159 River RdAndover, MA 01810

Property Details for 159 River Rd

Year built

2020

Construction

STEEL FRAME

Property size (Sq ft)

4,540 SF

Zone code

ID2

Property type

Commercial real estate

APN

ANDO M:00166 B:00011 L:00003

APU

ANDOM00166B00011L00003

Description

This exceptional Class A retail property in Andover, MA, presents a compelling investment opportunity. Located at 159 River Rd, this 4,040 square foot, single-tenant building sits on a 4-acre lot and boasts a 100% occupancy rate with a credit-rated tenant under a NNN lease with 2% annual rent bumps. The lease commenced August 21, 2020, and has a remaining term of approximately 6 years, expiring November 30, 2030, with lease options for 2-5 years. The property features ample parking (50 spaces per 1,000 sq ft) and benefits from a highly visible location at the entrance to both Shattuck and Minuteman Office Parks, near I-93, and within a half-mile of six hotels. The property is zoned GB and was built in 2020. The asking price is $2,700,000, representing a 5.93% cap rate and a price per square foot of $668.32. The property's strong tenant, high visibility, and favorable lease terms make it an attractive investment for those seeking a stable, high-performing asset. The property is offered as a 1031 exchange opportunity. The Net Operating Income (NOI) is $160,199. This is a single-story building with a condo ownership structure. Nearby businesses include The Learning Experience and Boston Vision. The property is an end-cap location with street frontage.

• Alternative Use

  Use

  Valuation

  Residential

  $859,146

  Hospitality

  $786,973

  Educational

  $654,752

  Medical

  $677,270

  Retail

  $1,018,503

Location Insight

City

Andover

County

Essex

State

Massachusetts

Latitude

42.6894

Longitude

-71.2144

CBSA code

14460

CBSA name

BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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