790 Turnpike StNorth Andover, MA 01845

  • Office properties
  • 94,448 SF
For Lease

Property Details for 790 Turnpike St

Property size (Sq ft)
94,448 SF
Property type
Office properties
Property subtype
Other 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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $15,615,076
    6.5%
    $14,413,916
    7%
    $13,384,350
  • Comparable approach

    Method
    Valuation
    Relative Method
    $12,340,576
    Geo Method
    $12,340,576
  • Alternative Use

    Use
    Valuation
    Residential
    $17,873,256
    Hospitality
    $16,371,806
    Educational
    $13,621,151
    Medical
    $14,089,603
    Retail
    $21,188,456
790 Turnpike St, North Andover, Massachusetts

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

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
$146,874
-
$9,415,000
$9,415,000
-
-
-
-

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