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Property profile & analytics
OFF-MARKET
Estimated value
$855,000
Office buildings
471 Andover St, North Andover, MA 01845-5036
Individually Owned
~
Est. High Equity
Property ID
US38-1150535
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1920
Total area
1,921 SF
Lot
0.2 ac (8,777 SF)
Zoning code
B4
APN
NAND M:00024 B:00031 L:00000
UPID
US38-1150535
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
-
North Andover RE/MAX Partners Office Location Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$880k
Comparable Approach
Comparable
$804k
Blend (final)
Blend
$855k
Owner & transaction history
Merrimack College
Merrimack College
since 2025
7 recorded transactions
Zoning & alternative use
B4 · North Andover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$520,000
+20.5%
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 North Andover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North 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%
$950,000
6.5%
$880,000
7%
$815,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$520,000
Change: +20% · Conversion: Easy
Blend value · Realmo final
$855k
Range $770k – $941k · ±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
$445 / 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
$11,106
Tax year 2024
Assessed value
$711,900
Assessed 2024
Previous assessed
$711,900
+0.0% YoY
Effective rate
1.56%
On assessed value
Assessed land
$383,500
Assessed improvement
$328,400
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1920
Heating
HOT WATER
Buildings
1
Stories
2
Units
3
Bathrooms
2
Total area
1,921 SF
Lot
0.2 ac (8,777 SF)
Zoning code
B4
APN
NAND M:00024 B:00031 L:00000
UPID
US38-1150535
Jurisdiction
NORTH ANDOVER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
B4 · North Andover, MA
Zoning B4 · permitted uses
B4 · North Andover, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Andover. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$520,000
COMMERCIAL (GENERAL)
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
1920
Heating
HOT WATER
Stories
2
Buildings
1
Units
3
Bathrooms
2
Lot
0.2 ac
Current owner
From public records · entity-resolved
Merrimack College
Individual
Mailing address
44 PARK ST, ANDOVER, MA 01810-3692
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 7, 2025
$780,000
Merrimack College
471 Andover Street LLC
Deed
—
Nov 30, 2015
$512,500
471 Andover St LLC
A & C Realty Trust 2
Quit Claim Deed
—
Sep 26, 2011
$1
A RT
A&c RT
Grant Deed
—
Sep 26, 2011
—
A RT
—
Deed Of Trust
related
$447,000 · Everett Coop Bank
Jan 16, 2008
—
A RT
—
Deed Of Trust
related
$335,000 · Sovereign Bank
Aug 24, 2004
—
A RT
—
Deed Of Trust
related
$1,128,900 · Gary Needham
Jan 17, 2002
—
A RT
—
Deed Of Trust
related
$176,000 · Lawrence Savings Bank
Aug 25, 2000
—
A RT
—
Deed Of Trust
related
$191,250 · Lawrence Savings Bank
Dec 30, 1998
—
A RT
—
Deed Of Trust
related
$240,000 · Andover Bank
Oct 17, 1989
$300,000
A RT
F & W RT
Grant Deed
$240,000 · Andover 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.
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