For Sale
$775,000
16 Railroad Avenue, Lebanon, NH 03784
Lebanon, NH
Property Size2,878 SF
Price / SF$269.28
Days on Market100
Property Features for 16 Railroad Avenue
General Information
Property type
Residential Multi Family
Property subtype
Single Family Attached
Standard status
Active
Size
2,878 SF
Building Details
Year built
1968
Listing Agency:
Keene, New Hampshire · Better Homes and Gardens Real Estate
(603) 352-5433
Listed By:
Ara Cardew
(603) 653-8490
Added: May 19
Changed: Aug 25
Last Checked: Aug 26 at 5:06PM
MLS# 5088349
Copyright © 2026 Better Homes and Gardens-The Masiello Group. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,678
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.96%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$613,560
$613.6K
Cap Rate 7%
$438,257
$438.3K
Cap Rate 9%
$340,867
$340.9K
Market Conditions
NOI Build-Up for 2,878 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$46.6K $16.20/SF
− Vacancy
−$2.8K −$0.97/SF
EGI
$43.8K $15.23/SF
− OpEx
−$13.1K −$4.57/SF
NOI
$30.7K $10.66/SF
Area
Grafton County, NH
Vacancy
6.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$613,560
Cap Rate 7%
$438,257
Cap Rate 9%
$340,867
Alternative Uses
Best Use
Retail
$438.3K
$383.5K – $511.3K
NOI $30,678 @ 7.0% cap · market cap 3.96%
Second Best
Apartment 5plus
$373.8K
$327.1K – $436.1K
NOI $26,165 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$633.1K
$553.9K – $738.6K
NOI $44,315 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
527
Businesses Nearby
25k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Circle K
Shops & Services
11,396 visits/mo
0.2 miles
Mobil
Shops & Services
6,570 visits/mo
0.2 miles
Advance Auto Parts
Shops & Services
4,077 visits/mo
0.1 miles
VIP Tires & Service
Shops & Services
1,564 visits/mo
0.1 miles
Batteries Plus Bulbs
Shops & Services
880 visits/mo
0.1 miles
Demographics for 03784, NH
4,444
Population
2,168
Households
2
Avg Household Size
39
Median Age
61%
College-Educated
95%
High-School Grad
8.3 sq mi
ZIP Area
535
Density / Sq Mi
$84,303
Median Household Income
$49,175
Median Earnings
$1,547
Median Rent
$340,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
Where is this retail space located?
The property is located at 16 Railroad Avenue Lebanon, NH.
What is the asking price?
The asking price for this property is $775,000.
