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Property profile & analytics
FOR LEASE
Life science properties
6 Riverside Dr, Andover, MA 01810
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US38-1864114
For Lease
1 / 2
$11,895,000
6 Riverside Dr, Andover, MA 01810
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Property profile
Verified
Property type
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Year built
1989
Construction
STEEL FRAME
Total area
77,016 SF
Lot
8.55 ac (372,438 SF)
Zoning code
IA
APN
ANDO M:00125 B:00005 L:00000
UPID
US38-1864114
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
-
InstantEye Robotics Industrial Manufacturer Production Facility
-
Omtool Limited (Bike/Boat/Book/etc) Store Corporate Office
-
Frontline Education (Bike/Boat/Book/etc) Store Corporate Office
-
eSTAR Training Center Tutoring Service
-
SciAps, Inc. Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.88M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$11.90M
Owner & transaction history
6 Riverside Owner LLC · 4 yrs held
6 Riverside Owner LLC
since 2021
Last sale
$12.4M
7 recorded transactions
Zoning & alternative use
IA · Andover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$16.5M
+1,040.3%
Office building
$13.1M
+808.0%
Restaurant
$12.6M
+773.6%
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 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
$15,720,000
ML approach
$10,880,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$16,450,000
Change: +1,040% · Conversion: Difficult
OFFICE BUILDING
$13,095,000
Change: +808% · Conversion: Difficult
RESTAURANT
$12,600,000
Change: +774% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$10,145,000
Change: +603% · Conversion: Difficult
AUTO REPAIR, GARAGE
$9,950,000
Change: +590% · Conversion: Difficult
RETAIL STORES
$7,465,000
Change: +417% · Conversion: Difficult
Blend value · Realmo final
$11.90M
Range $10.71M – $13.08M · ±10% · vs last sale $12.40M (Nov 30 2021)
Last sale anchor
$12.40M
Nov 30 2021
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
$154 / 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
$239,451
Tax year 2024
Assessed value
$9,397,600
Assessed 2024
Previous assessed
$10,041,600
-6.4% YoY
Effective rate
2.55%
On assessed value
Assessed land
$2,854,700
Assessed improvement
$6,542,900
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
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Status
For Lease
Year built
1989
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
8
Total area
77,016 SF
Lot
8.55 ac (372,438 SF)
Zoning code
IA
APN
ANDO M:00125 B:00005 L:00000
UPID
US38-1864114
Jurisdiction
ANDOVER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
IA · Andover, MA
Zoning IA · permitted uses
IA · 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
COMMERCIAL (GENERAL)
Est. value
$16.5M
OFFICE BUILDING
Est. value
$13.1M
RESTAURANT
Est. value
$12.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.1M
AUTO REPAIR, GARAGE
Est. value
$10.0M
RETAIL STORES
Est. value
$7.5M
COMMERCIAL (GENERAL)
OFFICE BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
1989
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
8
Lot
8.55 ac
Current owner
From public records · entity-resolved
6 Riverside Owner LLC
Entity
Mailing address
50 FOUNTAIN PLZ STE #500, BUFFALO, NY 14202-2213
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 22, 2025
—
6 Riverside Owner LLC
—
Deed
related
$15,000,000 · Manufacturers & Traders Trust Co
Nov 14, 2024
—
6 Riverside Owner LLC
—
Deed
related
$11,400,000 · Bar Harbor Bank & Trust Co
Nov 30, 2021
$12,400,000
6 Riverside Owner LLC
Rhino Andover Collection
Quit Claim Arm's Length For Ne States
$8,229,000 · Bar Harbor Bank & Trust Co
Apr 9, 2021
—
Rhino Andover Collection
Andover Collection RT
Quit Claim Deed
related
—
Mar 3, 2021
—
Rhino Andover Collection
—
Deed
related
$12,370,000 · Cambridge Savings Bank
Mar 29, 2018
$5,250,000
Andover Collection Realty Trust
Q Riverside Property LLC
Quit Claim Deed
—
Jan 10, 2014
—
Q Riverside Property LLC
Cip Riverside LLC
Quit Claim Deed
related
—
Apr 30, 2007
—
Cip Old River LLC
—
Deed Of Trust
related
$17,000,000 · Capmark Bank
Dec 14, 2006
$8,300,000
Cif Riverside LLC
Sfi 1 LLC
Grant Deed
—
Oct 23, 1996
—
Pk LP Andover Research
—
Deed Of Trust
related
$3,600 · Manufacturers Hanover Fin'l Sv
Mar 19, 1993
$3,937,000
Pk Andover Research
National Capital Prop
Grant Deed
$2,949,500 · Zions First National 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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