Medical Office Condo
For Sale
$900,000
166 Plaistow Road #Units 1 & 2, Plaistow, NH 03865
Two medical office condo units are fully occupied by a single tenant and renovated in 2017.
Property Size4,640 SF
Price / SF$193.97
Days on Market50
Property Features for 166 Plaistow Road #Units 1 & 2
General Information
Standard status
Active
Size
4,640 SF
Zoning
C-3
Occupancy
100%
Additional Details
Highway Access
Yes
Office Units
2
Taxes and HOA fees
Annual Taxes
$9,718
Building Details
Year Built
1985
Year Renovated
2017
Tenancy
Single
Listing Agency:
BHHS Verani Londonderry
Listed By:
Turner Brown
(603) 714-9081
Source:
Laerrealty
Added: Jul 26
Changed: Sep 2
Last Checked: Sep 13 at 4:59AM
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 Londonderry
Investment Insights
Based on property information with market context.
This offering includes two medical office condo units totaling 4,640± SF, built in 1980 and renovated in 2017. The property is 100% occupied by a single tenant, providing current, in-place occupancy. The condo configuration supports professional office use within a dedicated medical office setting.
Located at 166 Plaistow Road in Plaistow, NH (Units 1 & 2), the property is positioned for access via Interstate 495, supported by highway and transit connectivity described in the marketing materials.
Zoned C-3, the property offers versatility for professional use consistent with the zoning designation. It is offered for sale and is also being marketed to investors, including 1031 exchange participants.
Located at 166 Plaistow Road in Plaistow, NH (Units 1 & 2), the property is positioned for access via Interstate 495, supported by highway and transit connectivity described in the marketing materials.
Zoned C-3, the property offers versatility for professional use consistent with the zoning designation. It is offered for sale and is also being marketed to investors, including 1031 exchange participants.
Key Highlights
- 4,640 SF medical office condo property in two condo units
- Built in 1980 and renovated in 2017
- 100% occupied by a single tenant
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
$79,653
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
8.85%
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%
$1,593,060
$1.6M
Cap Rate 7%
$1,137,900
$1.1M
Cap Rate 9%
$885,033
$885.0K
Market Conditions
NOI Build-Up for 4,640 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
$122.5K $26.40/SF
− Vacancy
−$16.3K −$3.51/SF
EGI
$106.2K $22.89/SF
− OpEx
−$26.6K −$5.72/SF
NOI
$79.7K $17.17/SF
Area
Rockingham County, NH
Vacancy
13.30%
Lease Rate
$26.40 /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%
$1,593,060
Cap Rate 7%
$1,137,900
Cap Rate 9%
$885,033
Alternative Uses
Best Use
Office B
$1.14M
$995.7K – $1.33M
NOI $79,653 @ 7.0% cap · market cap 8.85%
Second Best
Healthcare Medical
$993.3K
$869.1K – $1.16M
NOI $69,530 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $108,135 @ 7.0% cap · market cap 12.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
338
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 03865, NH
7,830
Population
3,180
Households
2.5
Avg Household Size
44
Median Age
36%
College-Educated
97%
High-School Grad
10.6 sq mi
ZIP Area
739
Density / Sq Mi
$109,040
Median Household Income
$58,452
Median Earnings
$1,595
Median Rent
$382,100
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?
Medical Office Space - Two medical office condo units are fully occupied by a single tenant and renovated in 2017.
Where is this medical office space located?
The property is located at 166 Plaistow Road #Units 1 & 2 Plaistow, NH.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 4,640 SF medical office condo property in two condo units; Built in 1980 and renovated in 2017; 100% occupied by a single tenant
