Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Salem NH First Floor Office Title is generated by Realmo AI

    21 Northwestern Dr, Salem, NH

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    2,400± SF office space with private entrance and amenities.

    Type:OFFICE
    Property size:
    2,400 SF
    Lot size:
    15.19 Acres
    Added:
    Aug 19, 2024
    Days on Market:
    656
    Last Refresh:
    May 20 at 8:22 pm

    Property Features for 21 Northwestern Dr

    General Information

    Standard status
    Active
    Size
    2,400 SF
    Lot size
    15.19 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 21 Northwestern Dr Contact us

    We can help!

    Listing Contact
    Christopher Healey
    Christopher Healey

    Listing agent Christopher Healey License ##062614

    Listing office The Boulos Company

    Listing date Aug 19, 2024

    Source Moodyscre

    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

    HighLights

    • Immediately off I‑93 at Exit 2, providing excellent accessibility.
    • 2,400± SF of first‑floor office space with a private entrance.
    • Includes (5) private offices, a conference room, and a kitchenette.
    • Features a reception area and open space configured with cubicles.
    • Located in a densely developed area with a mix of office, medical, industrial, and retail businesses.
    • Sizable storage room.

    Overview

    Available for lease is 2,400± SF of first-floor office space located at 21 Northwestern Drive in Salem, NH. The suite includes a private entrance, reception area, five offices, an open space configured with cubicles, a conference room, a kitchenette, restrooms, and a sizable storage room. The property is located immediately off Interstate 93 at Exit 2. Salem is located within a 5-minute drive from Massachusetts. The surrounding area is a densely developed corridor with office, medical, industrial, and retail users. Nearby amenities include hotels, dining, retail, daycare, fitness facilities, and a Boston Express transportation center.
    Property Profile Location Intelligence

    Current Use by Public Records

    Advanced Programs, Inc (Bike/Boat/Book/etc) Store Certified Homecare Consulting ... Home Health Care Service L.J. Smith Stair ... Industrial Manufacturer Dennesen Industrial LLC Bank

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Rockingham
    State
    New Hampshire
    Longitude
    -71.2651
    Latitude
    42.7767

    Nearby Similar for Lease

    • Contact for pricing

      Accessible Office Suite in Salem

      First-floor office suite with high visibility and easy access.
      59 Stiles Road, Salem, NH 03079
      View Details
    • $2,590/Mo
      2,590 SF

      Medical Office Space Available

      2590 SF medical office space for lease.
      31 Stiles Rd, Salem, NH 03079
      View Details
    • $625/Mo
      2,880 SF

      Retail Space in Eastpointe Plaza

      2,880 sq ft salon/spa space for rent.
      130 Main St, Salem, NH
      View Details
    • $15 SF/Yr
      24,595 SF

      Functional Office Space on Main

      Professionally designed office space in central Salem location for rent.
      224 Main St, Salem, NH 03079
      View Details
    • Contact for pricing

      Office Suite with Six Private Offices

      Suite offers six private offices, reception, and two bathrooms, with on-site parking and rent including heat and air conditioning.
      289 Main Street, Salem, NH 03079
      View Details
    • Contact for pricing

      Medical Office Suite with Reception

      ADA-accessible suite offers multiple private offices, reception, two bathrooms, and on-site parking for client convenience.
      289 Main Street, Salem, NH 03079
      View Details
    • Contact for pricing

      First-Floor Office Suite with Rear Entry

      Move-in ready first-floor suite with reception, consultation rooms, and private rear access with zero-step entry.
      289 Main Street, Salem, NH 03079
      View Details
    • $16 SF/Yr
      3,591 SF

      Highway Accessible Corner Office Space

      Office space with excellent highway access, demisable into smaller units.
      7 Stiles Rd, Salem, NH 03079
      View Details
    • $850/Mo
      850 SF

      Retail-Office Unit For Lease

      850+/- sq. ft. retail-office unit for lease.
      341 S Broadway, Salem, NH
      View Details
    • Contact for pricing
      5,200 SF

      Premium Class A Office Space

      Class A office space for lease with flexible options.
      103 Stiles Road, Salem, NH 03079
      View Details
    • $15 SF/Yr
      2,450 SF

      Salem Office Suite Sublease

      Professional office suite for sublease in Salem, NH.
      2 Manor Pkwy, Salem, NH
      View Details
    • $25 SF/Yr
      5,425 SF

      Professional Office Space For Lease

      5,425+/- sq ft professional office space for lease.
      25 Pelham Rd , Salem, NH
      View Details

    FAQs

    What type of property is this?
    Office units - 2,400± SF office space with private entrance and amenities.
    Where is this office units located?
    The property is located at 21 Northwestern Dr Salem, NH.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: Immediately off I‑93 at Exit 2, providing excellent accessibility.; 2,400± SF of first‑floor office space with a private entrance.; Includes (5) private offices, a conference room, and a kitchenette.
    (603) 475-1235 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Christopher Healey
    Christopher Healey
    Real Estate License ID: #062614
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    21 Northwestern Dr, Salem, NH
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!