Building Details

Year Built 1975

Listing Agency: Colliers International Show Phone

Listed By: Abby Bachman · License #Abby Bachman Show Phone

Source: Longviewcre

Added: Jul 29 Changed: Oct 28 Last Checked: Oct 28 at 4:19PM

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Investment Insights

Based on property information with market context.

Portsmouth Industrial Park contains multiple industrial units ranging from 3,000± to 9,000± SF, with warehouse clear heights of 13’5”±. Unit 6 totals 6,055± SF and includes a showroom, 2 offices, a breakroom, 2 restrooms, 1 loading dock, and 1 drive-in door. Unit 9 measures 6,000± SF and has 1 loading dock. Units 11–12 range from 3,000± to 9,000± SF, with office space, a private restroom, a wet sprinkler system, and 1 loading dock per unit.

Allowed uses include warehouse, distribution, wholesale, and light manufacturing. The property has on-site parking and access to I-95 and Route 1.

Key Highlights

• Multiple units range from 3,000± to 9,000± SF
• Warehouse clear height of 13’5”±
• Unit 6: 6,055± SF with showroom, 2 offices, breakroom, 2 restrooms, 1 loading dock, and 1 drive‑in door

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$479,015

Suggested Prices Based on Cap Rates

Cap Rate 5%

$9,580,300 $9.6M

Cap Rate 7%

$6,843,071 $6.8M

Cap Rate 9%

$5,322,389 $5.3M

What to ask about pricing

Market Conditions

NOI Build-Up for 77,451 SF

Gross rent

$734.2K $9.48/SF

− Vacancy

−$49.9K −$0.64/SF

EGI

$684.3K $8.84/SF

− OpEx

−$205.3K −$2.65/SF

NOI

$479.0K $6.18/SF

Area

Rockingham County, NH

Vacancy

6.80%

Lease Rate

$9.48 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$9,580,300

Cap Rate 7%

$6,843,071

Cap Rate 9%

$5,322,389

Alternative Uses

Best Use

Flex RnD

$12.68M

$11.10M – $14.79M (±1% cap)

NOI $887,691 @ 7.0% cap · market cap 6,340,650.00%

Second Best

Warehouse

$8.08M

$7.07M – $9.43M (±1% cap)

NOI $565,577 @ 7.0% cap · market cap 4,039,835.71%

Theoretical Best

Office A

$25.79M

$22.56M – $30.08M (±1% cap)

NOI $1,804,992 @ 7.0% cap · market cap 12,892,800.00%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Left Bank Films Film Production Origin Micro Inc Electronics & Wireless Store ENTAKT LLC Machine Maintenance Service PACE Business Operating ... (Bike/Boat/Book/etc) Store Autopart International Auto Parts Store

Suggested Use

Top Pick Real Estate Agency Law Firm Hair Salon Grocery & Convenience Store Spa & Massage Center Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

384

Businesses Nearby

Balanced

Demand for This Use

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

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Multiple unit configurations combine warehouse space with office or showroom areas and loading access.

Where is this flex space located?

The property is located at 124 Heritage Avenue Portsmouth, NH.

What are key features of this property?

This property features: Multiple units range from 3,000± to 9,000± SF; Warehouse clear height of 13’5”±; Unit 6: 6,055± SF with showroom, 2 offices, breakroom, 2 restrooms, 1 loading dock, and 1 drive‑in door