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Property profile & analytics
OFF-MARKET
Estimated value
$665,000
Office Spaces
203 Tpke St 1, North Andover, MA 01845-5042
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US38-1555435
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1990
Total area
3,192 SF
APN
NAND M:00024 B:00028 L:0001B
UPID
US38-1555435
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
-
Healing Arts of the Andovers Alternative Medicine Practice
-
Andover Pediatrics Medical Clinic
-
3 D Dental PC Dental Office
-
Mami’s General Doctor Association / Organization
-
MICHAEL T. SHANNON, D.M.D. Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$625k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$717k
Blend (final)
Blend
$665k
Owner & transaction history
203 Turnpike G1 LLC · 3 yrs held
203 Turnpike G1 LLC
since 2022
Last sale
$540,000
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$860,000
+20.5%
Auto repair, garage
$765,000
+7.1%
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 North Andover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North 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
$675,000
ML approach
$625,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$715,000
Current use
COMMERCIAL (GENERAL)
$860,000
Change: +20% · Conversion: Easy
AUTO REPAIR, GARAGE
$765,000
Change: +7% · Conversion: Difficult
RETAIL STORES
$710,000
Change: -1% · Conversion: Moderate
Blend value · Realmo final
$665k
Range $599k – $732k · ±10% · vs last sale $540k (Aug 24 2022)
Last sale anchor
$540k
Aug 24 2022
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
$208 / 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
$8,103
Tax year 2024
Assessed value
$519,400
Assessed 2024
Previous assessed
$519,400
+0.0% YoY
Effective rate
1.56%
On assessed value
Assessed improvement
$519,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1990
Heating
FORCED AIR
Cooling
YES
Buildings
1
Total area
3,192 SF
APN
NAND M:00024 B:00028 L:0001B
UPID
US38-1555435
Jurisdiction
NORTH ANDOVER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$715,000
COMMERCIAL (GENERAL)
Est. value
$860,000
AUTO REPAIR, GARAGE
Est. value
$765,000
RETAIL STORES
Est. value
$710,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
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
1990
Heating
FORCED AIR
Cooling
Yes
Buildings
1
Current owner
From public records · entity-resolved
203 Turnpike G1 LLC
Entity
Mailing address
203 TPKE ST STE G1, NORTH ANDOVER, MA 01845-5038
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 24, 2022
$540,000
203 Turnpike G1 LLC
Labusa INC
Condominium Deed
$525,000 · Live Oak Banking Company
Aug 15, 2008
$454,670
Nano Prop LLC
Naop LLC
Grant Deed
$540,000 · Northmark Bank
—
—
Labusa INC
—
Deed Of Trust
related
$500,000 · Private Individual
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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