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    240 Meriden Rd Lebanon, NH 03766

    View on Map
    Sponsored
    For Sale
    $1,600,000

    Commercial For Sale - Lebanon, NH

    Property size:
    3,700 SF
    Lot size:
    6.90 Acres
    Days on Market:
    34
    Last Refresh:
    Mar 25 at 4:06 am

    Property Features for 240 Meriden Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R-2 w/grandfather rights
    Rooms
    Basement
    Basement Y/N
    1
    Size
    3,700 SF
    Lot size
    6.90 Acres

    Building Details

    Year built
    1955
    Number of units
    3
    Roof type
    Membrane
    Architectural style
    Other

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    Listing Contact
    James Ward
    James Ward

    The Equity Group of New London, Inc.

    Listing agent James Ward

    Listing date Feb 19, 2026

    MLS# 5074880 Listing URL

    Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Versatile Commercial Property on 7 Acres

    This commercial property features offices, display areas, a showroom, repair facilities, and storage space. Situated on 7 acres, the property offers extensive road frontage, potentially allowing for subdivision into house lots or additional commercial buildings. The main building spans two levels, with 3700 square feet on the ground level suitable for office and product display, benefiting from good street visibility. The lower walk-out level provides an additional 1260 square feet for storage and repair purposes. A post and beam barn, in very good condition with drive-through access and good road visibility, offers 4800 square feet of unheated space. A separate repair/storage building provides 2160 square feet. All buildings are well-maintained, with newer roofs and heating systems. The property benefits from flexible grandfather use rights, allowing for multiple uses. It features 734 feet of frontage on Route 120 and 300 feet on Storrs Hill Road, along with ample paved parking. The property backs up to a natural area along Great Brook. According to the town map, no wetlands or flood plain are present. Located 2 miles south of the town center, the property is zoned R3, residential, with 100 feet of frontage and 40,000 square feet, suitable for a single-family home with an accessory dwelling unit, or conversion to a multi-tenant income property, with a projected 8% cap rate at market rates.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Keene Medical Products ... Medical Supply Store

    Suggested Use

    Law Firm Building Supply Spa & Massage Center Pharmacy Kitchen & Bath Showroom HVAC Service Plumbing Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lebanon
    County
    Grafton
    State
    New Hampshire
    Longitude
    -72.2341258
    Latitude
    43.6263287

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use commercial property with road frontage and multiple buildings.
    Where is this mixed-use property located?
    The property is located at 240 Meriden Rd Lebanon, NH.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: - Extensive road frontage (734 feet on Rt. 120, 300 feet on Storrs Hill Rd) suitable for subdivision or commercial buildings.; - Multiple buildings totaling over 11,000 sf with various uses. Main building, barn, and repair/storage building provide space for office, display, showroom, repairs, and storage.; - Flexible grandfather use rights allowing for multiple uses.
    (603) 448-8000
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    240 Meriden Rd Lebanon, NH 03766
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    Lebanon, NH 03766
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    240 Meriden Rd Lebanon, NH 03766
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    We can help!
    Listing Contact
    James Ward
    James Ward
    Real Estate License ID: 4786
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