Flex Unit with Overhead
For Sale
$519,900
288 Hounsell Avenue, Gilford, NH 03249
Commercial Sale, Gilford, NH
Property Size1,500 SF
Price / SF$346.60
Days on Market123
Property Features for 288 Hounsell Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning
I
Subdivision
Granite Ridge
Lot features
Condo Development, Level, Neighbor Business
Directions
From Gilford Ave: turn onto Hounsell Ave across from Piche's and continue about half a mile - Granite Ridge will be on your right.
Standard status
Active
Taxes and HOA fees
Tax Year
2025
Utilities
Utilities
Cable Available
Heating system
Propane (Heating)
Water source
Public
Amenities
private entrance
dedicated office area
restroom
overhead door
fiber optic connectivity
Building Details
Year built
2026
Building materials
Steel Frame
Roof type
Metal
Listing Agency:
KW Coastal and Lakes & Mountains Realty/Meredith · Keller Williams Realty
(603) 569-4663
Listed By:
Shannon Casey · License #072839
(603) 610-8500
Added: Apr 30
Changed: Aug 24
Last Checked: Aug 30 at 8:06PM
MLS# 5086390
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.
Investment Insights
Based on property information with market context.
Building 6 at Granite Ridge is an approximately 1,500-square-foot flex condominium under construction. The unit combines a private entrance, dedicated office, restroom, open bay, and 10-foot overhead door. Steel-frame construction, a metal roof, propane heat, and public water support the building’s physical configuration. The space is suited to office, warehouse, storage, workshop, and inventory functions described for the property.
The professionally engineered campus is located in Gilford’s commercial district at 288 Hounsell Avenue. Site infrastructure includes town water and sewer, underground utilities, 3-phase power, propane heat, and fiber optic connectivity. Cable is available, and the property is positioned within minutes of Lake Winnipesaukee and Gunstock Mountain Resort. The unit is offered for sale as part of a commercial condominium community.
The professionally engineered campus is located in Gilford’s commercial district at 288 Hounsell Avenue. Site infrastructure includes town water and sewer, underground utilities, 3-phase power, propane heat, and fiber optic connectivity. Cable is available, and the property is positioned within minutes of Lake Winnipesaukee and Gunstock Mountain Resort. The unit is offered for sale as part of a commercial condominium community.
Key Highlights
- Approximately 1,500‑square‑foot flex condominium unit in Building 6
- 10‑foot overhead door serving the open bay
- Private entrance, dedicated office, restroom, and warehouse area
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
$19,898
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
3.83%
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%
$397,960
$398.0K
Cap Rate 7%
$284,257
$284.3K
Cap Rate 9%
$221,089
$221.1K
Market Conditions
NOI Build-Up for 1,500 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
$30.6K $20.40/SF
− Vacancy
−$4.1K −$2.71/SF
EGI
$26.5K $17.69/SF
− OpEx
−$6.6K −$4.42/SF
NOI
$19.9K $13.27/SF
Area
Belknap County, NH
Vacancy
13.30%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
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%
$397,960
Cap Rate 7%
$284,257
Cap Rate 9%
$221,089
Alternative Uses
Best Use
Office B
$284.3K
$248.7K – $331.6K
NOI $19,898 @ 7.0% cap · market cap 3.83%
Second Best
Flex RnD
$245.5K
$214.8K – $286.4K
NOI $17,185 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$356.7K
$312.1K – $416.2K
NOI $24,970 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
259
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 03249, NH
7,698
Population
5,012
Households
1.5
Avg Household Size
52
Median Age
43%
College-Educated
96%
High-School Grad
38.8 sq mi
ZIP Area
198
Density / Sq Mi
$115,423
Median Household Income
$59,126
Median Earnings
$1,308
Median Rent
$388,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Under-construction commercial condominium combining private office, warehouse, and storage areas with a dedicated entrance.
Where is this flex space located?
The property is located at 288 Hounsell Avenue Gilford, NH.
What is the asking price?
The asking price for this property is $519,900.
What are key features of this property?
This property features: Approximately 1,500‑square‑foot flex condominium unit in Building 6; 10‑foot overhead door serving the open bay; Private entrance, dedicated office, restroom, and warehouse area
