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    Lower-Level Flex Space Build-to-Suit Title is generated by Realmo AI

    376 Union Avenue #Lower-Level, Laconia, NH 03246

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    New
    For Lease
    $1.00 SF/Yr

    As-is shell lower-level space suited for customized layouts, storage-intensive uses, and contractor or studio operations.

    Added:
    Jun 3, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 3 at 1:10 pm

    Property Features for 376 Union Avenue #Lower-Level

    General Information

    Standard status
    Active

    Building Details

    Year Built
    1910

    We can help!

    Listing Contact
    Judy Hernandez
    Judy Hernandez

    Listing agent Judy Hernandez

    Listing office Bhhs Verani Moultonborough

    Listing date Jun 3, 2026

    Source Threehillsres

    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 Bhhs Verani Moultonborough

    HighLights

    • Lower‑level commercial space at 376 Union Avenue in Laconia within the Union Square redevelopment.
    • Year built 1910, delivered as‑is in shell condition and designed for tenant customization.
    • Suitable for build‑to‑suit layouts for storage‑intensive uses, creative workspace, contractor office, studio, or specialty business operations.
    • Ownership is open to flexible build‑out arrangements depending on tenant use and lease structure.
    • Access to on‑site parking with multiple access points near downtown Laconia amenities.

    Overview

    This lower-level commercial space is delivered as-is in shell condition, providing a blank canvas for tenants planning tenant improvements. Ownership is open to discussing flexible build-out arrangements depending on the intended use and lease structure, making it well-suited for operations that require a customized interior layout. The offering is positioned within a well-established commercial building that supports a range of storage-intensive and specialty needs.

    The space is located at 376 Union Avenue in Laconia as part of the Union Square redevelopment. The surrounding environment is described as a convenient, walkable mixed-use setting near downtown restaurants, cafés, retail shops, and everyday services. Tenants also benefit from on-site parking with multiple access points, supporting practical day-to-day access for employees, clients, and deliveries.

    For prospective tenants and operators, the build-to-suit format can fit a variety of concepts, including creative workspace, contractor office use, studio operations, and specialty business activities that can be configured to match specific operational requirements. With multiple leasing opportunities currently available in the property, users seeking an adaptable space plan within a central downtown setting may find this arrangement workable for expansion or relocation.
    Location Intelligence

    Current Use by Public Records

    Finn Dental Dental Office Healthy Smiles Complete ... Dental Office Pleeter Wendy Dental Office Becker Kim Dental Office Beguinistin Mepi Dental Office

    Suggested Use

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

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

    Similar Places Nearby

    • Charcuterie By Katie — 2 Pleasant St, Laconia, NH 03246
    • Hectors Fine Food and Spirits Catering — 53 beacon st w, laconia, nh 03246

    Location Insight

    • Map
    • Local Demand
    City
    Laconia
    County
    Belknap
    State
    New Hampshire
    Longitude
    -71.463241
    Latitude
    43.535838

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    FAQs

    What type of property is this?
    Flex space - As-is shell lower-level space suited for customized layouts, storage-intensive uses, and contractor or studio operations.
    Where is this flex space located?
    The property is located at 376 Union Avenue #Lower-Level Laconia, NH.
    What is the lease rate?
    The lease rate is $1.00 SF/Yr.
    What are key features of this property?
    This property features: Lower‑level commercial space at 376 Union Avenue in Laconia within the Union Square redevelopment.; Year built 1910, delivered as‑is in shell condition and designed for tenant customization.; Suitable for build‑to‑suit layouts for storage‑intensive uses, creative workspace, contractor office, studio, or specialty business operations.
    (603) 279-6000
    We can help!
    Listing Contact
    Judy Hernandez
    Judy Hernandez
    Learn More
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    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
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    376 Union Avenue #Lower-Level, Laconia, NH 03246
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