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Property profile & analytics
OFF-MARKET
Estimated value
$13,580,000
Office buildings
2 Tech Dr Andover, MA 01810-2489
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US38-0793080
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1984
Construction
STEEL FRAME
Total area
105,902 SF
Lot
8.09 ac (352,531 SF)
Zoning code
ID
APN
ANDO M:00166 B:00015 L:00000
UPID
US38-0793080
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
-
MKS Instruments Inc Factory Industrial Manufacturer
-
Philips Corporate Office
-
FedEx Drop Box Postal Service Courier Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$12.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$14.84M
Blend (final)
Blend
$13.58M
Owner & transaction history
2 Tech Drive LLC · 6 yrs held
2 Tech Drive LLC
since 2020
Last sale
$12.5M
7 recorded transactions
Zoning & alternative use
ID · 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 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
$16,075,000
ML approach
$12,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$13.58M
Range $12.22M – $14.94M · ±10% · vs last sale $12.50M (Jan 31 2020)
Last sale anchor
$12.50M
Jan 31 2020
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
$128 / 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
$406,322
Tax year 2024
Assessed value
$15,946,700
Assessed 2024
Previous assessed
$13,418,800
+18.8% YoY
Effective rate
2.55%
On assessed value
Assessed land
$4,653,300
Assessed improvement
$11,293,400
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1984
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
6
Total area
105,902 SF
Lot
8.09 ac (352,531 SF)
Zoning code
ID
APN
ANDO M:00166 B:00015 L:00000
UPID
US38-0793080
Jurisdiction
ANDOVER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
ID · Andover, MA
Zoning ID · permitted uses
ID · 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.
Building & site characteristics
From public records
Year built
1984
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
6
Lot
8.09 ac
Current owner
From public records · entity-resolved
2 Tech Drive LLC
Entity
Mailing address
265 FRANKLIN ST STE #1001, BOSTON, MA 02110-3104
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2020
$12,500,000
2 Tech Drive LLC
Ws Nv 2 Andover Tech LLC
Quit Claim Arm's Length For Ne States
$8,125,000 · United Bank
Jun 20, 2016
—
Ws Nv 2 Andover Tech L
—
Deed
related
$40,000,000 · Belmont Savings Bank
Mar 2, 2016
$5,000,000
Ws Nv 2 Andover Tech LLC
Rreef America Reit 3 Corp
Quit Claim Deed
—
Nov 16, 2005
$3,532,187
R Reef America Reit Corp
Bcia Ne Hldgs LLC
Grant Deed
—
Jun 23, 1999
$10,605,207
Bcia New Eng Hldgs LLC
Mgi Andover Corp
Grant Deed
—
Nov 21, 1994
—
Mgi Andover Corp
—
Deed Of Trust
related
$9,000,000 · Allianz Life Insur
Nov 24, 1993
$7,140,000
Mgi Andover Corp
Prudential Insur Co
Grant Deed
—
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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