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Property profile & analytics
OFF-MARKET
Estimated value
$1,780,000
Turn key restaurants
560 Main St, Andover, MA 01810-6261
Individually Owned
20-yr Hold
~
Est. High Equity
Property ID
US38-0483744
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2008
Construction
STEEL FRAME
Total area
6,323 SF
Lot
1.46 ac (63,598 SF)
Zoning code
SRC
APN
ANDO M:00085 B:00019 L:0000A
UPID
US38-0483744
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
-
Tokyo Steakhouse Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.52M
Blend (final)
Blend
$1.78M
Owner & transaction history
Hoang Main Street RT · 20 yrs held
Hoang Main Street RT
since 2006
4 recorded transactions
Zoning & alternative use
SRC · 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
RESTAURANT
$2,180,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,020,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$1.78M
Range $1.60M – $1.96M · ±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
$282 / 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
$67,881
Tax year 2024
Assessed value
$2,664,100
Assessed 2024
Previous assessed
$2,375,000
+12.2% YoY
Effective rate
2.55%
On assessed value
Assessed land
$757,400
Assessed improvement
$1,906,700
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
2008
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
3
Total area
6,323 SF
Lot
1.46 ac (63,598 SF)
Zoning code
SRC
APN
ANDO M:00085 B:00019 L:0000A
UPID
US38-0483744
Jurisdiction
ANDOVER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
SRC · Andover, MA
Zoning SRC · permitted uses
SRC · 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
RESTAURANT Current
Est. value
$2.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
RESTAURANT Current
APARTMENT HOUSE (5+ UNITS)
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
2008
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
3
Lot
1.46 ac
Current owner
From public records · entity-resolved
Hoang Main Street RT
Individual
Mailing address
27 BRK RD, WESTON, MA 02493-1712
Ownership since
2006
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
May 25, 2006
$1,150,000
Hoang Main Street RT
560 Main Street RT
Deed
$600,000 · Leader Bank NA
Jun 8, 2004
$769,000
560 South Main St. RT
Innes RT
Grant Deed
—
Sep 25, 1991
—
Ground Round INC
—
Deed Of Trust
related
$79,000,000 · Citizens National Bank
Dec 14, 1989
—
Ground Round INC
—
Deed Of Trust
related
$97,000,000 · Chemical 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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