Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    785 Turnpike St North Andover, MA 01845
    Back to Search
    Property profile & analytics

    785 Turnpike St, North Andover, MA 01845

    View on Map
    • Gas stations
    • 2,064 SF
    • 1.00 lot acres
    For Lease
    View Listing →
    North Andover Land Opportunity For Lease
    Contact for pricing

    North Andover Land Opportunity

    Land available for lease in North Andover, Massachusetts.

    785 Turnpike Street, North Andover, MA 1845
    View Listing
    Property ID
    US38-1142866
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • turnpike automotive - used cars - north andover ma dealer / Car Dealership
    • bp / Car Wash

    Property Details for 785 Turnpike St

    Year built
    1974
    Lot size
    1.00 lot acres
    Zone code
    GB
    Property type
    Gas stations
    APN
    NAND M:00098 B:D0009 L:00000
    APU
    NANDM00098BD0009L00000

    Description

    This exceptional 7,000 square foot retail property, located at 785 Turnpike Street in North Andover, Massachusetts, presents a unique investment or development opportunity. The property is situated in Essex County, offering convenient access to major roadways and a thriving local community. Currently vacant, the entire 7,000 square feet is available for immediate occupancy, providing a blank canvas for a variety of retail concepts. The single-tenant configuration allows for complete control and customization of the space. The property is classified as both retail and land, suggesting potential for expansion or redevelopment, subject to local zoning regulations. Its street retail subtype indicates high visibility and accessibility for customers. The zip code is 01845. This location in North Andover offers a strong demographic profile and significant potential for attracting a wide range of businesses. The property's size and location make it ideal for a variety of uses, from a flagship retail store to a multi-use commercial space. This is a rare opportunity to acquire a substantial retail property in a desirable Massachusetts location. Serious inquiries are encouraged to explore the possibilities this property offers. Further details regarding zoning and development potential are available upon request. The property is ready for immediate development or lease.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    North Andover
    County
    Essex
    State
    Massachusetts
    Longitude
    -71.1085
    Latitude
    42.6601
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $14,773
    $348,300
    $598,700
    $947,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,224 SF

      12 Massachusetts Ave

      SERVICE STATION (FULL SERVICE)
      12 Massachusetts Ave, North Andover, MA 01845-3413
      View Details
    • Value Estimation
      $970,000
      1,854 SF

      17 Massachusetts Ave

      SERVICE STATION (FULL SERVICE)
      17 Massachusetts Ave, North Andover, MA 01845-3412
      View Details
    • Value Estimation
      $1,110,000
      3,200 SF

      200 Sutton St

      SERVICE STATION (FULL SERVICE)
      200 Sutton St, North Andover, MA 01845-1656
      View Details
    • Value Estimation by Request
      1,664 SF

      1725 Tpke St

      SERVICE STATION (FULL SERVICE)
      1725 Tpke St, North Andover, MA 01845-6355
      View Details
    • Value Estimation
      $640,000
      3,744 SF

      1503 Osgood St

      SERVICE STATION (FULL SERVICE)
      1503 Osgood St, North Andover, MA 01845-1014
      View Details
    • Value Estimation by Request
      4,000 SF

      307 Clark St

      AUTO REPAIR, GARAGE
      307 Clark St, North Andover, MA 01845-1019
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Dealership and Auto Repair Business

      Commercial property with auto repair business and dealer license.
      1615 Osgood St, North Andover, MA 01845
      View Details
    • Contact for pricing

      Multi-Tenanted Building on Route 114

      30,000 SF building on 3.5 acres near major highways.
      2302 Turnpike St, North Andover, MA 01845
      View Details
    • Contact for pricing

      Retail/Office Condominium in North Andover

      Retail/office condominium space available in North Andover, Massachusetts.
      Andover, MA 01845
      View Details
    • Contact for pricing
      5,439 SF

      Modern Office/Retail Space Available

      Renovated office/retail space with high traffic exposure near major routes.
      989-995 Osgood St, North Andover, MA 01845
      View Details
    • Contact for pricing
      30,000 SF

      Mixed-Use Building on 3.5 Acres

      Multi-tenanted 30,000 SF building on Route 114.
      2302 Turnpike St, North Andover, MA 01845
      View Details
    • Contact for pricing

      Modern Office/Retail Space For Sale

      Class A office/retail space, renovated in 2023, high traffic location.
      989 Osgood St, North Andover, MA 01845
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      5,439 SF

      Renovated Retail/Office Condo For Lease

      5,439 SF Class A condo, renovated in 2023.
      989-995 Osgood St, North Andover, MA 01845
      View Details
    • Contact for pricing

      Renovated Retail/Office Condo For Lease

      5,439 SF Class A condo, renovated in 2023.
      989-995 Osgood St, North Andover, MA 01845
      View Details
    • Contact for pricing

      Established Retail Center For Lease

      Retail and service spaces available in established shopping center.
      554 Turnpike St, North Andover, MA 01845
      View Details
    • Contact for pricing
      11,084 SF

      North Andover Retail Space Available

      11,084 SF retail space for lease in North Andover.
      800 Waverley Rd, North Andover, MA 01845
      View Details
    • Contact for pricing

      Established Retail Shopping Center Space

      Retail and service center with high traffic volume.
      554 Turnpike St, North Andover, MA 01845
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail space available, offering 1,190 square feet.
      550 Turnpike St, North Andover, MA 01845
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    785 Turnpike St
    North Andover, MA 01845
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    785 Turnpike St, North Andover, MA, 01845
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!