Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    48 Central Sq Keene, NH 03431

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $399,000

    Three-story building in downtown Keene suitable for multiple uses.

    Lot size:
    0.03 Acres

    Property Features for 48 Central Sq

    General Information

    Lot size
    0.03 Acres

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    Bill Hutwelker
    Bill Hutwelker
    Source: Elliman

    Listing Agent: Bill Hutwelker

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Downtown Keene Mixed-Use Building

    Located on the square in vibrant downtown Keene, this three-story building is within walking distance of restaurants, theaters, retail stores, religious services, and governmental services. Currently used as an office building, it features multiple offices and a large conference room with windows facing the square. The upper floor was previously used for residential purposes and could potentially be returned to that use, subject to city approval. A full basement provides additional storage space. The property is suitable for office, retail, restaurant, and residential uses. It is located in a college town in tax-free New Hampshire.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Greater Monadnock Collaborative ... Business Service Center Heading For Home Housing Business Service Center

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Keene
    County
    Cheshire
    State
    New Hampshire
    Longitude
    -72.2791126
    Latitude
    42.9338007

    Nearby Similar for Sale

    • $500,000
      0.62 Acres

      Keene Commercial Property For Sale

      Commercial property in revitalizing area suitable for office, retail, or gym.
      233 Marlboro St, Keene, NH 03431
      View Details
    • $699,000
      0.38 Acres

      Downtown Keene Commercial Building For Sale

      Commercial building in downtown Keene with development potential and existing tenants.
      37-43 Emerald St, Keene, NH 03431
      View Details
    • New
      $225,000

      Keene Office Space For Sale

      Turnkey office space in downtown Keene with historic charm.
      16 Church St, Keene, NH 03431
      View Details
    • $8,500,000
      169,000 SF

      Keene Commercial/Industrial Opportunity

      Large-scale commercial/industrial property with redevelopment potential in Keene's business corridor.
      150 Congress St, Keene, NH 03431
      View Details
    • New
      $395,000
      2,490 SF

      Keene, NH Multi-Family Investment

      Well-maintained 3-unit property near downtown Keene with stable tenancy.
      50 Forest St, Keene, NH 03431
      View Details
    • $359,000
      1,575 SF

      Keene Investment Property Near College

      Two-family New Englander near Keene State College with strong rental appeal.
      35 Elliot St, Keene, NH 03431
      View Details
    • $1,049,900

      Mixed-Use Property in Downtown Keene

      Two-building mixed-use property with high visibility and flexible zoning.
      349 Washington Street Ext, Keene, NH 03431
      View Details
    • $950,000
      0.59 Acres

      Keene Multifamily Investment Opportunity

      Five buildings on one lot in desirable Keene neighborhood.
      28 Green St, Keene, NH 03431
      View Details
    • $457,000
      14,374.00 Acres

      Commercial Building Near Downtown Keene

      5,765 sq ft commercial building near downtown Keene, NH.
      66 Ralston St, Keene, NH 03431
      View Details
    • $599,000
      0.44 Acres

      Keene Restaurant Opportunity For Sale

      Two buildings on high-traffic street, formerly a restaurant and office.
      425 Winchester St, Keene, NH 03431
      View Details
    • $399,000
      0.15 Acres

      Keene Commercial Building For Sale

      Two-unit commercial building in high-traffic area suitable for office or retail.
      421 Winchester St, Keene, NH 03431
      View Details
    • $1,700,000
      0.90 Acres

      Keene Commercial Buildings For Sale

      Four buildings in Keene's Commerce zone with high visibility.
      421 Winchester St, Keene, NH 03431
      View Details

    FAQs

    What type of property is this?
    Office building - Three-story building in downtown Keene suitable for multiple uses.
    Where is this office building located?
    The property is located at 48 Central Sq Keene, NH.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: - Prime downtown Keene location on the square, offering walkability to restaurants, theatre, retail, and services.; - Versatile 3-story building suitable for office, retail, restaurant, or residential uses.; - Upper floor potentially convertible to residential use with city approval.
    (603) 313-3948
    Request Owner's contact information
    48 Central Sq Keene, NH 03431
    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.
    48 Central Sq
    Keene, NH 03431
    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
    48 Central Sq Keene, NH 03431
    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

    We can help!
    Listing Contact
    Bill Hutwelker
    Bill Hutwelker
    Real Estate License ID: #393709
    (603) 313-3948 (603) 625-2800 (833) 746-6479
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!