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Property profile & analytics
OFF-MARKET
Estimated value
$2,900,000
Investment properties
535 Chickering Rd, North Andover, MA 01845-2829
Individually Owned
33-yr Hold
Property ID
US38-1498359
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1968
Total area
11,884 SF
Lot
1.52 ac (66,211 SF)
Zoning code
GB
APN
NAND M:00071 B:00033 L:00000
UPID
US38-1498359
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
-
Pizza Factory Restaurant
-
Dunkin' Cafe & Coffee Shop
-
LibertyX Bitcoin ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.70M
Comparable Approach
Comparable
$3.00M
Blend (final)
Blend
$2.90M
Owner & transaction history
Louis P Minicucci JR. · 33 yrs held
Louis P Minicucci JR.
since 1993
4 recorded transactions
Zoning & alternative use
GB · North Andover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.1M
+28.0%
Apartment house (5+ units)
$3.8M
+18.6%
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%
$4,010,000
6.5%
$3,700,000
7%
$3,440,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,205,000
Current use
RESTAURANT
$4,100,000
Change: +28% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,800,000
Change: +19% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,845,000
Change: -11% · Conversion: Difficult
OFFICE BUILDING
$2,660,000
Change: -17% · Conversion: Easy
RETAIL STORES
$2,645,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$2.90M
Range $2.61M – $3.19M · ±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
$244 / 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
Assessed value
$2,002,200
Assessed 2024
Previous assessed
$2,002,200
+0.0% YoY
Assessed land
$728,300
Assessed improvement
$1,273,900
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1968
Heating
HOT WATER
Buildings
1
Stories
3
Units
2
Rooms
6
Bathrooms
7
Total area
11,884 SF
Lot
1.52 ac (66,211 SF)
Zoning code
GB
APN
NAND M:00071 B:00033 L:00000
UPID
US38-1498359
Jurisdiction
NORTH ANDOVER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
GB · North Andover, MA
Zoning GB · permitted uses
GB · 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) Current
Est. value
$3.2M
RESTAURANT
Est. value
$4.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.8M
AUTO REPAIR, GARAGE
Est. value
$2.8M
OFFICE BUILDING
Est. value
$2.7M
RETAIL STORES
Est. value
$2.6M
COMMERCIAL (GENERAL) Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
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
1968
Heating
HOT WATER
Stories
3
Buildings
1
Units
2
Rooms
6
Bathrooms
7
Lot
1.52 ac
Current owner
From public records · entity-resolved
Louis P Minicucci JR.
Individual
Mailing address
231 SUTTON ST STE 1B, NORTH ANDOVER, MA 01845-1620
Ownership since
1993
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
Dec 9, 2016
—
Chickering Properties LLC
—
Deed
related
$1,750,000 · Newburyport Five Cents Svgs Bk
Dec 17, 1996
—
Louis Minicucci JR.
—
Deed Of Trust
related
$127,500 · Andover Bank
Mar 31, 1993
$600,000
Louis P Minicucci JR.
Buco,andrew L
Grant Deed
$600,000 · Andover Bank
—
—
Chickering Properties LLC
—
Deed Of Trust
related
$1,750,000 · Newburyport Five Cents Svgs Bk
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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