Building Details

Year Built 1950

Buildings 3

Listing Agency: Equity Group Real Estate Broker Inc. Show Phone

Listed By: James Ward · License #James Ward Show Phone

Source: Longviewcre

Added: Jul 31 Changed: Oct 28 Last Checked: Oct 28 at 1:41PM

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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 Equity Group Real Estate Broker Inc.

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

The property includes three buildings with office, showroom, repair, receiving, and storage space. The main building has two levels, with 3,700 square feet of office and product display space on the ground floor and a 3,700-square-foot finished lower level with walkout access. A two-story, post-and-beam barn offers 4,800 square feet and drive-through access; a separate 2,160-square-foot building is used for repair and storage.

At the corner of Route 120 and Storrs Hill Road, the site has 734 feet of frontage on Route 120 and 300 feet on Storrs Hill Road. It is approximately 2 miles south of the town center, with paved on-site parking for 11–20 vehicles. A natural area behind the property borders Great Brook.

Key Highlights

• Three buildings provide office, showroom, repair, receiving, and storage areas
• Main building has two levels: 3,700 square feet at grade and a 3,700‑square‑foot finished walkout level
• Two‑story post‑and‑beam barn offers 4,800 square feet and drive‑through access

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$144,168

Cap Rate

9.01%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,883,360 $2.9M

Cap Rate 7%

$2,059,543 $2.1M

Cap Rate 9%

$1,601,867 $1.6M

Is this asking price fair?

Market Conditions

NOI Build-Up for 11,920 SF

Gross rent

$221.7K $18.60/SF

− Vacancy

−$29.5K −$2.47/SF

EGI

$192.2K $16.13/SF

− OpEx

−$48.1K −$4.03/SF

NOI

$144.2K $12.09/SF

Area

Grafton County, NH

Vacancy

13.30%

Lease Rate

$18.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,883,360

Cap Rate 7%

$2,059,543

Cap Rate 9%

$1,601,867

Alternative Uses

Best Use

Office B

$2.06M

$1.80M – $2.40M (±1% cap)

NOI $144,168 @ 7.0% cap · market cap 9.01%

Second Best

Retail

$1.82M

$1.59M – $2.12M (±1% cap)

NOI $127,062 @ 7.0% cap · market cap 7.94%

Theoretical Best

Office A

$2.62M

$2.29M – $3.06M (±1% cap)

NOI $183,543 @ 7.0% cap · market cap 11.47%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Keene Medical Products ... Medical Supply Store

Suggested Use

Top Pick Building Supply HVAC Service Pharmacy Plumbing Service Kitchen & Bath Showroom Spa & Massage Center

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

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

12

Businesses Nearby

Explore this area Business Placement

Demographics for 03766, NH

9,838

Population

5,346

Households

1.8

Avg Household Size

39

Median Age

55%

College-Educated

95%

High-School Grad

32.0 sq mi

ZIP Area

307

Density / Sq Mi

$96,642

Median Household Income

$53,441

Median Earnings

$1,860

Median Rent

$348,000

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Three buildings combine office, product display, repair, storage, and receiving areas on a corner parcel.

Where is this mixed-use property located?

The property is located at 240 Meriden Road Lebanon, NH.

What is the asking price?

The asking price for this property is $1,600,000.

What are key features of this property?

This property features: Three buildings provide office, showroom, repair, receiving, and storage areas; Main building has two levels: 3,700 square feet at grade and a 3,700‑square‑foot finished walkout level; Two‑story post‑and‑beam barn offers 4,800 square feet and drive‑through access