$300,000
●
Commercial -
Off Market
1 Elm Square #L91
Andover, MA 01810
Studio
1 Bath
1,472 Ft²
$2,543
Est. Monthly
$518
HOA / Fees
7.37%
Cap Rate
About This Property
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 lot of foot traffic
and limitless possibilities. Lower Level retail/office space with 3
rooms w/ large mirrors and a lobby/reception area. 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/Dance studio.
Unit Size
1,472 Ft²
Days on Market
-
Land Size
0.68 acres
Price per sqft
$204
Property Type
Commercial
Property Taxes
$551
HOA Dues
$518
Year Built
-
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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 #73223107)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Mar 27, 2026 | Sold | ||
| Sold | |||
| Feb 26, 2026 | In contract | - | |
| In contract | |||
| Dec 16, 2025 | Price Decreased |
$289,000
↓ $10K
(3.3%) | |
| Price Decreased | |||
| Nov 20, 2025 | Price Decreased |
$299,000
↓ $26K
(8%) | |
| Price Decreased | |||
| Jun 4, 2025 | Listed by Lillian Montalto Signature Properties | $325,000 | |
| Listed by Lillian Montalto Signature Properties | |||
  | |||
|
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 lot of foot traffic and limitless possibilities. Lower Level retail/office space with 3 rooms w/ large mirrors and a lobby/reception area. 3 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/Dance studio.
| |||
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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: $6,612
Location Details
HOA/Condo/Coop Fee Includes: Insurance, Maintenance Structure, Maintenance Grounds, Snow Removal, Trash
HOA/Condo/Coop Amenities: Elevator(s)
HOA Fee: $518
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