Flex Space with
For Sale
Under Contract
$475,000
265 Mast Road, Goffstown, NH 03045
Commercial Sale, Goffstown, NH
Property Size2,168 SF
Lot Size0.75 Acres
Price / SF$219.10
Days on Market109
Property Features for 265 Mast Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CIFZ
Rooms
Basement
Parking features
Driveway, Paved or Surfaced
Lot features
Near Shopping, Level, Major Road Frontage, Trail/ Near Trail
Standard status
Active Under Contract
Lot size
0.75 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7291
Utilities
Heating system
Oil
Water source
Public
Amenities
kitchen
full bath
storage
fenced backyard
garage with lift
rail trail
Building Details
Year built
1936
Building materials
Brick Exterior
Roof type
Shingle
Listing Agency:
Granite Rose Real Estate, LLC
(603) 496-0034
Listed By:
Rose Culver
(603) 496-0034
Added: May 4
Changed: Aug 20
Last Checked: Aug 20 at 6:06PM
MLS# 5086833
Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex-space property combines a commercial building with a 22-by-23-foot garage connected by a breezeway. The garage roof was raised for lift clearance and includes dedicated 50-amp electrical service supporting a welder, electric heater, and lighting. Interior improvements include a kitchen, half bath, full bath, multiple office or work rooms, and substantial storage. The building has a brick exterior, oil heat, a shingle roof, public water, and a paved driveway.
The 0.75-acre level parcel is enclosed at the rear and directly bounded by the Goffstown Rail Trail. An additional 30-amp electrical line serves the backyard, and the site provides ample parking. Located within the Commercial Industrial Flex Zone District (CIFZ), the property is positioned along Mast Road, which carries approximately 17,000 vehicles per day. I-293 is less than 15 minutes away, and Route 101 is 10 minutes away.
The 0.75-acre level parcel is enclosed at the rear and directly bounded by the Goffstown Rail Trail. An additional 30-amp electrical line serves the backyard, and the site provides ample parking. Located within the Commercial Industrial Flex Zone District (CIFZ), the property is positioned along Mast Road, which carries approximately 17,000 vehicles per day. I-293 is less than 15 minutes away, and Route 101 is 10 minutes away.
Key Highlights
- Commercial Industrial Flex Zone District (CIFZ) designation
- 22'x23' garage with elevated roof for lift accommodation
- Dedicated 50 amp garage service plus 30 amp backyard electric line
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
$38,063
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
8.01%
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%
$761,260
$761.3K
Cap Rate 7%
$543,757
$543.8K
Cap Rate 9%
$422,922
$422.9K
Market Conditions
NOI Build-Up for 2,168 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
$58.5K $27.00/SF
− Vacancy
−$7.8K −$3.59/SF
EGI
$50.8K $23.41/SF
− OpEx
−$12.7K −$5.85/SF
NOI
$38.1K $17.56/SF
Area
Hillsborough County, NH
Vacancy
13.30%
Lease Rate
$27.00 /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%
$761,260
Cap Rate 7%
$543,757
Cap Rate 9%
$422,922
Alternative Uses
Best Use
Office B
$543.8K
$475.8K – $634.4K
NOI $38,063 @ 7.0% cap · market cap 8.01%
Second Best
Industrial
$265.5K
$232.3K – $309.8K
NOI $18,586 @ 7.0% cap · market cap 3.91%
Theoretical Best
Specialty Retail
$3.97M
$3.48M – $4.63M
NOI $278,046 @ 7.0% cap · market cap 58.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 03045, NH
14,107
Population
5,521
Households
2.6
Avg Household Size
43
Median Age
39%
College-Educated
97%
High-School Grad
35.9 sq mi
ZIP Area
393
Density / Sq Mi
$114,965
Median Household Income
$57,876
Median Earnings
$1,590
Median Rent
$360,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - CIFZ-zoned commercial property with office areas, storage, parking, and a fenced level lot adjoining the Goffstown Rail Trail.
Where is this flex space located?
The property is located at 265 Mast Road Goffstown, NH.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Commercial Industrial Flex Zone District (CIFZ) designation; 22'x23' garage with elevated roof for lift accommodation; Dedicated 50 amp garage service plus 30 amp backyard electric line
