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Property profile & analytics
FOR LEASE
Super regional malls
63 Park St 208 Andover, MA 01810
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US38-1787940
For Lease
1 / 8
$29 SF/Yr
63 Park St,Unit 208, Andover, MA 01810
View Listing →
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1984
Construction
FRAME
Total area
26,281 SF
Lot
0.32 ac (13,852 SF)
Zoning code
GB
APN
ANDO M:00039 B:00100 L:00000
UPID
US38-1787940
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
-
Traci Connor Counselor
-
Shelley A. Woolsey, RD Physician
-
Suzanne Saindon Physician
-
Lydia Jeffcoat Physician
-
Stephan Coufos - Coco, Early & Associates Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.07M
CAP Approach
CAP
$7.48M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.82M
Owner & transaction history
Park Street Offices LLC · 4 yrs held
Park Street Offices LLC
since 2021
Last sale
$4.8M
3 recorded transactions
Zoning & alternative use
GB · Andover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.6M
+394.5%
Office building
$4.5M
+293.8%
Restaurant
$4.3M
+278.8%
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
$6,020,000
ML approach
$6,070,000
CAP Approach
CAP Return
Estimation
6%
$8,095,000
6.5%
$7,475,000
7%
$6,940,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,615,000
Change: +395% · Conversion: Easy
OFFICE BUILDING
$4,470,000
Change: +294% · Conversion: Moderate
RESTAURANT
$4,300,000
Change: +279% · Conversion: Difficult
Blend value · Realmo final
$5.82M
Range $5.23M – $6.40M · ±10% · vs last sale $4.75M (Oct 29 2021)
Last sale anchor
$4.75M
Oct 29 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
$221 / 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
$97,978
Tax year 2024
Assessed value
$3,845,300
Assessed 2024
Previous assessed
$3,539,400
+8.6% YoY
Effective rate
2.55%
On assessed value
Assessed land
$539,400
Assessed improvement
$3,305,900
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
For Lease
Year built
1984
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
22
Bathrooms
8
Total area
26,281 SF
Lot
0.32 ac (13,852 SF)
Zoning code
GB
APN
ANDO M:00039 B:00100 L:00000
UPID
US38-1787940
Jurisdiction
ANDOVER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
GB · Andover, MA
Zoning GB · permitted uses
GB · 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
$5.6M
OFFICE BUILDING
Est. value
$4.5M
RESTAURANT
Est. value
$4.3M
COMMERCIAL (GENERAL)
OFFICE BUILDING
RESTAURANT
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
1984
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
22
Bathrooms
8
Lot
0.32 ac
Current owner
From public records · entity-resolved
Park Street Offices LLC
Entity
Mailing address
63 PARK ST STE #1, ANDOVER, MA 01810-3663
Mailing matches property
Yes
Owner-occupied
Yes
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 5, 2025
—
Park Street Offices LLC
—
Deed
related
$1,000,000 · Enterprise Bank & Trust Co
Oct 29, 2021
$4,750,000
Park Street Offices LLC
Sprburn LLC
Quit Claim Arm's Length For Ne States
$3,750,000 · Enterprise Bank & Trust Co
Dec 17, 2007
$1
Springburn LLC Series St
Finlayson,robert A
Grant Deed
—
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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