Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    583 Chickering Rd, Unit 6 North Andover, MA 01845-2830
    Property profile & analytics

    583 Chickering Rd, Unit 6 North Andover, MA 01845-2830

    View on Map
    • Commercial real estate
    • 1,650 SF
    Off-Market
    Last Sale May 13, 2025
    $375,000
    Property ID
    US38-2236702
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Polished Nail Lounge / Nail Salon

    Property Details for 583 Chickering Rd

    Year built
    1980
    Property size
    1,650 SF
    Property type
    Commercial real estate
    APN
    NAND M:00084 B:00028 L:0006B
    APU
    NANDM00084B00028L0006B

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    North Andover
    County
    Essex
    State
    Massachusetts
    Longitude
    -71.1187
    Latitude
    42.6969
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $3,622
    $0.00
    $232,200
    $232,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $4,195,000
      26,700 SF

      27 Charles St

      SHOW ROOM, WAREHOUSE • 26,700 SF
      27 Charles St, North Andover, MA 01845-1664
      View Details
    • Value Estimation by Request
      624 SF

      563 Chickering Rd

      COMMERCIAL CONDOMINUIM • 624 SF
      563 Chickering Rd, North Andover, MA 01845-2830
      View Details
    • Value Estimation
      $10,055,000
      31,307 SF

      1077 Osgood St

      COMMERCIAL (GENERAL) • 31,307 SF
      1077 Osgood St, North Andover, MA 01845-1003
      View Details
    • Value Estimation
      $935,000
      3,200 SF

      160 Pleasant St

      COMMERCIAL (GENERAL) • 3,200 SF
      160 Pleasant St, North Andover, MA 01845-2706
      View Details
    • Value Estimation
      $1,865,000
      6,076 SF

      127 Tpke St

      COMMERCIAL (GENERAL) • 6,076 SF
      127 Tpke St, North Andover, MA 01845
      View Details
    • Value Estimation by Request
      11,084 SF

      790 Waverly Rd

      Retail properties & Spaces • 11,084 SF
      790 Waverly Rd, North Andover, MA 01845
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Corner Commercial Unit For Sale

      Corner commercial unit in a busy business district, built in 2007.
      1019 Osgood St, North Andover, MA 01845
      View Details
    • Contact for pricing

      Dealership and Auto Repair Business

      Commercial property with auto repair business and dealer license.
      1615 Osgood St, North Andover, MA 01845
      View Details
    • Contact for pricing

      North Andover Office Condo For Sale

      Well-maintained office condo in North Andover Office Park.
      203 Turnpike St, North Andover, MA 01845
      View Details
    • Contact for pricing

      Professional Office Condo For Sale

      Office condominium with elevator access, ample parking, and kitchen.
      565 Turnpike St, North Andover, MA 01845
      View Details
    • $189,500

      Professional Office Space Near Highway

      Impressive office space near major highways, Route 495 and Route 93.
      231 Sutton St, North Andover, MA 01845
      View Details
    • $90,000

      Professional Suite in North Andover

      First-floor, two-room suite with high visibility and accessibility.
      451 Andover St, North Andover, MA 01845
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Professional Office Spaces For Rent

      Furnished office spaces available in North Andover professional building.
      33 Walker Rd, North Andover, MA 01845
      View Details
    • Contact for pricing
      2,310 SF

      North Andover Office Space Available

      Office space available for rent in North Andover, MA.
      89 Main St, North Andover, MA 01845
      View Details
    • Contact for pricing

      Professional Office Space Available

      1,400 SF office space with flexible, open layout.
      999 Osgood St, North Andover, MA 01845
      View Details
    • Contact for pricing
      1,420 SF

      North Andover Office Space Available

      First-class office space in North Andover with updated amenities.
      800 Turnpike St, North Andover, MA 01845
      View Details
    • Contact for pricing

      Retail Space in North Andover

      Retail space available in a busy North Andover location.
      550 Tpke St Rte 114, North Andover, MA 01845
      View Details
    • Contact for pricing
      1,716 SF

      New Retail Space Available

      New street-level retail space in North Andover's newest development.
      1274 Osgood St #2 -, North Andover, MA 01845
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    583 Chickering Rd, Unit 6
    North Andover, MA 01845-2830
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    583 Chickering Rd, North Andover, MA, 01845
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!