North Andover, MA
Commercial Real Estate Market Trends & Data

$229 Avg asking sale price
$22 Avg asking lease rate
9,933 SF Avg unit lease size
24,909 SF Avg building size for sale
8.59% Average cap rate

North Andover's Demographic Profile

North Andover has 11,861 households and a median income of $123,378, 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 32,343
# Households 11,861
Median age 40
Median household income $123,378
Avg household size 3.0
Renter-occupied housing units 3,415
5-year population change +1%

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

↻ Updated Monthly

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Nearby Retail Markets Avg Cost/SF Typical Size
North Andover $211 3,602 SF
Boxford $241 4,141 SF
Lawrence $182 4,541 SF
Middleton $476 8,930 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
North Andover $167 41,104 SF 9.17%
Lawrence $159 27,278 SF 9.17%

Commercial Properties For Sale in North Andover

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

159-167 S Union St

Lawrence, MA 01843

  • 15,000 SF Multifamily
  • 9.17% Cap Rate
  • $1,975,000
For Sale

75 Essex St

Andover, MA 01810

  • 2,169 SF Office Building
  • $649,900
For Sale

68 Park St

Andover, MA 01810

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

Great Pond Crossing Condominiums

North Andover, MA 01845

  • 18,057 SF Retail Building
  • $875,000

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

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Nearby Commercial Markets

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

Commercial Markets Avg Cost/SF Average Size
North Andover $229 24,909 SF
Lawrence $216 13,347 SF
Andover $298 27,128 SF
Middleton $457 15,893 SF

Multifamily Properties For Sale in North Andover

For Sale

ICONO Tower

Lawrence, MA 01840

  • 105,313 SF Multifamily
  • $2,975,000
For Sale

The Aberdeen

Andover, MA 01810

  • 33,420 SF Multifamily
  • $925,000

Regional Demographic Comparison

This comparison places North 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 North Andover or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
North Andover 32,343 11,861 40 $123,378 3 3,415 1%
Boxford 7,949 2,642 45 $188,830 3 115 -2%
Lawrence 80,035 26,239 35 $49,576 3 18,658 -4%
Andover 38,170 13,462 42 $155,864 3 3,285 1%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in North 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 North Andover

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

North 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 North Andover?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in North 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 North Andover?

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

How does North Andover compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to North 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 North Andover acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in North 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.

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