New search
Property profile & analytics
FOR LEASE
Industrial properties
40 Shattuck Rd, Andover, MA 01810
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US38-0492498
For Lease
1 / 2
$12,485,000
40 Shattuck Rd, Andover, MA 01810
View Listing →
Property summary
AI-generated overview
This prestigious Class A office building, located at 40 Shattuck Rd in Andover, MA (Essex County, zip code 01810), offers 120,000 square feet of prime executive office space. Built in 2001, the property currently has 66,260 square feet of vacant space available for lease. Multiple tenancy options are available, with spaces ranging from a minimum of 2,317 square feet to a maximum contiguous space of 20,696 square feet. Seven individual suites are currently available. This exceptional Andover location provides easy access to major transportation routes and amenities. The building's modern design and high-quality finishes create an ideal environment for businesses seeking a sophisticated and productive workspace. The property's strategic location in Essex County, Massachusetts, offers a thriving business community and a highly skilled workforce. This is an unparalleled opportunity to secure premium office space in a highly desirable location. Contact us today to learn more about the available suites and lease terms.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
2000
Construction
STEEL FRAME
Total area
125,896 SF
Lot
9.41 ac (410,117 SF)
Zoning code
ID
APN
ANDO M:00167 B:00015 L:0000B
UPID
US38-0492498
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
-
Radius Executive IT Solutions | #1 IT Services In Boston Area Tech Support Center IT Consulting Firm
-
Microtime Computers & Managed IT Services, Inc. Tech Support Center IT Consulting Firm
-
1stVision Inc. Electronics & Wireless Store
-
Advantage Reimbursement LLC Medical Clinic
-
Dental IT Solutions Tech Support Center IT Consulting Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$12.49M
Owner & transaction history
40 Shattuck Road LLC · 9 yrs held
40 Shattuck Road LLC
since 2017
4 recorded transactions
Zoning & alternative use
ID · Andover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$20,615,000
Current use
WAREHOUSE, STORAGE
$17,705,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$12.49M
Range $11.24M – $13.73M · ±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
$99 / 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
$394,601
Tax year 2024
Assessed value
$15,486,700
Assessed 2024
Previous assessed
$11,817,200
+31.1% YoY
Effective rate
2.55%
On assessed value
Assessed land
$2,881,900
Assessed improvement
$12,604,800
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Lease
Year built
2000
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
11
Bathrooms
12
Total area
125,896 SF
Lot
9.41 ac (410,117 SF)
Zoning code
ID
APN
ANDO M:00167 B:00015 L:0000B
UPID
US38-0492498
Jurisdiction
ANDOVER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
ID · Andover, MA
Zoning ID · permitted uses
ID · 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
INDUSTRIAL (GENERAL) Current
Est. value
$20.6M
WAREHOUSE, STORAGE
Est. value
$17.7M
INDUSTRIAL (GENERAL) Current
WAREHOUSE, STORAGE
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
2000
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
11
Bathrooms
12
Lot
9.41 ac
Current owner
From public records · entity-resolved
40 Shattuck Road LLC
Entity
Mailing address
200 W CUMMINGS PARK, WOBURN, MA 01801-6333
Ownership since
2017
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
Jul 6, 2017
—
40 Shattuck Road LLC
Dunham Ridge LLC
Quit Claim Deed
related
—
Jun 13, 2017
$12,000,000
Dunham Ridge LLC
Boston Properties LP
Quit Claim Deed
—
Jul 10, 2003
$13,200,000
Ihg Prop T Hpt
Intercontinental Hotels
Grant Deed
—
Dec 4, 2000
—
Boston Properties LP
—
Deed Of Trust
related
$16,000,000 · Zions First National Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
