$315,000
●
Commercial -
Off Market
1 Elm Square #1A2
Andover, MA 01810
Studio
1 Bath
992 Ft²
$2,585
Est. Monthly
$360
HOA / Fees
6.78%
Cap Rate
About This Property
1st floor Retail / Office Space in Downtown Andover steps away from
banks, shopping, restaurants, commuter rail and much more. This
Iconic building is at the center of everything with a lot of foot
traffic and limitless possibilities. Sunny and Spacious with a
vestibule, high ceilings, large windows, private room w/glass door
and storage closets. 2 parking spaces are included, and the
building features an elevator, handicap accessibility, and a FedEx
drop-off box. Don't miss the chance to own this desirable property
in a prime location. Currently used as a Yoga/Meditation studio.
Unit Size
992 Ft²
Days on Market
-
Land Size
0.68 acres
Price per sqft
$353
Property Type
Commercial
Property Taxes
$507
HOA Dues
$360
Year Built
-
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Cap Rate Calculator
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 2 years ago (MLSPIN #73223071)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Nov 20, 2024 | Sold | ||
| Sold | |||
| Jul 10, 2024 | In contract | - | |
| In contract | |||
| Apr 11, 2024 | Listed by Lillian Montalto Signature Properties | $350,000 | |
| Listed by Lillian Montalto Signature Properties | |||
| Dec 21, 2021 | Sold | ||
| Sold | |||
| Oct 26, 2020 | Listed by Land and Sea Real Estate, Inc. | $319,000 | |
| Listed by Land and Sea Real Estate, Inc. | |||
| | |||
|
Downtown Andover office condo in professional building for sale. Short distance to banks, shopping and restaurants. At the crossing of Main and Elm Street. Parking available.
| |||
Property Highlights
Elevator
Exterior Details
Building Area Units: Square Feet
Lot Size Area: 0.68
Lot Size Units: Acres
Lot Size Acres: 0.68
Zoning: GB
Parcel Number: 1837551
Financial Details
Tax Map Number: 38
Tax Annual Amount: $6,080
Location Details
HOA/Condo/Coop Fee Includes: Insurance, Maintenance Structure, Maintenance Grounds, Snow Removal, Trash
HOA/Condo/Coop Amenities: Elevator(s)
HOA Fee: $360
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
|---|---|---|---|---|---|---|---|
|
06/04/2025
|
Loft
|
-
|
1472 ft²
|
$325,000
Loft
-
1472 ft²
|
$273,542
-15.83%
03/27/2026
|
Team Lillian Montalto
Lillian Montalto Signature Properties
| |
|
04/11/2024
|
Loft
|
-
|
1695 ft²
|
$550,000
Loft
-
1695 ft²
|
$528,000
-4.00%
09/25/2024
|
Team Lillian Montalto
Lillian Montalto Signature Properties
| |
|
04/11/2024
|
Loft
|
1 Bath
|
992 ft²
|
$350,000
Loft
1 Bath
992 ft²
|
$315,000
-10.00%
11/20/2024
|
Team Lillian Montalto
Lillian Montalto Signature Properties
| |
|
04/11/2024
|
Loft
|
1 Bath
|
1472 ft²
|
$300,000
Loft
1 Bath
1472 ft²
|
-
-
|
Team Lillian Montalto
Lillian Montalto Signature Properties
| |
|
04/20/2023
|
Loft
|
-
|
-
|
$349,000
Loft
-
|
-
-
|
Laurence Marocco
Minco Commercial
| |
|
09/08/2021
|
Loft
|
-
|
-
|
$349,900
Loft
-
|
$315,000
-9.97%
12/21/2021
|
Land and Sea Real Estate
Land and Sea Real Estate, Inc.
| |
|
10/28/2020
|
Loft
|
-
|
-
|
$219,000
Loft
-
|
$175,000
-20.09%
12/28/2021
|
Land and Sea Real Estate
Land and Sea Real Estate, Inc.
| |
|
10/26/2020
|
Loft
|
-
|
-
|
$219,000
Loft
-
|
$207,000
-5.48%
03/04/2021
|
Land and Sea Real Estate
Land and Sea Real Estate, Inc.
| |
|
10/26/2020
|
Loft
|
-
|
-
|
$419,000
Loft
-
|
$375,000
-10.50%
12/30/2021
|
Land and Sea Real Estate
Land and Sea Real Estate, Inc.
| |
|
10/26/2020
|
Loft
|
-
|
-
|
$319,000
Loft
-
|
$300,000
-5.96%
12/21/2021
|
Land and Sea Real Estate
Land and Sea Real Estate, Inc.
| |
|
03/17/2010
|
Loft
|
-
|
-
|
$565,000
Loft
-
|
$550,000
-2.65%
04/01/2010
|
John Magazzu
RE/MAX Renaissance Inc.
| |
|
01/28/2009
|
Loft
|
1 Bath
|
2900 ft²
|
$699,000
Loft
1 Bath
2900 ft²
|
$450,000
-35.62%
09/30/2009
|
Sarkis H. Boyajian
Century 21 Avon
| |
|
03/17/2008
|
Loft
|
-
|
1330 ft²
|
$279,900
Loft
-
1330 ft²
|
$262,000
-6.40%
03/31/2008
|
Jeannette Belben
Coldwell Banker Realty - Andover
| |
|
04/29/2004
| |
Loft
|
-
|
-
|
$309,900
Loft
-
|
$300,000
-3.19%
07/14/2004
|
Tricia Melvin
Century 21 Mclennan & Company
|
|
03/08/2000
| |
Loft
|
-
|
1472 ft²
|
$139,900
Loft
-
1472 ft²
|
$130,000
-7.08%
10/18/2000
|
Virginia Broadhurst
Century 21 McLennan & Company
|
Building Info
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017