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63 Park St, Andover, MA 01810
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Property summary
AI-generated overview
The property is a multi-tenant medical office building with a 2nd-floor office suite (Suite 208). The suite is designed with existing plumbing, providing infrastructure that can support tenant-specific buildouts. The building is positioned adjacent to professional and health/wellness tenants and includes an upgraded elevator. Common areas include a lobby and 2nd-floor shared spaces that have been undergoing renovation, and exterior improvements include updated siding, exterior lighting, signage, and landscaping. Municipal parking was renovated to support access to the facility.
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
Current use
Occupant on record · Public records
-
Counselor
-
Physician
-
Physician
-
Physician
-
Real Estate Agency
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.07M
CAP Approach
CAP
$7.48M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.02M
Owner & transaction history
since 2021
Last sale
$4.8M
3 recorded transactions
Zoning & alternative use
GB · Andover, MA
Zoning description
The purpose of this district is to provide general commercial uses
General category
COMMERCIAL
Top alternative use upside
Commercial (general)
$5.6M
+394.5%
Office building
$4.5M
+293.8%
Restaurant
$4.3M
+278.8%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
3 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$6.02M
Value range
$5.42M – $6.62M
±10% around blend
Estimated value / SF
$229 / SF
Confidence
Property data
100
Comparable evidence
60
Income certainty
100
$5.42M
blend $6.02M
$6.62M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
26,281 SF
Lot area
0.32 ac
Year built
1984
Stories
1
APN
ANDO M:00039 B:00100 L:00000
Zoning
GB
Assessed value
$3,845,300
Annual tax
$97,978
3
Income approach: direct capitalization
Partial preview
Income approach indication
$7.48M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$8.10M
@ 6.5% CAP return
$7.48M
@ 7% CAP return
$6.94M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$97,978
Selected cap rate
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$6.02M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+395%
vs current-use indication
Office Building
Restaurant
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
Selected market yield
8.10%
Selected cap rate for this super regional malls
Derived from the Andover market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 8.10%
9.0%
NOI (est.)
$30k *
Last sale · Oct 2021
$4.75M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$372k
Move the market yield to see immediate price impact.
Value / SF
$14
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
7.60%8.10%8.60%
$27k
$356k
$334k
$315k
$30k
$396k
$372k
$350k
$33k
$436k
$409k
$385k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
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
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
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, MAZoning GB · permitted uses
GB · Andover, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
The purpose of this district is to provide general commercial uses
General category
COMMERCIAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · 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
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
GB
COMMERCIAL
Jurisdiction
Andover, MA
Recorded code
GB
Official district
GB
Official district profile
What the municipal code says about GB
Zoning description
The purpose of this district is to provide general commercial uses
General category
COMMERCIAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for GB in Andover, MA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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