1591 Osgood StNorth Andover, MA 01845

  • Retail properties
  • 3,344 SF
For Sale
$2,750,000 View listing

Property Details for 1591 Osgood St

Year built
1950
Lot size
2.85 AC
Property size (Sq ft)
3,344 SF
Zone code
IS
Property type
Retail properties
Property subtype
Turn key restaurants
APN
NAND M:00034 B:00004 L:00000
APU
NANDM00034B00004L00000

Description

Exceptional investment opportunity in North Andover, MA, encompassing a 2.846-acre parcel zoned IS. This property features two established, currently operating businesses: Jimmy's Famous Pizza and The Cork Stop. The asking price is $2,750,000. The location offers unparalleled visibility and accessibility, situated directly across the street from a newly opened, 3.8-million-square-foot Amazon e-commerce, warehouse, and distribution facility on a 110-acre lot. This strategic positioning provides significant advantages for future growth and profitability. The property consists of two units and presents a unique chance to acquire established businesses alongside a substantial land holding. The high-traffic location, coupled with the proximity to a major e-commerce hub, creates a compelling investment proposition with significant potential for long-term returns. This is a rare opportunity to own a thriving commercial property in a rapidly developing area. The property's two existing businesses offer immediate cash flow, while the expansive land provides ample room for expansion or future development. Detailed financial information and operational data are available upon request. Don't miss this chance to secure a prime commercial asset in a high-growth market.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $812,709
    6.5%
    $750,193
    7%
    $696,608
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,101,056
    Geo Method
    $1,101,056
  • Alternative Use

    Use
    Valuation
    Residential
    $632,816
    Hospitality
    $579,656
    Educational
    $482,267
    Medical
    $498,853
    Retail
    $750,193
1591 Osgood St, North Andover, Massachusetts

Location Insight

City
North Andover
County
Essex
State
Massachusetts
Latitude
42.7327
Longitude
-71.1123
CBSA code
14460
CBSA name
BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$13,160
$338,000
$505,600
$843,600
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