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    30 Massachusetts Ave North Andover, MA 01845
    Property profile & analytics

    30 Massachusetts Ave North Andover, MA 01845

    View on Map
    • Office buildings
    • 44,699 SF
    • 1.12 lot acres
    For Lease
    $300/Mo
    View Listing →
    North Andover Office Conference Room For Lease
    $300/Mo
    48,000 SF

    North Andover Office Conference Room

    Conference room available for rent in North Andover, MA.

    30 Massachusetts Avenue, North Andover, MA 1845
    View Listing
    Property ID
    US38-0897407
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Frank and Son Leading Edge General Contractor / Construction Company / General Contractor
    • ProConnections, Inc. / Industrial Manufacturer / Production Facility
    • FedEx Drop Box / Postal Service / Courier Service
    • Licciardello Financial Sevices / Compass Capital Corporation / Financial Advisor
    • M&T Bank / Bank / Loan Service

    Property Details for 30 Massachusetts Ave

    Year built
    1987
    Lot size
    1.12 lot acres
    Property size
    44,699 SF
    Zone code
    GB
    Property type
    Office buildings
    APN
    NAND M:00002 B:00005 L:00000
    APU
    NANDM00002B00005L00000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,509,000
      Market price range: $6.51M - $18.7M

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

    Location Insight

    • Map
    • Local Demand
    City
    North Andover
    County
    Essex
    State
    Massachusetts
    Longitude
    -71.1435
    Latitude
    42.6988
    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
    $66,462
    $536,700
    $3,723,700
    $4,260,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $12,425,000
      61,380 SF

      815 Chestnut St

      OFFICE BUILDING • 61,380 SF
      815 Chestnut St, North Andover, MA 01845-6009
      View Details
    • Value Estimation
      $800,000
      1,794 SF

      483 Chickering Rd

      OFFICE BUILDING • 1,794 SF
      483 Chickering Rd, North Andover, MA 01845-4036
      View Details
    • Value Estimation
      $3,910,000
      16,200 SF

      401 Andover St

      OFFICE BUILDING • 16,200 SF
      401 Andover St, North Andover, MA 01845-5076
      View Details
    • Value Estimation by Request
      260,720 SF

      1600 Osgood St

      OFFICE BUILDING • 260,720 SF
      1600 Osgood St, North Andover, MA 01845-1048
      View Details
    • Value Estimation by Request
      4,818 SF

      163 Main St

      OFFICE BUILDING • 4,818 SF
      163 Main St, North Andover, MA 01845-2508
      View Details
    • Value Estimation
      $560,000
      2,592 SF

      28 School St

      OFFICE BUILDING • 2,592 SF
      28 School St, North Andover, MA 01845
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Four-Story Office Building on Route 114

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      View Details
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      First-Class Office Space Available

      Office park with updated amenities and convenient highway access.
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      20,294 SF

      Four-Story Office Building on Route

      Freestanding office building on a prominent lot with prime visibility.
      1538 Turnpike St, North Andover, MA 01845
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    • Contact for pricing
      20,294 SF

      Freestanding Office Building on Route 114

      Four-story office building on an acre lot in North Andover.
      1538 Turnpike St, North Andover, MA 01845
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    • Contact for pricing
      426 SF

      Professional Office Park Unit

      Office space in professional park near major highways.
      231 Sutton St, North Andover, MA 01845
      View Details
    • Contact for pricing
      1,422 SF

      Professional Office Space Near Highway

      Impressive office space in professional park near major highways.
      231 Sutton St, North Andover, MA 01845
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      48,000 SF

      North Andover Office Conference Room

      Conference room available for rent in North Andover, MA.
      30 Massachusetts Ave, North Andover, MA 01845
      View Details
    • $25 SF/Yr
      46,104 SF

      First & Main: North Andover Office

      Prime North Andover office space, multiple suites available.
      109 Main St, North Andover, MA 01845
      View Details
    • $25 SF/Yr
      5,050 SF

      Adaptable Commercial Space with Natural Light

      Versatile 5,050 SF commercial space suitable for various uses.
      1820 Turnpike St, North Andover, MA 01845
      View Details
    • Contact for pricing
      4,855 SF

      New Office Space Available

      Ready-to-occupy office space in North Andover's newest development.
      1274 Osgood St, North Andover, MA 01845
      View Details
    • Contact for pricing
      10,300 SF

      North Andover Flex R&D Space

      Flex R&D space available for sublease in North Andover.
      1 High St, North Andover, MA 01845
      View Details
    • Contact for pricing

      Move-in Ready North Andover Office

      Furnished office space ideal for small businesses and professional services.
      451 Andover St, North Andover, MA 01845
      View Details
    View Listing
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    North Andover, MA 01845
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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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