451 Andover St 207 North Andover, MA 01845-5044
Entity Owned
5-yr Hold
~
Est. High Equity
Estimated value (blended)
$615k
Range $554k – $677k (±10%)
Implied cap rate
4.70%
In-place · NOI ÷ last sale
Property ID
US38-0174913
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1990
Total area
980 SF
APN
NAND M:00024 B:00028 L:0207A
UPID
US38-0174913
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Employment Agency
-
Physician
-
Physician
-
Medical Clinic Skin Care Clinic
-
Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$570k
CAP Approach
CAP
$450k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$615k
Owner & transaction history
since 2020
Last sale
$515,000
4 recorded transactions
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 5 comparables with addresses
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$615k
Value range
$554k – $677k
±10% around blend
Estimated value / SF
$628 / SF
Confidence
High
5 county-verified comps
Property data
75
Market benchmarks
100
Comparable evidence
50
$554k
blend $615k
$677k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
980 SF
Year built
1990
Stories
2
APN
NAND M:00024 B:00028 L:0207A
Assessed value
$173,300
Annual tax
$2,703
3
Income approach: direct capitalization
Partial preview
Income approach indication
$450k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$485k
@ 6.5% CAP return
$450k
@ 7% CAP return
$415k
4
Sales comparison
Partial preview
Sales approach indication
$275k
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
6.9 mi away · 694 SF
7.6 mi away · 730 SF
9.3 mi away · 1,072 SF
9.9 mi away · 903 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$615k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 53 sales
$224
+180%
Submarket 53 sales
$224
+180%
County 417 sales
$257
+144%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $628/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
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Overview
Implied cap rate
4.70%
Implied, in-place cap rate for this office spaces
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 4.70%
9.0%
NOI (est.)
$36k *
Last sale · Feb 2026
$515k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$767k
Move the market yield to see immediate price impact.
Value / SF
$783
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
4.20%4.70%5.20%
$32k
$773k
$690k
$624k
$36k
$858k
$767k
$693k
$40k
$944k
$844k
$763k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$318k
1.3 mi · Feb 2026 · $280/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$2,703
Tax year 2024
Assessed value
$173,300
Assessed 2024
Previous assessed
$173,300
+0.0% YoY
Effective rate
1.56%
On assessed value
Assessed improvement
$173,300
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1990
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Total area
980 SF
APN
NAND M:00024 B:00028 L:0207A
UPID
US38-0174913
Jurisdiction
NORTH ANDOVER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1990
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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