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Property profile & analytics
FOR LEASE
Office buildings
21 Central St Andover, MA 01810
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US38-0227528
For Lease
1 / 10
$32.61 SF/Yr
21 Central St, Andover, MA 01810
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1795
Construction
FRAME
Total area
7,279 SF
Lot
0.6 ac (26,005 SF)
Zoning code
GB
APN
ANDO M:00055 B:00047 L:00000
UPID
US38-0227528
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
$2.24M
Blend (final)
Blend
$1.98M
Owner & transaction history
Cr Stern Realty LLC · 11 yrs held
Cr Stern Realty LLC
since 2015
7 recorded transactions
Zoning & alternative use
GB · Andover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.5M
+36.1%
Apartment house (5+ units)
$2.3M
+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
$1,845,000
Current use
RESTAURANT
$2,510,000
Change: +36% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$2,325,000
Change: +26% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,745,000
Change: -6% · Conversion: Difficult
RETAIL STORES
$1,620,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$1.98M
Range $1.78M – $2.17M · ±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
$271 / 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
$50,191
Tax year 2024
Assessed value
$1,969,800
Assessed 2024
Previous assessed
$1,792,700
+9.9% YoY
Effective rate
2.55%
On assessed value
Assessed land
$723,200
Assessed improvement
$1,246,600
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
For Lease
Year built
1795
Construction
FRAME
Heating
HOT WATER
Buildings
1
Stories
1
Units
1
Bathrooms
4
Total area
7,279 SF
Lot
0.6 ac (26,005 SF)
Zoning code
GB
APN
ANDO M:00055 B:00047 L:00000
UPID
US38-0227528
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
$1.8M
RESTAURANT
Est. value
$2.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$1.7M
RETAIL STORES
Est. value
$1.6M
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
1795
Construction
FRAME
Heating
HOT WATER
Stories
1
Buildings
1
Units
1
Bathrooms
4
Lot
0.6 ac
Current owner
From public records · entity-resolved
Cr Stern Realty LLC
Entity
Mailing address
23 CENTRAL ST, ANDOVER, MA 01810-3703
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
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 16, 2015
$1,550,000
Cr Stern Realty LLC
Olde Center Ventures I
Quit Claim Arm's Length For Ne States
$1,240,000 · Lowell Five Cents Savings Bank
Dec 31, 2014
$250,000
Olde Center Ventures INC
Add 2 LLC
Foreclosure
related
—
Aug 6, 2009
—
Thomas Esselman
—
Deed Of Trust
related
$200,000 · Add 2 LLC
Mar 17, 2008
—
Add 2 LLC
—
Deed Of Trust
related
$3,200,000 · Dorothy Sajous
Sep 27, 2006
—
Add 2 LLC
—
Deed Of Trust
related
$1,025,000 · Olde Center Ventures
May 19, 2006
—
Add 2 LLC
—
Deed Of Trust
related
$1,500,000 · Southern Nh Bank & Trust
Apr 10, 2006
—
Add 2 LLC
—
Deed Of Trust
related
$568,200 · Olde Center Ventures
Dec 9, 2005
—
Add 2 LLC
—
Deed Of Trust
related
$454,550 · Don Guido RT
Jul 19, 2000
$850,000
Anthony D Dinapoli
Jonathan Swift Hse T
Grant Deed
$765,000 · Lawrence Savings Bank
Dec 22, 1988
—
Jon Swift Preservation
—
Deed Of Trust
related
$700,000 · Baybank Merrimack Vly
Jun 5, 1987
—
Jonathan Swift Hse Pre
—
Deed Of Trust
related
$335,000 · Shawmut Arlington Tr
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.
Try Rey
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