Oceanfront Three-Unit
For Sale
$3,750,000
203 Ocean Boulevard, Hampton, NH 03842
Oceanfront retail building with separate rental suites, individual utilities, and large display windows.
Property Size12,142 SF
Price / SF$308.85
Days on Market17
Property Features for 203 Ocean Boulevard
General Information
Standard status
Active
Size
12,142 SF
Site & Location
Road Access
Yes
Utilities to Site
Yes
Amenities
large storefront windows
prominent signage exposure
flexible layouts
individual utilities
close proximity to parking
Building Details
Year Built
1955
Buildings
1
Tenancy
Multi
Listing Agency:
Carey Giampa, LLC/Rye
(603) 431-1111
Listed By:
Lauren Stone
Source:
Melanienorcross
Added: Aug 13
Changed: Aug 29
Last Checked: Aug 25 at 5:08AM
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 Carey Giampa, LLC/Rye
Investment Insights
Based on property information with market context.
Built in 1955, 203 Ocean Boulevard is an oceanfront storefront property with three distinct retail rental units. Each suite includes its own utilities, while large storefront windows and dedicated signage exposure support customer-facing retail operations. The layouts are described as flexible, allowing each unit to function independently within the building.
The property is positioned along Ocean Boulevard in Hampton Beach, within a beachfront commercial district serving tourists, beachgoers, and local customers. Nearby parking adds convenience for visitors and tenants. The property is zoned BS1 and has a stable rental history.
The property is positioned along Ocean Boulevard in Hampton Beach, within a beachfront commercial district serving tourists, beachgoers, and local customers. Nearby parking adds convenience for visitors and tenants. The property is zoned BS1 and has a stable rental history.
Key Highlights
- Three separate retail rental units within one oceanfront building
- Individual utilities serve each retail unit
- Large storefront windows and prominent signage exposure
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
$171,654
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
4.58%
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%
$3,433,080
$3.4M
Cap Rate 7%
$2,452,200
$2.5M
Cap Rate 9%
$1,907,267
$1.9M
Market Conditions
NOI Build-Up for 12,142 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
$262.3K $21.60/SF
− Vacancy
−$17.0K −$1.40/SF
EGI
$245.2K $20.20/SF
− OpEx
−$73.6K −$6.06/SF
NOI
$171.7K $14.14/SF
Area
Rockingham County, NH
Vacancy
6.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$3,433,080
Cap Rate 7%
$2,452,200
Cap Rate 9%
$1,907,267
Alternative Uses
Best Use
Retail
$2.45M
$2.15M – $2.86M
NOI $171,654 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.04M
$3.54M – $4.72M
NOI $282,969 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
880
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Perkins Restaurant & Bakery
Dining
880 visits/mo
0.4 miles
Demographics for 03842, NH
16,048
Population
9,978
Households
1.6
Avg Household Size
53
Median Age
43%
College-Educated
96%
High-School Grad
12.8 sq mi
ZIP Area
1,254
Density / Sq Mi
$94,433
Median Household Income
$53,533
Median Earnings
$1,679
Median Rent
$491,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Oceanfront retail building with separate rental suites, individual utilities, and large display windows.
Where is this storefront property located?
The property is located at 203 Ocean Boulevard Hampton, NH.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Three separate retail rental units within one oceanfront building; Individual utilities serve each retail unit; Large storefront windows and prominent signage exposure
