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Property profile & analytics
OFF-MARKET
Estimated value
$560,000
Office Spaces
246 Andover St Ste 201, Peabody, MA 01960-1554
Trust Owned
6-yr Hold
Free & Clear
Property ID
US38-0976419
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2007
Construction
FRAME
Total area
3,094 SF
Zoning code
R1B
APN
PEAB M:0039 B:0501
UPID
US38-0976419
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
$335k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$683k
Blend (final)
Blend
$560k
Owner & transaction history
Trickett RT Trust · 6 yrs held
Trickett RT Trust
since 2019
4 recorded transactions
Zoning & alternative use
R1B · Peabody, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$740,000
+29.6%
Retail stores
$690,000
+20.3%
Commercial (general)
$670,000
+16.9%
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 Peabody submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Peabody 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
$335,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$570,000
Current use
AUTO REPAIR, GARAGE
$740,000
Change: +30% · Conversion: Difficult
RETAIL STORES
$690,000
Change: +20% · Conversion: Moderate
COMMERCIAL (GENERAL)
$670,000
Change: +17% · Conversion: Easy
Blend value · Realmo final
$560k
Range $504k – $616k · ±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
$181 / 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
$9,637
Tax year 2024
Assessed value
$511,800
Assessed 2024
Previous assessed
$511,800
+0.0% YoY
Effective rate
1.88%
On assessed value
Assessed improvement
$511,800
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
2007
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Total area
3,094 SF
Zoning code
R1B
APN
PEAB M:0039 B:0501
UPID
US38-0976419
Jurisdiction
PEABODY
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
R1B · Peabody, MA
Zoning R1B · permitted uses
R1B · Peabody, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Peabody. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$570,000
AUTO REPAIR, GARAGE
Est. value
$740,000
RETAIL STORES
Est. value
$690,000
COMMERCIAL (GENERAL)
Est. value
$670,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
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
2007
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Current owner
From public records · entity-resolved
Trickett RT Trust
Trust
Free & Clear · 6 yrs held
Mailing address
246 ANDOVER ST STE #201, PEABODY, MA 01960-1554
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 19, 2019
$400,000
Trickett RT Trust
Andover Group LLC
Quit Claim Deed
—
Oct 7, 2015
—
Andover Group LLC
149 Main LLC
Quit Claim Deed
related
—
Jul 18, 2014
—
149 Main LLC
—
Deed Of Trust
related
$517,500 · Inst Savings Newburyport
Dec 31, 2008
$600,000
149 Main LLC
201 Willowdale RT
Grant Deed
$464,107 · 201 Willowdale RT
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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