Building Details

Year Built 1984

Buildings 1

Stories 1

Building Size 13,074 SF

Listing Agency: BHHS Verani Moultonborough j***@verani.com Show Phone

Listed By: Judy Hernandez

Source: 603luxury

Added: Aug 24 Changed: Aug 28 Last Checked: Aug 28 at 8:23PM

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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

Investment Insights

Based on property information with market context.

This single-level warehouse property at 147 Middle Road comprises approximately ±13,074 SF arranged in two distinct units. The building includes three drive-in bays, with one high/wide bay, along with open warehouse and work areas, private offices, kitchen or break-room spaces, and bathrooms. Each unit has its own oil-fired forced-hot-air heating system and 3-phase power. One unit is occupied, while the other can support owner occupancy or a separate lease.

The property spans approximately ±3 acres with ±150’ of road frontage on Route 109A in Center Tuftonboro. Dirt and gravel parking and vehicle movement areas extend around three sides of the building. Private water and wastewater infrastructure includes a drilled well and septic/leach field. The site is zoned NHB – Neighborhood Business and offers regional connections through Routes 109A, 171, 16, and 25. Downtown Wolfeboro is approximately 13 minutes away, with major retail and services about 17 minutes away at the Route 16/25 corridor.

Key Highlights

• ±13,074 SF single‑level warehouse arranged as two separate units
• Three drive‑in bays, including one high/wide bay
• ±3 acres with ±150’ of road frontage on Route 109A

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

$128,981

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

6.61%

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%

$2,579,620 $2.6M

Cap Rate 7%

$1,842,586 $1.8M

Cap Rate 9%

$1,433,122 $1.4M

Market Conditions

NOI Build-Up for 13,074 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

$163.2K $12.48/SF

− Vacancy

−$11.4K −$0.87/SF

EGI

$151.7K $11.61/SF

− OpEx

−$22.8K −$1.74/SF

NOI

$129.0K $9.87/SF

Area

Carroll County, NH

Vacancy

7.00%

Lease Rate

$12.48 /SF/Yr

Expense Ratio

15.00%

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%

$2,579,620

Cap Rate 7%

$1,842,586

Cap Rate 9%

$1,433,122

Alternative Uses

Best Use

Warehouse

$1.84M

$1.61M – $2.15M (±1% cap)

NOI $128,981 @ 7.0% cap · market cap 6.61%

Second Best

Industrial

$1.53M

$1.33M – $1.78M (±1% cap)

NOI $106,791 @ 7.0% cap · market cap 5.48%

Theoretical Best

Office A

$3.26M

$2.86M – $3.81M (±1% cap)

NOI $228,517 @ 7.0% cap · market cap 11.72%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Lighthouse Marine Services (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Building Supply HVAC Service Plumbing Service Grocery & Convenience Store Catering Service Pharmacy

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

3

Drive-in doors

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

17

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 03816, NH

1,304

Population

855

Households

1.5

Avg Household Size

54

Median Age

39%

College-Educated

94%

High-School Grad

26.5 sq mi

ZIP Area

49

Density / Sq Mi

$85,750

Median Household Income

$47,500

Median Earnings

$401,000

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

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Warehouse - NHB-zoned facility offers three-phase power, separate heating systems, and flexible occupancy for business or rental use.

Where is this warehouse located?

The property is located at 147 Middle Rd Tuftonboro, NH.

What is the asking price?

The asking price for this property is $1,950,000.

What are key features of this property?

This property features: ±13,074 SF single‑level warehouse arranged as two separate units; Three drive‑in bays, including one high/wide bay; ±3 acres with ±150’ of road frontage on Route 109A