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Property profile & analytics
OFF-MARKET
Estimated value
$20,605,000
Life science properties
3 Riverside Dr, Andover, MA 01810-1148
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US38-0215423
Property profile
Verified
Property type
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Year built
1985
Total area
91,018 SF
Lot
7.4 ac (322,344 SF)
Zoning code
IA
APN
ANDO M:00126 B:00004 L:0000C
UPID
US38-0215423
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
-
Fishman Transducers Factory Production Facility
-
New England Orthodontic Laboratory Dental Office
-
Merrimack Valley Physicians Medical Clinic
-
Weston Solutions Property Management Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$20.61M
Owner & transaction history
3 Riverside Owner LLC · 4 yrs held
3 Riverside Owner LLC
since 2022
Last sale
$19.8M
7 recorded transactions
Zoning & alternative use
IA · Andover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$19.4M
+1,040.3%
Office building
$15.5M
+808.0%
Restaurant
$14.9M
+773.6%
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
$22,175,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$19,440,000
Change: +1,040% · Conversion: Difficult
OFFICE BUILDING
$15,480,000
Change: +808% · Conversion: Difficult
RESTAURANT
$14,890,000
Change: +774% · Conversion: Difficult
Blend value · Realmo final
$20.61M
Range $18.54M – $22.67M · ±10% · vs last sale $19.82M (Jun 1 2022)
Last sale anchor
$19.82M
Jun 1 2022
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
$226 / 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
$246,494
Tax year 2024
Assessed value
$9,674,000
Assessed 2024
Previous assessed
$8,585,000
+12.7% YoY
Effective rate
2.55%
On assessed value
Assessed land
$2,790,700
Assessed improvement
$6,883,300
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
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Status
Off-Market
Year built
1985
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
16
Total area
91,018 SF
Lot
7.4 ac (322,344 SF)
Zoning code
IA
APN
ANDO M:00126 B:00004 L:0000C
UPID
US38-0215423
Jurisdiction
ANDOVER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
IA · Andover, MA
Zoning IA · permitted uses
IA · 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
COMMERCIAL (GENERAL)
Est. value
$19.4M
OFFICE BUILDING
Est. value
$15.5M
RESTAURANT
Est. value
$14.9M
COMMERCIAL (GENERAL)
OFFICE BUILDING
RESTAURANT
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
1985
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
16
Lot
7.4 ac
Current owner
From public records · entity-resolved
3 Riverside Owner LLC
Entity
Mailing address
50 FOUNTAIN PLZ STE #500, BUFFALO, NY 14202-2213
Ownership since
2022
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
Dec 22, 2025
—
3 Riverside Owner LLC
—
Deed
related
$13,275,000 · Manufacturers & Traders Trust Co
Jun 1, 2022
$19,822,000
3 Riverside Owner LLC
Rhino 3 Riverside LLC
Quit Claim Arm's Length For Ne States
$14,100,000 · Cambridge Trust Co
Mar 2, 2021
$16,120,000
Rhino 3 Riverside LLC
Jumbo Andover Collection
Quit Claim Arm's Length For Ne States
$11,270,000 · Cambridge Savings Bank
Mar 29, 2018
—
Jumbo Andovere Collection
Jumbo Cap Andover Ptnrs
Quit Claim Deed
related
—
Aug 27, 2014
$4,050,000
Jumbo Capital Andover
Stj Riverside Equity
Quit Claim Deed
—
Oct 18, 2010
$1
Stj Riverside Equity LLC
Andover Equity Prtn LLC
Grant Deed
—
Oct 2, 2007
—
Andover Equity Partne LLC
—
Deed Of Trust
related
$9,473,312 · General Electric Capital Corp
Jun 23, 2006
$8,200,000
Ando Equity Partners L
Ber Tech Riverside LLC
Deed
$9,999,999 · Merrill Lynch Capital
Mar 5, 2003
—
River Rd Andover LLC
—
Deed Of Trust
related
$2,000,000 · Citizens Bank Of Ma
Oct 19, 1999
$2,025,000
Ber Tech Riverside LLC
Aetna Real Est Assoc
Grant Deed
$5,975,000 · Zuckerman Family Nomi
Feb 8, 1988
$9,290,000
Aetna Re Assocs LP
River Rd RT
Grant Deed
—
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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