First-Floor Corner Office
New
For Sale
$750,000
1 Cate Street, Portsmouth, NH 03801
Brick walls and metal beams add architectural character to a quiet workplace.
Property Size2,420 SF
Price / SF$309.92
Days on Market6
Property Features for 1 Cate Street
General Information
Standard status
Active
Size
2,420 SF
Property subtype
Commercial
Additional Details
Floor
First Floor
Highway Access
Yes
Building Details
Year Built
1987
Construction
brick and metal beams
Listing Agency:
The Boulos Company
Listed By:
Christian Stallkamp
Source:
Aultcommercial
Added: Sep 8
Changed: Sep 12
Last Checked: Sep 12 at 9:32AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Boulos Company
Investment Insights
Based on property information with market context.
Built in 1987, this 2,420± SF office suite occupies a first-floor corner position with convenient access and a private working environment. Brick walls and metal beams bring distinctive architectural character, while expansive city views add visual interest to the workspace.
The property includes plenty of on-site parking and is positioned 5 minutes from downtown Portsmouth. I-95 and Route 16 are each approximately 1 mile away, providing access to the surrounding road network. The suite’s combination of floor-level accessibility, established construction, and distinctive interior elements supports a range of professional office uses.
The property includes plenty of on-site parking and is positioned 5 minutes from downtown Portsmouth. I-95 and Route 16 are each approximately 1 mile away, providing access to the surrounding road network. The suite’s combination of floor-level accessibility, established construction, and distinctive interior elements supports a range of professional office uses.
Key Highlights
- 2,420± SF office suite on the first floor
- Corner suite with brick walls and metal beams
- Expansive city views
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
$33,046
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
4.41%
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%
$660,920
$660.9K
Cap Rate 7%
$472,086
$472.1K
Cap Rate 9%
$367,178
$367.2K
Market Conditions
NOI Build-Up for 2,420 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
$50.8K $21.00/SF
− Vacancy
−$6.8K −$2.79/SF
EGI
$44.1K $18.21/SF
− OpEx
−$11.0K −$4.55/SF
NOI
$33.0K $13.66/SF
Area
Strafford County, NH
Vacancy
13.30%
Lease Rate
$21.00 /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%
$660,920
Cap Rate 7%
$472,086
Cap Rate 9%
$367,178
Alternative Uses
Best Use
Office B
$472.1K
$413.1K – $550.8K
NOI $33,046 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$647.4K
$566.5K – $755.3K
NOI $45,320 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,032
Businesses Nearby
Explore this area
Business Placement
Demographics for 03801, NH
22,767
Population
11,448
Households
2
Avg Household Size
43
Median Age
63%
College-Educated
98%
High-School Grad
23.8 sq mi
ZIP Area
957
Density / Sq Mi
$106,520
Median Household Income
$65,984
Median Earnings
$1,783
Median Rent
$647,500
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office units - Brick walls and metal beams add architectural character to a quiet workplace.
Where is this office units located?
The property is located at 1 Cate Street Portsmouth, NH.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2,420± SF office suite on the first floor; Corner suite with brick walls and metal beams; Expansive city views
