Retail Opportunity on Portsmouth
For Sale
$2,495,000
365 353 Portsmouth Avenue, Greenland, NH 03840
Two abutting properties with high visibility and road frontage.
Property Size4,639 SF
Lot Size1.80 Acres
Price / SF$537.83
Days on Market2497
Property Features for 365 353 Portsmouth Avenue
General Information
Standard status
Active
Size
4,639 SF
Lot size
1.80 Acres
Property subtype
Other
Building Details
Year Built
1920
Listing Agency:
Hunkins Real Estate Inc.
(603) 433-2690
Listed By:
Joseph Hunkins
Source:
Xome
Added: Oct 20, 2019
Changed: Jul 6
Last Checked: Aug 20 at 4:44AM
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 Hunkins Real Estate Inc.
Investment Insights
Based on property information with market context.
Two abutting properties are available, identified as R21-67 and R21-66. One lot currently houses the Suds-N-Soda store, while the other features a single-family home. The combined area of both lots is approximately 1.8 acres, offering about 1049 feet of road frontage on Route 33 and Portsmouth Avenue. The location benefits from high visibility and traffic at a controlled intersection, making it suitable for commercial real estate, retail spaces, and potentially a grocery or convenience store.
Key Highlights
- 1.8+\/- acre combined lot with 1049' of road frontage on Rt 33 and Portsmouth Avenue.
- Commercial C Zoning.
- High traffic location** at a controlled intersection with great visibility.
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
$88,244
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
3.54%
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%
$1,764,880
$1.8M
Cap Rate 7%
$1,260,629
$1.3M
Cap Rate 9%
$980,489
$980.5K
Market Conditions
NOI Build-Up for 4,639 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
$120.8K $26.04/SF
− Vacancy
−$3.1K −$0.68/SF
EGI
$117.7K $25.36/SF
− OpEx
−$29.4K −$6.34/SF
NOI
$88.2K $19.02/SF
Area
Rockingham County, NH
Vacancy
2.60%
Lease Rate
$26.04 /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%
$1,764,880
Cap Rate 7%
$1,260,629
Cap Rate 9%
$980,489
Alternative Uses
Best Use
Specialty Retail
$1.26M
$1.10M – $1.47M
NOI $88,244 @ 7.0% cap · market cap 3.54%
Second Best
Retail
$936.9K
$819.8K – $1.09M
NOI $65,582 @ 7.0% cap · market cap 2.63%
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $108,112 @ 7.0% cap · market cap 4.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
230
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 03840, NH
4,076
Population
1,686
Households
2.4
Avg Household Size
47
Median Age
53%
College-Educated
98%
High-School Grad
10.5 sq mi
ZIP Area
388
Density / Sq Mi
$147,132
Median Household Income
$69,375
Median Earnings
$1,890
Median Rent
$595,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Target Grocery — 1450 Greenland Rd Ste 1, Greenland, NH 03840
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Two abutting properties with high visibility and road frontage.
Where is this grocery and convenience store located?
The property is located at 365 353 Portsmouth Avenue Greenland, NH.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: 1.8+\/- acre combined lot with **1049' of road frontage** on Rt 33 and Portsmouth Avenue.; Commercial C Zoning.; High traffic location** at a controlled intersection with great visibility.
