109 Main StNorth Andover, MA 01845

Property Details for 109 Main St

Year built

1967

Lot size

3.35 AC

Property size (Sq ft)

46,104 SF

Zone code

GB

Property type

Super regional malls

APN

NAND M:00029 B:00048 L:00000

APU

NANDM00029B00048L00000

Description

First & Main, located at 109 Main St, North Andover, MA 01845, presents a unique opportunity for businesses seeking versatile office space in a thriving downtown location. This Class B building, constructed in 1967 and renovated in 1990, offers a total of 46,104 square feet across two stories. The property features 11 suites, with a minimum divisible space of 5,779 square feet and a maximum contiguous space of 12,780 square feet. Currently, 10,904 square feet are vacant, offering significant potential for expansion or lease acquisition. The building boasts a 16-foot ceiling height and ample parking with 180 spaces. Utilities include 400 Amp 3-phase power. The 3.35-acre lot is zoned for retail use, reflecting the vibrant commercial environment of the surrounding area. First & Main is situated in the heart of downtown North Andover, near established businesses such as CVS, a wine and spirits store, a restaurant, and various other retail establishments. This property offers a blend of traditional and creative office spaces, also suitable for medical office use, making it an ideal location for a variety of businesses. The building's central location and diverse tenant mix create a dynamic and convenient environment for businesses of all sizes. One retail space of 11,859 square feet is available, subdividable to 4,835 square feet, with an additional 955 square foot mezzanine and 6,069 square feet.

• CAP approach

  CAP return

  Valuation

  6%

  $11,204,881

  6.5%

  $10,342,967

  7%

  $9,604,184

• Comparable approach

  Method

  Valuation

  Relative Method

  $15,180,351

  Geo Method

  $15,180,351

• Alternative Use

  Use

  Valuation

  Residential

  $8,724,680

  Hospitality

  $7,991,760

  Educational

  $6,649,050

  Medical

  $6,877,722

  Retail

  $10,342,967

Location Insight

City

North Andover

County

Essex

State

Massachusetts

Latitude

42.7026

Longitude

-71.132

CBSA code

14460

CBSA name

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

Property Tax & Assessments

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