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Property profile & analytics
OFF-MARKET
Estimated value
$1,390,000
Banks
23 Main St Andover, MA 01810-3742
Entity Owned
27-yr Hold
~
Est. High Equity
Property ID
US38-1163896
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1865
Total area
29,600 SF
Lot
0.6 ac (26,180 SF)
Zoning code
GB
APN
ANDO M:00055 B:00098 L:00000
UPID
US38-1163896
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
-
Fraser Law Office LLC Law Firm
-
Barnard Block Tour Operator
-
William H. DiAdamo LLC Law Firm
-
A & A Courier Courier Service Postal Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.39M
Owner & transaction history
23 Main Street LLC · 27 yrs held
23 Main Street LLC
since 1998
7 recorded transactions
Zoning & alternative use
GB · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$47 / 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
$111,636
Tax year 2024
Assessed value
$4,381,300
Assessed 2024
Previous assessed
$4,030,400
+8.7% YoY
Effective rate
2.55%
On assessed value
Assessed land
$857,000
Assessed improvement
$3,524,300
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1865
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
4
Units
6
Bathrooms
8
Total area
29,600 SF
Lot
0.6 ac (26,180 SF)
Zoning code
GB
APN
ANDO M:00055 B:00098 L:00000
UPID
US38-1163896
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.
Building & site characteristics
From public records
Year built
1865
Heating
FORCED AIR
Cooling
Yes
Stories
4
Buildings
1
Units
6
Bathrooms
8
Lot
0.6 ac
Current owner
From public records · entity-resolved
23 Main Street LLC
Entity
Mailing address
100 GALLOUPES PT RD, SWAMPSCOTT, MA 01907-2739
Ownership since
1998
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
Jun 10, 2025
—
23 Main Street LLC
—
Deed
related
$2,700,000 · Lowell Five Cents Savings Bank
Dec 10, 2024
—
23 Main Street LLC
—
Deed
related
$250,000 · Lowell Five Cents Savings Bank
Feb 3, 2021
—
23 Main St LLC
—
Deed
related
$12,375,000 · Lowell Five Cents Savings Bank
May 6, 2020
—
23 Main Street LLC
—
Deed
related
$8,500,000 · Lowell Five Cents Savings Bank
Dec 11, 2008
—
23 Main Street LLC
—
Deed Of Trust
related
$550,000 · East Boston Savings Bank
Dec 16, 2004
—
23 Main St LLC
—
Deed Of Trust
related
$2,000,000 · Gary Needham
Mar 15, 2002
—
23 Main Street LLC
—
Deed Of Trust
related
$1,652,300 · First Essex Bank
Sep 10, 1999
—
23 Main St LLC
—
Deed Of Trust
related
$500,000 · First Essex Savings Bank
Sep 1, 1998
$2,110,000
23 Main Street LLC
Bankboston NA
Grant Deed
$2,049,000 · First Essex Savings Bank
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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