Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$11,005,000
Assisted living facilities
89 Morton St Andover, MA 01810-2036
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US38-0375157
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1967
Construction
STEEL FRAME
Total area
66,400 SF
Lot
3.13 ac (136,343 SF)
Zoning code
SRA
APN
ANDO M:00022 B:00098 L:00000
UPID
US38-0375157
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
-
Aileen Corrigan, OTA Physician
-
Andover Manor Rehab and Nursing Nursing Home
-
Laura Mcbride Physician
-
Robin Cohn Physician
-
Patricia Igbinosa Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.54M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$11.01M
Owner & transaction history
Andover Manor Propco LLC · 2 yrs held
Andover Manor Propco LLC
since 2023
Last sale
$11.1M
7 recorded transactions
Zoning & alternative use
SRA · Andover, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this district is to provide single family residential uses
Zone name
Single Residence A Zoning District
General category
RESIDENTIAL
Zone area
1,478.03 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$14.2M
+301.8%
Office building
$11.3M
+220.0%
Restaurant
$10.9M
+207.9%
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
$10,845,000
ML approach
$8,540,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$14,180,000
Change: +302% · Conversion: Difficult
OFFICE BUILDING
$11,290,000
Change: +220% · Conversion: Difficult
RESTAURANT
$10,865,000
Change: +208% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$8,745,000
Change: +148% · Conversion: Difficult
AUTO REPAIR, GARAGE
$8,580,000
Change: +143% · Conversion: Difficult
Blend value · Realmo final
$11.01M
Range $9.90M – $12.11M · ±10% · vs last sale $11.09M (Oct 20 2023)
Last sale anchor
$11.09M
Oct 20 2023
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
$166 / 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
$119,626
Tax year 2024
Assessed value
$4,694,900
Assessed 2024
Previous assessed
$4,594,100
+2.2% YoY
Effective rate
2.55%
On assessed value
Assessed land
$1,110,300
Assessed improvement
$3,584,600
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1967
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
174
Rooms
17
Bathrooms
125
Total area
66,400 SF
Lot
3.13 ac (136,343 SF)
Zoning code
SRA
APN
ANDO M:00022 B:00098 L:00000
UPID
US38-0375157
Jurisdiction
ANDOVER
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
SRA · Andover, MAZoning SRA · permitted uses
SRA · Andover, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of this district is to provide single family residential uses
Zone name
Single Residence A Zoning District
General category
RESIDENTIAL
Zone area
1,478.03 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$14.2M
OFFICE BUILDING
Est. value
$11.3M
RESTAURANT
Est. value
$10.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.7M
AUTO REPAIR, GARAGE
Est. value
$8.6M
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
1967
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
174
Rooms
17
Bathrooms
125
Lot
3.13 ac
Current owner
From public records · entity-resolved
Andover Manor Propco LLC
Entity
Mailing address
89 MORTON ST, ANDOVER, MA 01810-2036
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2025
—
Andover Manor Propco LLC
—
Deed
related
$14,400,000 · X-caliber Capital LLC
Oct 20, 2023
$11,088,000
Andover Manor Propco LLC
Lg-ohi Andover LLC
Quit Claim Arm's Length For Ne States
$45,000,000 · Israel Discount Bank
Sep 24, 2019
—
Lg Ohi Andover LLC
—
Deed
related
$240,900,000 · White Oak Healthcare
Nov 7, 2016
$14,329,662
Lg Ohi Andover LLC
Academy Nursing Home INC
Quit Claim Deed
$535,000,000 · Morgan Stanley &
Jan 13, 2004
—
Academy Nursing Home INC
—
Deed Of Trust
related
$260,000,000 · Wachovia Bank NA
Oct 24, 2001
—
Academy Nursing Home
—
Deed Of Trust
related
$757,605,000 · First Union National Bank
Oct 21, 1997
$11,500,000
Academy Nursing Home
Selco Service Corp
Grant Deed
—
Mar 13, 1996
—
Academy Rlty Assoc
—
Deed Of Trust
related
$1,340,000 · Northmark Bank
Jun 3, 1988
—
Academy Rlty Assocs
—
Deed Of Trust
related
$1,175,000 · Bank Of Ne North
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 89 Morton St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
