NNN Retail Investment
New
For Sale
$4,877,000
125 Washington Street, Rochester, NH 03839
NNN lease runs through December 31, 2031, with landlord obligations focused primarily on roof and structural repairs.
Property Size20,388 SF
Price / SF$239.21
Days on Market4
Property Features for 125 Washington Street
General Information
Standard status
Active
Size
20,388 SF
Property subtype
Retail
Zoning
HC: Highway Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
20,388 SF
Year Built
2008
Tenancy
Single
Listing Agency:
SRS Real Estate Partners - Los Angeles
(303) 884-6659
Listed By:
Steven Roberts
(303) 884-6659
Source:
Srsre
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 4:39AM
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 SRS Real Estate Partners - Los Angeles
Investment Insights
Based on property information with market context.
This 20,388-square-foot retail property in Rochester is occupied by Staples under an NNN lease extending through December 31, 2031. The tenant has exercised its final five-year renewal option, and the lease reimburses the landlord’s pro-rata share of CAM, real estate taxes, and insurance. Owner responsibilities are primarily limited to roof and structural repairs. An on-site ATM pad lease provides an additional rental-income stream.
The property is located at 125 Washington Street along Route 202 and has access to Spaulding Turnpike, Route 16. The routes serve a combined 50,000+ vehicles per day. The site is adjacent to Rochester Crossing, a regional power center anchored by Lowe’s and Kohl’s, with additional national retailers including PetSmart, Dollar Tree, Mattress Firm, Buffalo Wild Wings, GameStop, Verizon, and IHOP. The property is zoned HC: Highway Commercial, is undergoing a parcel subdivision, and was built in 2008.
The property is located at 125 Washington Street along Route 202 and has access to Spaulding Turnpike, Route 16. The routes serve a combined 50,000+ vehicles per day. The site is adjacent to Rochester Crossing, a regional power center anchored by Lowe’s and Kohl’s, with additional national retailers including PetSmart, Dollar Tree, Mattress Firm, Buffalo Wild Wings, GameStop, Verizon, and IHOP. The property is zoned HC: Highway Commercial, is undergoing a parcel subdivision, and was built in 2008.
Key Highlights
- Staples lease extends through December 31, 2031, following exercise of the final five‑year renewal option
- 20,388‑square‑foot retail property built in 2008
- NNN lease reimburses the landlord’s pro‑rata share of CAM, real estate taxes, and insurance
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
$247,127
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
5.07%
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%
$4,942,540
$4.9M
Cap Rate 7%
$3,530,386
$3.5M
Cap Rate 9%
$2,745,856
$2.7M
Market Conditions
NOI Build-Up for 20,388 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
$367.0K $18.00/SF
− Vacancy
−$13.9K −$0.68/SF
EGI
$353.0K $17.32/SF
− OpEx
−$105.9K −$5.19/SF
NOI
$247.1K $12.12/SF
Area
Strafford County, NH
Vacancy
3.80%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$4,942,540
Cap Rate 7%
$3,530,386
Cap Rate 9%
$2,745,856
Alternative Uses
Best Use
Retail
$3.53M
$3.09M – $4.12M
NOI $247,127 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.45M
$4.77M – $6.36M
NOI $381,810 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
166
Businesses Nearby
151k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 34%
Apparel 21%
Home Improvements & Furnishings 19%
Dining 13%
Kohl's
Apparel
31,812 visits/mo
0.5 miles
Lowe's
Home Improvements & Furnishings
28,917 visits/mo
0.4 miles
Shell
Shops & Services
17,736 visits/mo
0.1 miles
Dollar Tree
Shops & Services
15,571 visits/mo
0.5 miles
Buffalo Wild Wings
Dining
12,487 visits/mo
0.5 miles
Demographics for 03839, NH
4,058
Population
1,729
Households
2.3
Avg Household Size
40
Median Age
31%
College-Educated
92%
High-School Grad
7.9 sq mi
ZIP Area
514
Density / Sq Mi
$86,932
Median Household Income
$56,060
Median Earnings
$1,361
Median Rent
$299,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - NNN lease runs through December 31, 2031, with landlord obligations focused primarily on roof and structural repairs.
Where is this nnn property located?
The property is located at 125 Washington Street Rochester, NH.
What is the asking price?
The asking price for this property is $4,877,000.
What are key features of this property?
This property features: Staples lease extends through December 31, 2031, following exercise of the final five‑year renewal option; 20,388‑square‑foot retail property built in 2008; NNN lease reimburses the landlord’s pro‑rata share of CAM, real estate taxes, and insurance
