Flex Space Condominium with Loading
For Sale
$1,350,000
9 Delta Drive unit B2, Londonderry, NH 03053
Industrial condominium combining finished office space with practical loading access and a drive-in door.
Property Size7,519 SF
Price / SF$179.55
Days on Market145
Property Features for 9 Delta Drive unit B2
General Information
Standard status
Active
Size
7,519 SF
Property subtype
Warehouse
Warehouse & Industrial
Dock-High Doors
1
Drive-In Doors
1
Additional Details
Highway Access
Yes
Amenities
7,519 SF Warehouse + Office Combination | Ideal for storage, distribution, & production
Located next to the Manchester-Boston Regional Airport | within the Foreign Trade Zone
Easily accessible via I-293, Exits 1 and 2, and just minutes from I-93 and route 3
Building Details
Building Size
7,519 SF
Year Built
1987
Tenancy
Single
Listed By:
Luigi Lessa · License #License(s): MA: 9566627-RE-S
(617) 896-7216
Source:
Marcusmillichap
Added: Apr 12
Changed: Sep 3
Last Checked: Aug 30 at 12:24PM
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 Luigi Lessa
Investment Insights
Based on property information with market context.
Unit B2 is a 7,519± SF flex space condominium at 9 Delta Drive in Londonderry, NH. The industrial layout includes finished office space, one wide drive-in door, and one loading dock, providing a combination of administrative and shipping functionality within the unit.
The property is positioned in Londonderry’s airport-area commercial setting with convenient access to the highway system. A tenant is in place through 10.31.22 and has indicated a willingness to remain for a longer period, offering an existing occupancy arrangement for an investor or interim cash flow for an owner-user.
The property is positioned in Londonderry’s airport-area commercial setting with convenient access to the highway system. A tenant is in place through 10.31.22 and has indicated a willingness to remain for a longer period, offering an existing occupancy arrangement for an investor or interim cash flow for an owner-user.
Key Highlights
- 7,519± SF industrial condominium in Unit B2
- One wide drive‑in door supports convenient ground‑level access
- One loading dock included with the unit
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
$86,178
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
6.38%
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%
$1,723,560
$1.7M
Cap Rate 7%
$1,231,114
$1.2M
Cap Rate 9%
$957,533
$957.5K
Market Conditions
NOI Build-Up for 7,519 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
$142.6K $18.96/SF
− Vacancy
−$10.0K −$1.33/SF
EGI
$132.6K $17.63/SF
− OpEx
−$46.4K −$6.17/SF
NOI
$86.2K $11.46/SF
Area
Rockingham County, NH
Vacancy
7.00%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
35.00%
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%
$1,723,560
Cap Rate 7%
$1,231,114
Cap Rate 9%
$957,533
Alternative Uses
Best Use
Flex RnD
$1.23M
$1.08M – $1.44M
NOI $86,178 @ 7.0% cap · market cap 6.38%
Second Best
Warehouse
$784.4K
$686.3K – $915.1K
NOI $54,907 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$2.50M
$2.19M – $2.92M
NOI $175,230 @ 7.0% cap · market cap 12.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
1
Drive-in doors
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 03053, NH
25,646
Population
9,751
Households
2.6
Avg Household Size
42
Median Age
49%
College-Educated
97%
High-School Grad
41.7 sq mi
ZIP Area
615
Density / Sq Mi
$132,241
Median Household Income
$60,812
Median Earnings
$1,837
Median Rent
$464,100
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial condominium combining finished office space with practical loading access and a drive-in door.
Where is this flex space located?
The property is located at 9 Delta Drive unit B2 Londonderry, 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: 7,519± SF industrial condominium in Unit B2; One wide drive‑in door supports convenient ground‑level access; One loading dock included with the unit
