Pittsfield Office Building For
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16 Concord Hill Rd, Pittsfield, NH
Exceptional property suitable for various uses in Pittsfield, NH.
Property Size7,193 SF
Lot Size0.14 Acres
Price / SF$156.40
Days on Market350
Property Features for 16 Concord Hill Rd
General Information
Standard status
Active
Size
7,193 SF
Lot size
0.14 Acres
Property subtype
OFFICE
Listing Agency:
Sperry - Commercial Realty Associates
(603) 785-2246
Listed By:
Jesse Hepler, CCIM · License ##074414
(603) 785-2246
Source:
Moodyscre
Added: Sep 8, 2025
Changed: Aug 8
Last Checked: Aug 22 at 12:46PM
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 Sperry - Commercial Realty Associates
Investment Insights
Based on property information with market context.
This property is located in Pittsfield, New Hampshire, just off State Route 28, providing access to the Greater Concord area and Southern New Hampshire markets. Formerly the NobleSpirit complex, the property is suited for various uses, including executive headquarters, conference or training centers, light industrial, restaurants, or bed & breakfasts, due to its flexible zoning. The main building features two production levels and a third-floor office suite with a private conference room connected by a skyway. Additional outbuildings include a 1,306 square foot structure, carport, shed, and a dedicated dumpster area. The property includes a 1.51-acre flat parcel with a park-like setting and 510 feet of frontage on the Suncook River, along with on-site parking. The building is in exceptional condition. The adjacent property at 10 Concord Hill Road is also available separately. This parcel includes 9,216 square feet of land with a 1,460 square foot building and on-site parking along the Suncook River, adding an additional 200 feet of river frontage, bringing it to over 700 feet of frontage.
Key Highlights
- Flexible zoning suitable for various uses.
- Convenient location just off State Route 28, providing easy access to Concord and Southern New Hampshire.
- 1.51‑acre flat parcel with a park‑like setting and 510’ frontage on the Suncook River.
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
$100,562
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
8.94%
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%
$2,011,240
$2.0M
Cap Rate 7%
$1,436,600
$1.4M
Cap Rate 9%
$1,117,356
$1.1M
Market Conditions
NOI Build-Up for 7,193 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
$155.4K $21.60/SF
− Vacancy
−$21.3K −$2.96/SF
EGI
$134.1K $18.64/SF
− OpEx
−$33.5K −$4.66/SF
NOI
$100.6K $13.98/SF
Area
Merrimack County, NH
Vacancy
13.70%
Lease Rate
$21.60 /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%
$2,011,240
Cap Rate 7%
$1,436,600
Cap Rate 9%
$1,117,356
Alternative Uses
Best Use
Office B
$1.44M
$1.26M – $1.68M
NOI $100,562 @ 7.0% cap · market cap 8.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.87M
$1.64M – $2.19M
NOI $131,104 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
165
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Exceptional property suitable for various uses in Pittsfield, NH.
Where is this office building located?
The property is located at 16 Concord Hill Rd Pittsfield, NH.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: Flexible zoning suitable for various uses.; Convenient location just off State Route 28, providing easy access to Concord and Southern New Hampshire.; 1.51‑acre flat parcel with a park‑like setting and 510’ frontage on the Suncook River.
