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    Property profile & analytics

    18 Elm St Andover, MA 01810-3633

    • Turn key restaurants
    • 5,828 SF
    • 0.33 lot acres
    OFF-MARKET
    Value Estimation
    $2,540,000
    Last Sale
    Apr 15, 2021
    $2,150,000
    Location Intelligence
    Property ID
    US38-0531000
    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

    • Palmers Restaurant & Tavern / American Restaurant / Live Music Venue

    Property Details for 18 Elm St

    Year built
    1820
    Construction
    FRAME
    Lot size
    0.33 lot acres
    Property size
    5,828 SF
    Zone code
    GB
    Property type
    Turn key restaurants
    APN
    ANDO M:00038 B:00118 L:00000
    APU
    ANDOM00038B00118L00000

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $2,725,000

    • CAP approach

      CAP return
      Estimation
      6%
      $2,035,000
      6.5%
      $2,185,000
      7%
      $1,885,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $2,175,000
      Geo Method
      $2,270,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $2,255,000
      Retail
      $1,870,000
      Mixed-Use
      $2,250,000
      Hospitality
      $1,770,000
      Educational
      $2,195,000
      Residential Income
      $1,805,000
      Energy
      $2,065,000
      Income-Based Land
      $2,380,000
      Food Service
      $1,750,000

    Location Insight

    • Map
    • Local Demand
    City
    Andover
    County
    Essex
    State
    Massachusetts
    Longitude
    -71.1404
    Latitude
    42.6581
    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
    $31,045
    $523,700
    $694,700
    $1,218,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      18,668 SF

      131st Riv Rd

      RESTAURANT • 18,668 SF
      131st Riv Rd, Andover, MA 01810-1005
      View Details
    • Value Estimation
      $440,000
      2,250 SF

      11 Bartlet St

      RESTAURANT • 2,250 SF
      11 Bartlet St, Andover, MA 01810-3655
      View Details
    • Value Estimation
      $290,000
      1,000 SF

      17 Railroad St

      RESTAURANT • 1,000 SF
      17 Railroad St, Andover, MA 01810-3516
      View Details
    • Value Estimation by Request
      9,235 SF

      207 Main St

      RESTAURANT • 9,235 SF
      207 Main St, Andover, MA 01810-3109
      View Details
    • Value Estimation by Request
      6,323 SF

      560 Main St

      RESTAURANT • 6,323 SF
      560 Main St, Andover, MA 01810-6261
      View Details
    • Value Estimation
      $400,000
      5,353 SF

      19 Essex St

      RESTAURANT • 5,353 SF
      19 Essex St, Andover, MA 01810-3748
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $25 SF/Yr

      Downtown Andover Retail/Restaurant Space

      Retail and restaurant space in downtown Andover with parking.
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    • $20 SF/Yr
      41,824 SF

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    • Contact for pricing
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      Retail Space in Andover Plaza

      Retail space available in a busy Andover shopping center.
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    • Contact for pricing
      2,964 SF

      Retail Space in Andover, MA

      Retail space available for lease in Andover, Massachusetts.
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      View Details
    • $35 SF/Yr

      Downtown Andover Commercial Space

      Renovated 2,200 SF space in the heart of Andover.
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    • $29 SF/Yr
      4,000 SF

      Prime Retail Space in Andover

      Former bank location with high visibility signage on Main Street.
      211 North Main St, Andover, MA 01810
      View Details
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    18 Elm St
    Andover, MA 01810-3633
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    Realmo Value Estimation

    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.

    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.

    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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