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    350 Winthrop Ave North Andover, MA 01845-4289

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    350 Winthrop Ave North Andover, MA 01845-4289

    View on Map
    • Super regional malls
    • 232,908 SF
    • 12.67 lot acres
    Off-Market
    Property ID
    US38-1103970
    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
    $4,195,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Market Basket / Grocery & Convenience Store / Food Market
    • AT&T Store / Mobile Phone Store / Electronics & Wireless Store
    • Bollywood Grill / Restaurant
    • Quick Andover Locksmith / Locksmith
    • Posh Nails & Spa / Nail Salon

    Property Details for 350 Winthrop Ave

    Year built
    1968
    Lot size
    12.67 lot acres
    Property size
    232,908 SF
    Zone code
    B3
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    NAND M:00027 B:00027 L:00000
    APU
    NANDM00027B00027L00000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    North Andover
    County
    Essex
    State
    Massachusetts
    Longitude
    -71.1357
    Latitude
    42.6832
    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
    $131,067
    $6,071,000
    $2,330,700
    $8,401,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $835,000
      21,560 SF

      220 Sutton St

      REGIONAL SHOPPING CENTER, MALL • 21,560 SF
      220 Sutton St, North Andover, MA 01845-1680
      View Details
    • Value Estimation
      $505,000
      9,150 SF

      1211 Osgood St

      REGIONAL SHOPPING CENTER, MALL • 9,150 SF
      1211 Osgood St, North Andover, MA 01845-1047
      View Details
    • Value Estimation
      $1,770,000
      46,104 SF

      109 Main St, Unit 123

      REGIONAL SHOPPING CENTER, MALL • 46,104 SF
      109 Main St, North Andover, MA 01845-2419
      View Details
    • Value Estimation
      $3,400,000
      14,694 SF

      733 Tpke St

      REGIONAL SHOPPING CENTER, MALL • 14,694 SF
      733 Tpke St, North Andover, MA 01845-6137
      View Details
    • Value Estimation
      $875,000
      16,000 SF

      525 Tpke St

      REGIONAL SHOPPING CENTER, MALL • 16,000 SF
      525 Tpke St, North Andover, MA 01845-5815
      View Details
    • Value Estimation by Request
      76,741 SF

      175 Turnpike St

      Lifestyle centers • 76,741 SF
      175 Turnpike St, North Andover, MA 01845
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      30,000 SF

      Mixed-Use Building on 3.5 Acres

      Multi-tenanted 30,000 SF building on Route 114.
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    • $350,000

      Modern Office/Retail Space For Sale

      Class A office/retail space, renovated in 2023, high traffic location.
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      Retail/Office Condominium in North Andover

      Retail/office condominium space available in North Andover, Massachusetts.
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      Corner Commercial Unit For Sale

      Corner commercial unit in a busy business district, built in 2007.
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      Dealership and Auto Repair Business

      Commercial property with auto repair business and dealer license.
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    • $350,000
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      Modern Office/Retail Space For Sale

      Class A office/retail space, renovated in 2023, high traffic location.
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in North Andover

      Retail space available in a busy North Andover location.
      550 Tpke St Rte 114, North Andover, MA 01845
      View Details
    • $1.00 SF/Yr

      Established Retail Shopping Center Space

      Retail and service center with high traffic volume.
      554 Turnpike St, North Andover, MA 01845
      View Details
    • Contact for pricing

      Established Retail Shopping Center Space

      Retail and service spaces available in established shopping center.
      554 Turnpike St, North Andover, MA 01845
      View Details
    • $1.00 SF/Yr

      Established Retail Center For Lease

      Retail and service spaces available in established shopping center.
      554 Turnpike St, North Andover, MA 01845
      View Details
    • Contact for pricing
      1,716 SF

      New Retail Space Available

      New street-level retail space in North Andover's newest development.
      1274 Osgood St #2 -, North Andover, MA 01845
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail space available, offering 1,190 square feet.
      550 Turnpike St, North Andover, MA 01845
      View Details

    Property Visit Statistics

    • Visits by month
      60.0k
    • Visitors by month
      37.6k
    • Avg Time on site
      39 min
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    350 Winthrop Ave
    North Andover, MA 01845-4289
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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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    350 Winthrop Ave, North Andover, MA, 01845

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