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Property profile & analytics
OFF-MARKET
Estimated value
$2,525,000
Banks
69 Park St, Andover, MA 01810-3691
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US38-0164709
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2004
Construction
FRAME
Total area
13,447 SF
Lot
0.54 ac (23,479 SF)
Zoning code
GB
APN
ANDO M:00039 B:00098 L:00000
UPID
US38-0164709
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
-
Sirakian Aesthetic & Implant Dentistry Dental Office
-
Law Office of Debra Rahmin Silberstein Law Firm
-
Stephen P. Shannon Law Firm
-
Feinman Law Offices Law Firm
-
Cambridge Trust Bank Loan Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.53M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.53M
Owner & transaction history
69 Park LLC · 1 yrs held
69 Park LLC
since 2024
Last sale
$2.5M
7 recorded transactions
Zoning & alternative use
GB · Andover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.9M
+75.7%
Office building
$2.3M
+39.9%
Restaurant
$2.2M
+34.6%
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
$2,525,000
ML approach
$2,525,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$1,635,000
Current use
COMMERCIAL (GENERAL)
$2,870,000
Change: +76% · Conversion: Difficult
OFFICE BUILDING
$2,285,000
Change: +40% · Conversion: Difficult
RESTAURANT
$2,200,000
Change: +35% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,770,000
Change: +8% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,735,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$2.53M
Range $2.27M – $2.78M · ±10% · vs last sale $2.53M (Nov 22 2024)
Last sale anchor
$2.53M
Nov 22 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
$188 / 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
$60,436
Tax year 2024
Assessed value
$2,371,900
Assessed 2024
Previous assessed
$2,185,100
+8.5% YoY
Effective rate
2.55%
On assessed value
Assessed land
$711,500
Assessed improvement
$1,660,400
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
2004
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
2
Rooms
10
Bathrooms
2
Total area
13,447 SF
Lot
0.54 ac (23,479 SF)
Zoning code
GB
APN
ANDO M:00039 B:00098 L:00000
UPID
US38-0164709
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
FINANCIAL BUILDING Current
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$2.9M
OFFICE BUILDING
Est. value
$2.3M
RESTAURANT
Est. value
$2.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.7M
FINANCIAL BUILDING Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
2004
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
2
Rooms
10
Bathrooms
2
Lot
0.54 ac
Current owner
From public records · entity-resolved
69 Park LLC
Entity
Mailing address
PO BOX 825, NORTH ANDOVER, MA 01845-0825
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 22, 2024
$2,526,500
69 Park LLC
Eastern Bank
Deed
$2,101,200 · Eastern Bank
Sep 1, 2004
$1,800,000
Northmark Bk
Pam RT
Grant Deed
related
—
Feb 7, 2003
$836,800
Pam RT
Miller,samuel R JR
Grant Deed
$710,000 · Northmark Bank
Jul 3, 2002
—
Samuel Rulon-miller JR.
—
Deed Of Trust
related
$33,000 · First Essex Bank
Sep 1, 2000
—
Samuel Rulon Miller JR.
—
Deed Of Trust
related
$23,000 · First Essex Savings Bank
Oct 8, 1998
—
Samuel Rulon-miller JR.
—
Deed Of Trust
related
$10,000 · First Essex Savings Bank
Jul 6, 1998
—
Samuel Rulon-miller JR.
—
Deed Of Trust
related
$200,000 · Peoples Heritage
Jun 25, 1997
—
Sam Rulon-miller JR.
—
Deed Of Trust
related
$187,000 · Peoples Heritage
Dec 17, 1993
—
Sanuel Rulon-miller JR.
—
Deed Of Trust
related
$156,750 · Union Trust Mortgage Corp
Mar 4, 1992
$175,500
Samuel Rulon-miller JR.
Curtis,irene E
Grant Deed
$140,400 · New Fijol Ft
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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