$375,000
●
Commercial -
Off Market
1 Elm Sq #1F
Andover, MA 01810
Studio
0 Bath
$469,540
RealtyHop Estimate
12.06%
Since Jan 1, 2022
MA-Boston
Primary Model
About This Property
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.
Unit Size
-
Days on Market
-
Land Size
0.68 acres
Price per sqft
-
Property Type
Commercial
Property Taxes
$665
HOA Dues
-
Year Built
-
Payment Calculator
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Cap Rate Calculator
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Monthly Rental Income
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Operating Profit Per Year
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: 4 months ago (MLSPIN #72760485)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 25, 2024 | Sold | ||
| Sold | |||
| Jul 31, 2024 | In contract | - | |
| In contract | |||
| Apr 11, 2024 | Listed by Lillian Montalto Signature Properties | $550,000 | |
| Listed by Lillian Montalto Signature Properties | |||
| | |||
|
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 limitless possibilities. This unit offers 2 office spaces. The 1st floor has 4 rooms plus a kitchen along with a private bathroom. This space is bright and energetic with a wall of windows, perfect for a productive day at work. Lots of additional space in the basement office with 4 rooms. 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.
| |||
| Dec 30, 2021 | Sold | ||
| Sold | |||
| Oct 26, 2020 | Listed by Land and Sea Real Estate, Inc. | $419,000 | |
| 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
Exterior Details
Year Built: 1966
Building Area Units: Square Feet
Lot Size Area: 0.68
Lot Size Units: Acres
Lot Size Acres: 0.68
Lot Size Square Feet: 29630
Financial Details
Tax Annual Amount: $7,979
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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