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Property profile & analytics
FOR SALE
Commercial real estate
2302 Turnpike St North Andover, MA 01845
Entity Owned
10-yr Hold
Property ID
US38-0848866
For Sale
1 / 32
$12,500,000
2302 Turnpike St, North Andover, MA 01845
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1950
Construction
CONCRETE
Total area
1,089 SF
Lot
3.52 ac (153,288 SF)
Zoning code
B2
APN
NAND M:00108 B:A0009 L:00000
UPID
US38-0848866
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
-
Ultra Safe Pest Management Garden Center
-
Fafa’s Auto Spa Car Wash
-
The Vinyl Touch Auto Repair Shop
-
Sunny Health Spa Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Gill Family LLC · 10 yrs held
Gill Family LLC
since 2016
6 recorded transactions
Zoning & alternative use
B2 · North 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2020Property tax & assessments
Tax year 2020
Tax billed
$21,739
Tax year 2020
Assessed value
$4,006,800
Assessed 2024
Previous assessed
$4,006,800
+0.0% YoY
Effective rate
0.54%
On assessed value
Assessed land
$715,200
Assessed improvement
$3,291,600
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Sale
Year built
1950
Construction
CONCRETE
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
1
Units
1
Rooms
5
Bathrooms
1
Total area
1,089 SF
Lot
3.52 ac (153,288 SF)
Zoning code
B2
APN
NAND M:00108 B:A0009 L:00000
UPID
US38-0848866
Jurisdiction
NORTH ANDOVER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
B2 · North Andover, MA
Zoning B2 · permitted uses
B2 · North Andover, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Andover. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1950
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
1
Rooms
5
Bathrooms
1
Lot
3.52 ac
Current owner
From public records · entity-resolved
Gill Family LLC
Entity
Mailing address
23 ASH ST, NORTH ANDOVER, MA 01845-5725
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 1, 2020
—
Gill Family LLC
—
Deed
related
$3,900,000 · Institution For Savings Newburyport
Jun 23, 2016
$675,000
Gill Family LLC
Murphy Ft
Quit Claim Arm's Length For Ne States
$506,250 · Northern Bk & Tr
Sep 9, 2013
$80,000
Stephen M Smolak
Murphy,kevin W
Quit Claim Deed
—
Dec 12, 2008
—
Kevin W Murphy
—
Deed Of Trust
related
$240,000 · Beverly National Bank
Oct 20, 2005
$600,000
Elizabeth A Murphy
Knowlton,edward M
Grant Deed
—
Oct 20, 2005
$1
Edward M Knowlton
Minasian,patricia
Grant Deed
related
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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