790 Turnpike StNorth Andover, MA 01845

Property Details for 790 Turnpike St

Property size (Sq ft)

94,448 SF

Property type

Office properties

APN

NAND M:00098 B:D0008 L:00010

APU

NANDM00098BD0008L00010

Description

Jefferson Office Park, located at 790 & 800 Turnpike Street in North Andover, Massachusetts, offers 94,328 square feet of Class B office space. This multi-tenant property comprises four three-story buildings, built in 1986, and provides ample parking with 145 spaces. The park features executive office suites, with a minimum divisible space of 646 square feet and a maximum contiguous space of 5,359 square feet. Currently, there are 38,019 square feet of vacant space available. Recent improvements include updated lobbies, bathrooms, and a tenant-accessible conference center. The property enjoys a convenient location directly on Route 114, offering easy access to a variety of retail destinations within a 1.5-mile radius. Situated in Essex County, zip code 01845, this property presents a compelling opportunity for businesses seeking high-quality office space in a desirable location. The property is ideally suited for businesses seeking flexible space options ranging from smaller executive suites to larger contiguous spaces. The ample parking and updated amenities further enhance the appeal of this well-maintained office park.

• CAP approach

  CAP return

  Valuation

  6%

  $17,697,100

  6.5%

  $16,335,800

  7%

  $15,168,900

• Comparable approach

  Method

  Valuation

  Relative Method

  $12,340,600

  Geo Method

  $12,340,600

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $32,161,400

  Retail / Commercial

  $16,492,200

  Mixed-Use / Specialty

  $16,433,400

  Hospitality / Lodging

  $12,056,700

  Institutional / Educational

  $17,084,100

  Residential Income

  $19,988,400

  Multifamily

  $23,973,000

  Automotive / Energy

  $14,643,500

  Parking / Income-Based Land

  $5,053,300

  Restaurant / Food Service

  $8,547,140

  Healthcare / Senior Housing

  $16,852,100

Location Insight

City

North Andover

County

Essex

State

Massachusetts

Latitude

42.6607

Longitude

-71.1071

CBSA code

14460

CBSA name

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

Property Tax & Assessments

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