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    Property profile & analytics

    2350 Tpke St North Andover, MA 01845-6347

    • Warehouses
    • 30,520 SF
    • 3.12 lot acres
    OFF-MARKET
    Value Estimations
    $2,975,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-2129442
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • SCP Pool Supply / (Bike/Boat/Book/etc) Store
    • SCP Distributors LLC / (Bike/Boat/Book/etc) Store / Hardware & Home Improvement
    • National Pool Tile Group / (Bike/Boat/Book/etc) Store / Hardware & Home Improvement
    • AV Repair Inc. / Auto Repair Shop
    • Silverstone Motorcars / Car Dealership

    Property Details for 2350 Tpke St

    Year built
    1986
    Lot size
    3.12 lot acres
    Property size
    30,520 SF
    Zone code
    I1
    Property type
    Warehouses
    APN
    NAND M:00108 B:A0019 L:00000
    APU
    NANDM00108BA0019L00000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,645,000
      Market price range: $1.91M - $6.55M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $4,290,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    North Andover
    County
    Essex
    State
    Massachusetts
    Longitude
    -71.0564
    Latitude
    42.6252
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $32,919
    $710,400
    $1,399,800
    $2,110,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $6,185,000
      50,094 SF

      1701 Osgood St

      WAREHOUSE, STORAGE • 50,094 SF
      1701 Osgood St, North Andover, MA 01845-1021
      View Details
    • Value Estimation
      $7,165,000
      66,000 SF

      1171 Tpke St

      WAREHOUSE, STORAGE • 66,000 SF
      1171 Tpke St, North Andover, MA 01845-6111
      View Details
    • Value Estimation
      $1,690,000
      90,300 SF

      25 Beechwood Dr

      WAREHOUSE, STORAGE • 90,300 SF
      25 Beechwood Dr, North Andover, MA 01845-1023
      View Details
    • Value Estimation
      $1,090,000
      10,848 SF

      87 Belmont St

      WAREHOUSE, STORAGE • 10,848 SF
      87 Belmont St, North Andover, MA 01845-2343
      View Details
    • Value Estimation
      $2,220,000
      20,838 SF

      1429 Osgood St

      WAREHOUSE, STORAGE • 20,838 SF
      1429 Osgood St, North Andover, MA 01845-1012
      View Details
    • Value Estimation
      $3,630,000
      30,224 SF

      350 Willow St

      WAREHOUSE, STORAGE • 30,224 SF
      350 Willow St, North Andover, MA 01845-5920
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,000 SF

      Industrial Flex Bays For Sale

      High-quality industrial flex bays suitable for manufacturing and shipping.
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      1,100 SF

      Accessible Office Space for Rent

      First floor office space with handicap access and ample parking.
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      North Andover Office Condominium For Sale

      Office condominium available for purchase, with monthly condo fees.
      565 Turnpike St, North Andover, MA 01845
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      957 SF

      Office Unit at Chestnut Green

      Third-floor office unit with reception area in North Andover.
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      View Details
    • $200,000
      1,723 SF

      Professional Office Space Available

      Move-in ready office space in North Andover, near major highways.
      231 Sutton #2F, North Andover, MA 01845
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      Full-floor medical office condo with easy highway access.
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    Similar Nearby for Lease

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      48,000 SF

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      48,000 sq ft warehouse space for lease.
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      20,000 SF

      North Andover Flex/Industrial Space

      Flex/industrial space available for lease in North Andover, MA.
      300 Willow St, North Andover, MA 01845
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      22,331 SF

      North Andover Flex/Industrial Space

      Flex/industrial space available for lease in North Andover, MA.
      50 High St, North Andover, MA 01845
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      Flex Space in Beaver Brook

      Modern flex building in a convenient Littleton location.
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    • Sponsored
      Contact for pricing

      MA, North Andover - Osgood Street

      Workspaces, services and support to help you work better in MA, North Andover - Osgood Street
      1274 Osgood St, North Andover, MA 01845
      View Details
    • Contact for pricing
      10,300 SF

      Flex R&D Space Available

      Flex R&D space available for sublease in North Andover.
      1-86 High St, North Andover, MA 01845
      View Details
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    North Andover, MA 01845-6347
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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