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Property profile & analytics
OFF-MARKET
Estimated value
$1,810,000
Warehouses
637 Andover St, Lawrence, MA 01843-1015
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US38-1739724
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
12,116 SF
Lot
1.62 ac (70,567 SF)
APN
LAWR M:0180 B:0000 L:0006
UPID
US38-1739724
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
-
Castaway Technologies Business To Business Service
-
U-Haul Neighborhood Dealer Car Rental Facility
-
Studio Imaging 637 Wedding Service Photography Service
-
Spicket River Electronics Electronics & Wireless Store Discount Store
-
Lawrence Ice and Propane Big Box & Wholesale Store Distribution Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.80M
CAP Approach
CAP
$2.41M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.81M
Owner & transaction history
Castaway Realty LLC · 6 yrs held
Castaway Realty LLC
since 2020
Last sale
$1.5M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.9M
+70.4%
Retail stores
$2.1M
+23.7%
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 Lawrence submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lawrence 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
$1,895,000
ML approach
$1,795,000
CAP Approach
CAP Return
Estimation
6%
$2,610,000
6.5%
$2,410,000
7%
$2,235,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,705,000
Current use
AUTO REPAIR, GARAGE
$2,900,000
Change: +70% · Conversion: Easy
RETAIL STORES
$2,105,000
Change: +24% · Conversion: Moderate
Blend value · Realmo final
$1.81M
Range $1.63M – $1.99M · ±10% · vs last sale $1.48M (Feb 6 2020)
Last sale anchor
$1.48M
Feb 6 2020
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
$149 / 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
$30,717
Tax year 2024
Assessed value
$1,585,800
Assessed 2024
Previous assessed
$1,585,800
+0.0% YoY
Effective rate
1.94%
On assessed value
Assessed land
$400,500
Assessed improvement
$1,185,300
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
2
Total area
12,116 SF
Lot
1.62 ac (70,567 SF)
APN
LAWR M:0180 B:0000 L:0006
UPID
US38-1739724
Jurisdiction
LAWRENCE
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$2.9M
RETAIL STORES
Est. value
$2.1M
WAREHOUSE, STORAGE Current
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
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
2
Lot
1.62 ac
Current owner
From public records · entity-resolved
Castaway Realty LLC
Entity
Mailing address
57 OLD VLG LN, NORTH ANDOVER, MA 01845-4530
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 6, 2020
$1,475,000
Castaway Realty LLC
637 Andover Street RT
Quit Claim Arm's Length For Ne States
$1,100,000 · Avidia Bank
Nov 22, 2006
—
637 Andover Street RT
—
Deed Of Trust
related
$456,000 · Bay Colony Dev Corp
Jun 15, 2006
—
637 Andover Street RT
—
Deed Of Trust
related
$441,200 · Enterprise Bank & Trust
Nov 17, 2005
$825,000
637 Andover St. RT
Bhg Mgmt Corp
Grant Deed
$500,000 · Enterprise Bank & Trust
Nov 17, 2005
—
637 Andover St. RT
—
Deed Of Trust
related
$400,000 · Enterprise Bank & Trust
Aug 31, 1990
—
Bhg Management Co
—
Deed Of Trust
related
$520,590 · Andover Bank
Jun 11, 1987
$575,000
Bhg Management Corp
Labell,joel R
Grant Deed
$550,000 · Andover 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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