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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Commercial real estate
68 Park St Ste 6, Andover, MA 01810-3861
Trust Owned
38-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US38-0439072
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Year built
1890
Construction
FRAME
Total area
2,588 SF
Zoning code
GB
APN
ANDO M:00039 B:00087 L:00006
UPID
US38-0439072
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$665k
Blend (final)
Blend
$690k
Owner & transaction history
Park Alley Trust · 38 yrs held
Park Alley Trust
since 1988
Last sale
$42,600
1 recorded transaction
Zoning & alternative use
GB · Andover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$655,000
+27.2%
Auto repair, garage
$620,000
+20.2%
Retail stores
$575,000
+11.6%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$515,000
Current use
OFFICE BUILDING
$655,000
Change: +27% · Conversion: Easy
AUTO REPAIR, GARAGE
$620,000
Change: +20% · Conversion: Difficult
RETAIL STORES
$575,000
Change: +12% · Conversion: Easy
Blend value · Realmo final
$690k
Range $621k – $759k · ±10% · vs last sale $43k (Dec 3 2024)
Last sale anchor
$43k
Dec 3 2024
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
$267 / 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
$13,800
Tax year 2024
Assessed value
$541,600
Assessed 2024
Previous assessed
$493,400
+9.8% YoY
Effective rate
2.55%
On assessed value
Assessed improvement
$541,600
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
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Status
Off-Market
Year built
1890
Construction
FRAME
Heating
HOT WATER
Buildings
1
Stories
1
Units
2
Bathrooms
4
Total area
2,588 SF
Zoning code
GB
APN
ANDO M:00039 B:00087 L:00006
UPID
US38-0439072
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) Current
Est. value
$515,000
OFFICE BUILDING
Est. value
$655,000
AUTO REPAIR, GARAGE
Est. value
$620,000
RETAIL STORES
Est. value
$575,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
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
1890
Construction
FRAME
Heating
HOT WATER
Stories
1
Buildings
1
Units
2
Bathrooms
4
Current owner
From public records · entity-resolved
Park Alley Trust
Trust
Mailing address
243 BENT ST APT #3, CAMBRIDGE, MA 02141-2092
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1988
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 15, 1988
—
Park Alley Trust
—
Deed Of Trust
related
$233,000 · Shawmut Arlington Tr
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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