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Property profile & analytics
FOR LEASE
Life science properties
200 Bulfinch Dr, Andover, MA 01810
Entity Owned
10-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US38-0175322
For Lease
1 / 2
$1,510,000
200 Bulfinch Dr, Andover, MA 01810
View Listing →
Property profile
Verified
Property type
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Year built
1984
Construction
STEEL FRAME
Total area
80,736 SF
Lot
13.62 ac (593,287 SF)
Zoning code
IA
APN
ANDO M:00126 B:00011 L:00000
UPID
US38-0175322
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
-
embecta Research And Product Development
-
Malden Air Duct Big Box & Wholesale Store
-
Boott Hydropower Inc Electric Utility Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.10M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.93M
Blend (final)
Blend
$1.51M
Owner & transaction history
Ws Nv 200 Bulfinch Dr LLC · 10 yrs held
Ws Nv 200 Bulfinch Dr LLC
since 2016
7 recorded transactions
Zoning & alternative use
IA · 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
by Request
ML approach
$1,095,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL
$1,510,000
Current use
Blend value · Realmo final
$1.51M
Range $1.36M – $1.66M · ±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
$19 / 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
$306,112
Tax year 2024
Assessed value
$12,013,800
Assessed 2024
Previous assessed
$10,674,600
+12.5% YoY
Effective rate
2.55%
On assessed value
Assessed land
$2,843,100
Assessed improvement
$9,170,700
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
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Status
For Lease
Year built
1984
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
4
Bathrooms
12
Total area
80,736 SF
Lot
13.62 ac (593,287 SF)
Zoning code
IA
APN
ANDO M:00126 B:00011 L:00000
UPID
US38-0175322
Jurisdiction
ANDOVER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
IA · Andover, MA
Zoning IA · permitted uses
IA · 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
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL Current
Est. value
$1.5M
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL Current
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
1984
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
4
Bathrooms
12
Lot
13.62 ac
Current owner
From public records · entity-resolved
Ws Nv 200 Bulfinch Dr LLC
Entity
Mailing address
205 NEWBURY ST, FRAMINGHAM, MA 01701-4581
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2017
—
Atlantic Philadelpha R
—
Deed
related
$4,200,000 · Middlesex Savings Bank
Jun 20, 2016
—
Ws Nv 200 Bulfinch Dr
—
Deed
related
$40,000,000 · Belmont Savings Bank
Mar 2, 2016
$6,000,000
Ws Nv 200 Bulfinch Dr LLC
Rreef America Reit 3-z1
Quit Claim Deed
—
Mar 1, 2006
—
Rreef America Reit 3 LLC
—
Deed Of Trust
related
$395,000,000 · Worth Funding INC
Nov 16, 2005
$681,765
Rreef America Reit Corp
Bcia Ne Holdings LLC
Grant Deed
—
Apr 3, 2001
—
Bcia Ne Holdings LLC
—
Deed Of Trust
related
$395,000,000 · David L Babson & Co
Jun 23, 1999
$5,559,181
Bcia New Eng Hldgs LLC
Mgi Riverside Dr INC
Grant Deed
$335,800,000 · Cmf Capital Co
Jun 23, 1999
$559,181
Bcia Ne Holdings LLC
Mgi Bulfinch Dr INC
Grant Deed
related
$75,000 · Irwin Union Bank & Trust Co
May 21, 1997
$4,485,000
Mgi Bulfinch Drive INC
Andover Bus Pk Asc LP
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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