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Property profile & analytics
FOR LEASE
Industrial properties
600 Federal St, Andover, MA 01810
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US38-2163730
For Lease
1 / 6
$21,450,000
600 Federal St, Andover, MA 01810
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
CONDOMINIUMS (INDUSTRIAL)
Year built
1998
Construction
STEEL FRAME
Total area
109,882 SF
Zoning code
ID
APN
ANDO M:00145 B:00010 L:00001
UPID
US38-2163730
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
-
CGI Business Management Consultant
-
Hyland Software Inc. (Bike/Boat/Book/etc) Store Corporate Office
-
Polycom Industrial Manufacturer Production Facility
-
Wright-Pierce Engineering Consultant
-
Watts Water Technologies Andover Facility Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$17.98M
Comparable Approach
Comparable
$22.16M
Blend (final)
Blend
$21.45M
Owner & transaction history
300 600 Federal Hldg LLC · 4 yrs held
300 600 Federal Hldg LLC
since 2021
Last sale
$28.4M
2 recorded transactions
Zoning & alternative use
ID · Andover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$35.1M
+95.3%
Office building
$27.9M
+54.9%
Auto repair, garage
$26.3M
+46.3%
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%
$19,480,000
6.5%
$17,980,000
7%
$16,695,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$17,990,000
Current use
APARTMENT HOUSE (5+ UNITS)
$35,135,000
Change: +95% · Conversion: Difficult
OFFICE BUILDING
$27,865,000
Change: +55% · Conversion: Difficult
AUTO REPAIR, GARAGE
$26,320,000
Change: +46% · Conversion: Easy
RETAIL STORES
$24,440,000
Change: +36% · Conversion: Moderate
COMMERCIAL (GENERAL)
$21,900,000
Change: +22% · Conversion: Difficult
WAREHOUSE, STORAGE
$15,450,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$21.45M
Range $19.31M – $23.60M · ±10% · vs last sale $28.35M (Sep 23 2021)
Last sale anchor
$28.35M
Sep 23 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
$195 / 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
$370,836
Tax year 2024
Assessed value
$14,554,000
Assessed 2024
Previous assessed
$13,398,600
+8.6% YoY
Effective rate
2.55%
On assessed value
Assessed improvement
$14,554,000
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
Industrial properties
Use group
CONDOMINIUMS (INDUSTRIAL)
Status
For Lease
Year built
1998
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Total area
109,882 SF
Zoning code
ID
APN
ANDO M:00145 B:00010 L:00001
UPID
US38-2163730
Jurisdiction
ANDOVER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
ID · Andover, MA
Zoning ID · permitted uses
ID · 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
INDUSTRIAL (GENERAL) Current
Est. value
$18.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$35.1M
OFFICE BUILDING
Est. value
$27.9M
AUTO REPAIR, GARAGE
Est. value
$26.3M
RETAIL STORES
Est. value
$24.4M
COMMERCIAL (GENERAL)
Est. value
$21.9M
WAREHOUSE, STORAGE
Est. value
$15.5M
INDUSTRIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1998
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Current owner
From public records · entity-resolved
300 600 Federal Hldg LLC
Entity
Mailing address
10 POST OFC SQ STE #800, BOSTON, MA 02109-4603
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 23, 2021
$28,350,000
300 600 Federal Hldg LLC
Gcp Andover LLC
Quit Claim Arm's Length For Ne States
$35,320,000 · Oceanfirst Bank
Oct 2, 2020
—
Gcp Andover LLC
—
Deed
related
$1,052,713 · Boston Private Bank & Trust Company
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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