Office Condominium
For Sale
Contact for pricing
124 Bedford Center Road, Bedford, NH 03110
Three office units offer private offices, conference rooms, support areas, restrooms, and on-site parking.
Property Size4,820 SF
Price / SF$280.08
Days on Market19
Property Features for 124 Bedford Center Road
General Information
Standard status
Active
Size
4,820 SF
Class
B
Property subtype
Office
Zoning
Commercial (CO)
Building Details
Year Built
2012
Units
3
Tenancy
Multi
Listing Agency:
Colliers - Manchester, New Hampshire
Listed By:
Laura Nesmith · License #NH 059772
(603) 623-0100
Source:
Crexi
Added: Aug 21
Changed: Sep 8
Last Checked: Sep 7 at 4:28AM
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 Colliers - Manchester, New Hampshire
Investment Insights
Based on property information with market context.
This sale includes three office condominium units within a professional office building in Bedford, NH. Units C and D1 contain 3,539± SF and are leased to Primary Bank through June 30, 2028. Unit D2 adds 1,281± SF and is vacant, bringing the combined area to 4,820± SF.
The space has two separate entrances and a practical office layout with 10 private offices, two conference rooms, a large bullpen, a small open area, IT and mechanical rooms, storage and supply rooms, a break room, and multiple restrooms. Ample on-site parking supports the property, which is located along Route 101.
The space has two separate entrances and a practical office layout with 10 private offices, two conference rooms, a large bullpen, a small open area, IT and mechanical rooms, storage and supply rooms, a break room, and multiple restrooms. Ample on-site parking supports the property, which is located along Route 101.
Key Highlights
- Three office condominiums offered together totaling 4,820± SF
- Units C and D1 encompass 3,539± SF and are leased through June 30, 2028
- Unit D2 contains 1,281± SF and is vacant
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
$84,624
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
6.27%
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%
$1,692,480
$1.7M
Cap Rate 7%
$1,208,914
$1.2M
Cap Rate 9%
$940,267
$940.3K
Market Conditions
NOI Build-Up for 4,820 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
$130.1K $27.00/SF
− Vacancy
−$17.3K −$3.59/SF
EGI
$112.8K $23.41/SF
− OpEx
−$28.2K −$5.85/SF
NOI
$84.6K $17.56/SF
Area
Hillsborough County, NH
Vacancy
13.30%
Lease Rate
$27.00 /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%
$1,692,480
Cap Rate 7%
$1,208,914
Cap Rate 9%
$940,267
Alternative Uses
Best Use
Office B
$1.21M
$1.06M – $1.41M
NOI $84,624 @ 7.0% cap · market cap 6.27%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.83M
$7.73M – $10.30M
NOI $618,165 @ 7.0% cap · market cap 45.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
Explore this area
Business Placement
Demographics for 03110, NH
23,322
Population
8,185
Households
2.8
Avg Household Size
44
Median Age
61%
College-Educated
97%
High-School Grad
32.8 sq mi
ZIP Area
711
Density / Sq Mi
$160,253
Median Household Income
$70,344
Median Earnings
$1,913
Median Rent
$582,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Three office units offer private offices, conference rooms, support areas, restrooms, and on-site parking.
Where is this office units located?
The property is located at 124 Bedford Center Road Bedford, NH.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Three office condominiums offered together totaling 4,820± SF; Units C and D1 encompass 3,539± SF and are leased through June 30, 2028; Unit D2 contains 1,281± SF and is vacant
