Andover, MA
Commercial Real Estate Market Trends & Data

$290 Avg asking sale price
$25 Avg asking lease rate
22,938 SF Avg unit lease size
27,563 SF Avg building size for sale
6.00% Average cap rate

Andover's Demographic Profile

Andover has 13,462 households and a median income of $155,864, providing context for rent absorption and tenant demand across retail and multifamily assets. A +1% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 38,170
# Households 13,462
Median age 42
Median household income $155,864
Avg household size 3.0
Renter-occupied housing units 3,285
5-year population change +1%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Andover, MA

↻ Updated Monthly

{{marketTabDescriptions[activeMarketTab]}}

Nearby Retail Markets Avg Cost/SF Typical Size
Lawrence $196 4,541 SF
Tewksbury $438 6,204 SF
North Andover $231 3,737 SF
Methuen $119 4,928 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Lawrence $132 30,759 SF 9.17%
North Andover $132 42,560 SF 9.17%
Methuen $122 34,699 SF 7.02%

Commercial Properties For Sale in Andover

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

890 East St

Tewksbury, MA 01876

  • 62,596 SF Flex Building
  • $9,450,000
For Sale

223 Winthrop Ave

Lawrence, MA 01843

  • 12,266 SF Industrial Building
  • $1,300,000
For Sale

Unit 150 & 160

North Andover, MA 01845

  • 54,564 SF Office Building
  • $215,000
For Sale

75 Essex St

Andover, MA 01810

  • 2,169 SF Office Building
  • $749,900
For Sale

68 Park St

Andover, MA 01810

  • 2,960 SF Office Building
  • $1,349,000
For Sale

Auto Body / Flex Industrial Property for Sale

Lawrence, MA 01843

  • 5,220 SF Industrial Building
  • $1,150,000

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

How Investors Evaluate Commercial Real Estate Markets

5 Key Questions About Note/Loan Sales, Answered
5 Key Questions About Note/Loan Sales, Answered
An Expert Broker Provides Guidance on Advantages, Disadvantages and Expected Returns
What is a Multifamily Home?
What is a Multifamily Home?
What is a multifamily home? Clear definition, types, how small assets differ from large for financing, metrics, plus basics of zoning, fair housing, and risks.
The Best Cities for Office Investing in 2026
The Best Cities for Office Investing in 2026
A data-driven ranking of 50 U.S. markets scored on yield, inventory, office employment trends, and building quality.
Understanding Your Property’s Walk Score
Understanding Your Property’s Walk Score
Learn about the Amenities, Data and Calculations Used to Generate Your Property’s Walk Score
Loan to Value
Loan to Value
Breaking down the loan to value concept, its calculations, and strategic financing options to enhance investment decisions in commercial real estate.
Internal Rate of Return
Internal Rate of Return
Clarifying IRR concepts, outlines calculation methods, and examining its application in commercial real estate to guide your investment decisions.
Operating Expenses in CRE
Operating Expenses in CRE
Learn how operating expenses affect net operating income and property value, how to benchmark your costs against market standards, and proven strategies to reduce expenses across different property types and lease structures.
Land Loans 101
Land Loans 101
Key Considerations When Applying for a Land Loan

Nearby Commercial Markets

Comparing nearby markets helps investors see whether Andover pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Andover $290 27,563 SF
Lawrence $204 13,560 SF
Tewksbury $299 34,285 SF
North Andover $230 24,201 SF
Methuen $191 33,269 SF

Regional Demographic Comparison

This comparison places Andover alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Andover or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Andover 38,170 13,462 42 $155,864 3 3,285 1%
Lawrence 80,035 26,239 35 $49,576 3 18,658 -4%
Tewksbury 31,126 11,650 46 $114,033 3 2,066 -1%
North Andover 32,343 11,861 40 $123,378 3 3,415 1%
Methuen 52,170 18,855 42 $91,911 3 5,536 -1%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Andover, MA and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Andover

View All Commercial Real Estate For Sale in Andover
Is Andover a good market for a first-time commercial real estate investor?

Andover offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Andover?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Andover. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Andover?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Andover. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Andover compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Andover. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Andover acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Andover, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

Nearby Cities
Commercial Market Reports