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Property profile & analytics
OFF-MARKET
Estimated value
$2,015,000
Office buildings
20 Essex St Andover, MA 01810
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US38-0101550
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1900
Construction
FRAME
Total area
9,015 SF
Lot
0.35 ac (15,377 SF)
Zoning code
GB
APN
ANDO M:00055 B:00053 L:00000
UPID
US38-0101550
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.03M
Blend (final)
Blend
$2.02M
Owner & transaction history
26 Essex Street Owner LLC · 11 yrs held
26 Essex Street Owner LLC
since 2015
7 recorded transactions
Zoning & alternative use
GB · Andover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.1M
+36.1%
Apartment house (5+ units)
$2.9M
+26.1%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,285,000
Current use
RESTAURANT
$3,110,000
Change: +36% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$2,880,000
Change: +26% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,160,000
Change: -6% · Conversion: Difficult
RETAIL STORES
$2,005,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$2.02M
Range $1.81M – $2.22M · ±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
$224 / 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
$37,191
Tax year 2024
Assessed value
$1,459,600
Assessed 2024
Previous assessed
$1,329,000
+9.8% YoY
Effective rate
2.55%
On assessed value
Assessed land
$393,900
Assessed improvement
$1,065,700
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
1900
Construction
FRAME
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
1
Units
4
Bathrooms
2
Total area
9,015 SF
Lot
0.35 ac (15,377 SF)
Zoning code
GB
APN
ANDO M:00055 B:00053 L:00000
UPID
US38-0101550
Jurisdiction
ANDOVER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
GB · Andover, MA
Zoning GB · permitted uses
GB · 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
OFFICE BUILDING Current
Est. value
$2.3M
RESTAURANT
Est. value
$3.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.9M
AUTO REPAIR, GARAGE
Est. value
$2.2M
RETAIL STORES
Est. value
$2.0M
OFFICE BUILDING Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
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
1900
Construction
FRAME
Heating
HOT WATER
Cooling
Yes
Stories
1
Buildings
1
Units
4
Bathrooms
2
Lot
0.35 ac
Current owner
From public records · entity-resolved
26 Essex Street Owner LLC
Entity
Mailing address
PO BOX 519, ANDOVER, MA 01810-0009
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2022
—
26 Essex Street Owner LLC
—
Deed
related
$1,428,000 · Institution For Savings Newburyport
Mar 25, 2021
—
26 Essex St Owner LLC
—
Deed
related
$1,050,000 · Institution For Savings Newburyport
Jan 31, 2017
—
26 Essex Street Owner LLC
—
Deed
related
$1,145,802 · Bank Of New England
Jan 5, 2015
$212,011
26 Essex Street Owner LLC
26 Essex Street Realty Trust
Quit Claim Deed
—
Nov 20, 2013
$1,049,900
26 Essex Street RT
26 Essex Street T
Quit Claim Arm's Length For Ne States
$879,920 · Bank Of New England NA
Feb 7, 2003
—
26 Essex St. RT
—
Deed Of Trust
related
$249,000 · Northmark Bank
Nov 1, 1991
—
26 Essex St Trust
—
Deed Of Trust
related
$50,000 · Lawrence Savings Bank
—
—
26 Essex Street Owner LLC
—
Deed Of Trust
related
$1,145,802 · Bank Of New England
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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