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Most commerial real estate listings for lease are in the $30's per square foot per year. The Andover region is experiencing a decrease in rates. In the last 3 months, the median rate for lease decreased $14 per sqft per year.
Compared to the rest of the Greater Boston commercial real estate market, the Andover submarket has higher rates for rent, and you may need to pay a premium to be in this hot submarket.
In the last 90 days, 30 commercial real estate listings have been made available, which means new listings most likley are going fast. You'll want to be prepared to make an offer immediately. About 3% of the commercial real estate listings in the Andover are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard size for office space in this area is around 470 sqft. Most properties in this region are approximately 2 floors. Most buildings in this area were built close to 1905 and are Class C.
Real time and historical data on commercial real estate listings in Andover.
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