Commercial Land with Existing
For Sale
$349,900
230 High Street, Somersworth, NH 03878
R3-zoned parcel with a commercial business and an existing foundation for future development planning.
Property Size820 SF
Price / SF$426.71
Days on Market206
Property Features for 230 High Street
General Information
Standard status
Active
Size
820 SF
Property subtype
Commercial
Zoning
R3
Building Details
Year Built
1960
Listing Agency:
Stephen Cefalo Real Estate
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Feb 6
Changed: Aug 30
Last Checked: Jul 13 at 6:35AM
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 Stephen Cefalo Real Estate
Investment Insights
Based on property information with market context.
This commercial land parcel comprises 0.65 acres with 165 feet of road frontage and an existing commercial business. An existing foundation is also on site, providing a physical improvement for consideration in future planning. The property is zoned R3 and is identified with potential for multi-family or single-family development, subject to applicable approvals.
Located at 230 High Street in Somersworth, New Hampshire, the parcel benefits from its position along a high-traffic road. The property dates to 1960, and its combination of commercial use, frontage, zoning, and existing site improvements supports evaluation for continued business use or redevelopment.
Located at 230 High Street in Somersworth, New Hampshire, the parcel benefits from its position along a high-traffic road. The property dates to 1960, and its combination of commercial use, frontage, zoning, and existing site improvements supports evaluation for continued business use or redevelopment.
Key Highlights
- 0.65‑acre commercial land parcel
- 165 feet of road frontage
- R3 zoning
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
$9,939
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
2.84%
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%
$198,780
$198.8K
Cap Rate 7%
$141,986
$142.0K
Cap Rate 9%
$110,433
$110.4K
Market Conditions
NOI Build-Up for 820 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
$14.8K $18.00/SF
− Vacancy
−$561 −$0.68/SF
EGI
$14.2K $17.32/SF
− OpEx
−$4.3K −$5.19/SF
NOI
$9.9K $12.12/SF
Area
Strafford County, NH
Vacancy
3.80%
Lease Rate
$18.00 /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%
$198,780
Cap Rate 7%
$141,986
Cap Rate 9%
$110,433
Alternative Uses
Best Use
Retail
$142.0K
$124.2K – $165.7K
NOI $9,939 @ 7.0% cap · market cap 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$219.4K
$192.0K – $255.9K
NOI $15,356 @ 7.0% cap · market cap 4.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
331
Businesses Nearby
7k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Cumberland Farms
Shops & Services
6,208 visits/mo
0.1 miles
Napa Auto Parts
Shops & Services
1,148 visits/mo
0.5 miles
Demographics for 03878, NH
11,919
Population
5,722
Households
2.1
Avg Household Size
40
Median Age
29%
College-Educated
95%
High-School Grad
9.8 sq mi
ZIP Area
1,216
Density / Sq Mi
$79,691
Median Household Income
$47,638
Median Earnings
$1,410
Median Rent
$295,200
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?
Commercial land - R3-zoned parcel with a commercial business and an existing foundation for future development planning.
Where is this commercial land located?
The property is located at 230 High Street Somersworth, NH.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 0.65‑acre commercial land parcel; 165 feet of road frontage; R3 zoning
