North Andover, MA Commercial Real Estate for Sale and Lease
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What to Expect
Situated about 25 miles of Boston, this Essex County town had a population of roughly 28,400 at the time of the 2010 U.S. Census. Regardless of whether you seek to buy or lease office, industrial or retail space, or if you're looking for commercial investment properties, our search feature allows you to cut to the chase quickly.
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Located 28 miles from Boston, this town of 28,352 in Essex County, Massachusetts, has 26.3 square miles of land within its city limits, giving it a modest urban density that makes it perfect for developers interested in creating innovative projects. Much of the land is occupied by natural scenery and small brooks, although it does possesses two distinct town centers, fittingly known as the Old Center and the newer center. The town also has a long historic lineage, with a series of “first period” houses built before 1720 acting as a must-see for architectural tourists and other visitors. The town voted in January 2018 to deny the proposal for a research facility for cannabis growing.
The largest green space in town is Lake Cochichewick, which occupies the city’s northeast region. Other green spaces include the Weir Hill Reservation, the Osgood Hill Reservation, the Reas Pond Conservation Area, the Harold Parker State Forest, the Charles W. Ward Reservation, the banks of the Merrimack River, and the Boxford State Forest. It is also home to Merrimack College, and several elite private schools.
The largest routes passing through town are Route 125, Route 133, and Route 114. The Lawrence Municipal Airport exists along the banks of the Merrimack River within the city limits, and provides service to small aircraft. While the MBTA Commuter Rail line does cross through town, the nearest station is located in neighboring Lawrence. Bus service throughout the region, both locally and to other neighboring cities, is provided by the Merrimack Valley Regional Transit Authority.
Commercial lots in this area are highly prized, and often come with permitted plans. The parcel at 1296 Osgood Street is located off Route 125 adjacent to the Lawrence Municipal Airport, and has 0.07 acres of commercially zoned land. The lot has been permitted for development of a 3,000 square foot bank pad. It is located adjacent to a luxury residential development of 192 units that is currently being constructed. The sale price for this property is $600,000. It is located next to another parcel at the same address of 0.92 acres, which is permitted for 23,000 square feet of retail, broken out into 8,200 square feet for two restaurant suites and 8,000 square feet of office space. The price for this parcel is $2,000,000.
The parcel at 643 Turnpike Street is located off Route 114 near Merrimack College, and has two pre-existing structures that can be removed in order to free up the land for a brand new retail development. The 1.53 acre lot is 2.8 miles from the nearest MBTA Commuter Rail line, and has a sale list price of $850,000.
Meanwhile, the parcel at 1210 Osgood Street is located off Route 125 near the airport, and features 6.7 acres of commercially zoned land. This particular lot is suited for a visionary investor who wants to develop the land without constraint. The sale list price for this property is $3,800,000.
Office Space Market
With a mixture of office parks and retrofitted homes and historic structures, the office space market in this town is varied. The complex at 1538 Turnpike Street sits at the top of a slight hill, and has four stories of professional office suites that overlook a parking lot. Landscaped shrubs dot the perimeter of the structure, and the building has a shared lobby space with bathrooms and furniture. Located off Route 114, the 20,000 square foot structure was built in 1980 and has suites between 250 square feet and 3,600 square feet. Built in 1980, the building has new windows, LED lighting, and an elevator. The estimated rent for this property is $0.83 a square foot per month.
The property at 820 Turnpike Street features a stately brick building with a covered front entryway, a wrap around parking lot, meticulously maintained lawn and shrubs, and large oval and rectangular windows on three floors. With 20,073 square feet, the building has suites of varying sizes available, some as small as 790 square feet. Built in 1983, the building has been thoroughly updated and is easily accessible via Route 114. The estimated rent for this property is $1.21 per square foot per month.
The property at 40-60 Beechwood Drive is a two story complex that is laid out in an L-shape around a parking lot. Two distinct structures comprise the complex, which has a total of 16,137 square feet. The available units come in sizes ranging from 1,119 square feet to 1,503 square feet. The structures are surrounded by natural woodlands, creating a serene exterior. The interiors feature vibrantly painted walls with drop tile ceilings, carpeted floors, staircases with polished wood banisters, vaulted ceilings with skylights, and professional bathrooms. The complex comes with an elegant lettered sign visible from the road, as well as exterior decks. Built in 1980, the estimated rent for this property ranges between $0.97 and $0.98 a square foot per month.
The neoclassical style building at 401 Andover Street has a brick exterior with windows that have green shutters. The entryway has a small triangular covering to provide shelter from the elements, and the building is surrounded by tall, manicured hedges and trees. A central reception area features carpeted flooring and recessed lighting, as well as a prominent staircase with landings and an elegant wooden banister. Located near the intersection of Route 125 and Route 133, this structure is very close to Merrimack College and has 16,260 square feet of total space. Units within this building have an average size of 2,100 square feet. The estimated rent for this property is $1.33 per square foot per month.
Retail Space Market
From relatively new retail complexes to refurbished historic structures, most retail spaces in this town are located close to easy parking. The retail complex at 247 Chickering Road is an example of a recent development; completed in 2018, the 16,115 square foot development features clean, well-lit interiors as well as a drive through option on one side. The entirety of the space is available to rent to one tenant, and can be configured for a variety of different uses, depending on the specific tenant needs. The estimated rent for this property has not been released.
The large freestanding complex at 350 Winthrop Avenue is located near Route 114 and Den Rock Park, and includes a massive onsite parking lot. With 92,878 square feet of leasable space, the structure is suited to big box tenants, although suites of 7,990 square feet are available. Built in 2002, the complex is 2.0 miles from the nearest MBTA Commuter Rail line station, and is surrounded by dense forest on three sides. The rent for this facility has not been disclosed.
Those seeking downtown retail space will be thrilled by the structure at 137-141 Main Street, which is sited in the heart of downtown near the Merrimack River. The 6,014 square foot space is located in a two story building that was originally built in 1858, and has since been thoroughly renovated. The brick and clapboard exterior provides room for large display windows on the ground floor and large banks of windows on the second floor, creating a bright, welcoming interior. Located on a corner lot on a highly trafficked street, the property has a number of small suites available for lease, including two 660 square foot suites and a 400 square foot suite. The estimated rent for this property is $0.91 to $2.00 a square foot per month.
The property at 550 Turnpike Street provides all the conveniences of a retail complex, including an onsite parking lot, large business signage, and easy access from Route 114. The complex is also close to Merrimack College, and has thirteen different units of varying sizes. With 24,000 square feet, the complex has an average suite size of 1,000 square feet. Built in 2000, the estimated rent for this property has not been released.
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