • Contact for pricing
      32,000 SF

      New Construction Flex/Industrial Warehouse

      New construction flex/industrial warehouse totaling approximately 32,000 SF.
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      1 SF

      Danvers Land Site For Sale

      1.15 AC land site near Routes 95 and 1.
      Danvers, MA 01923
      View Details
    • $4,000,000
      10,752 SF

      Danvers Industrial Property

      10,752 SF Flex Space, $4M
      15 Water St, Danvers, MA 01923
      View Details
    • $499,999

      Buildable Land Near Route 114

      Close to an acre of raw land for sale.
      267 Centre St, Danvers, MA 01923
      View Details

    Similar Nearby for Lease

    • $23 SF/Yr
      18,838 SF

      Danvers Boutique Office Space Available

      Up to 22,000 SF available near Interstate 95.
      99 Conifer Hill Dr, Danvers, MA 01923
      View Details
    • $18 SF/Yr
      2,261 SF

      Corporate Campus Office Space

      Office space in a corporate campus setting, accessible location.
      300 Rosewood Dr, Danvers, MA 01923
      View Details
    • New
      $3,500 /Mo
      1,963 SF

      Danvers Commercial Garage Condo

      2,000 SF commercial garage condo near Route 1 and I-95.
      100 Ferncroft Rd, Danvers, MA 01923
      View Details
    • $5,250 /Mo

      Renovated Commercial Space for Lease

      Renovated commercial space with multiple uses, garage, and parking.
      1 Cheever St, Danvers, MA 01923
      View Details
    • $18 SF/Yr
      3,080 SF

      Danvers Office Space For Rent

      Office space in a corporate campus with fitness center.
      99 Rosewood Dr, Danvers, MA 01923
      View Details
    • Contact for pricing
      5,530 SF

      Danvers Office Space Sublease

      Office space with amenities and ample parking available for sublease.
      222 Rosewood Dr, Danvers, MA 01923
      View Details
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    175 Andover St
    Danvers, MA 01923-5311
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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