Connected Office Condominium
New
For Sale
$147,000
276 Newport Road #205/207, New London, NH 03753
Second-floor commercial space provides adaptable offices with on-site parking and access to a professional tenant community.
Property Size1,141 SF
Price / SF$128.83
Days on Market2
Property Features for 276 Newport Road #205/207
General Information
Standard status
Active
Size
1,141 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Floor
2
Highway Access
Yes
Office Units
2
Taxes and HOA fees
Annual Taxes
$2,079
Building Details
Year Built
1985
Units
2
Tenancy
Multi
Listing Agency:
Bhhs Verani Upper Valley
(603) 678-1309
Listed By:
Grant Tyler
(603) 678-1309
Source:
Ossipeelakere
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 10 at 8:18AM
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 Bhhs Verani Upper Valley
Investment Insights
Based on property information with market context.
Units 205 and 207 comprise 1,141 square feet of second-floor office condominium space within a commercial building constructed in 1985. The connected suites are currently arranged with multiple workstations and offer two distinct office areas. The larger space supports an open workspace or client-facing layout, while the smaller room has separate access from the common hallway and adjoining office, allowing for reception, consultation, or private office use.
The Gallery includes a glass-enclosed main-floor walkway, on-site parking, and a mix of professional, medical, retail, restaurant, and personal-service tenants. The property is located at 276 Newport Road in New London, with access to I-89 and proximity to a grocery store, pharmacy, post office, local retailers, and New London Hospital. Commercial zoning supports the property's established office setting.
The Gallery includes a glass-enclosed main-floor walkway, on-site parking, and a mix of professional, medical, retail, restaurant, and personal-service tenants. The property is located at 276 Newport Road in New London, with access to I-89 and proximity to a grocery store, pharmacy, post office, local retailers, and New London Hospital. Commercial zoning supports the property's established office setting.
Key Highlights
- 1,141 SF of second‑floor office condominium space in Units 205 and 207
- Two connected suites with multiple workstations and adaptable room arrangements
- Smaller office has access from both the common hallway and adjoining suite
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
$8,508
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
5.79%
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%
$170,160
$170.2K
Cap Rate 7%
$121,543
$121.5K
Cap Rate 9%
$94,533
$94.5K
Market Conditions
NOI Build-Up for 1,141 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
$16.4K $14.40/SF
− Vacancy
−$2.3K −$1.97/SF
EGI
$14.2K $12.43/SF
− OpEx
−$5.7K −$4.97/SF
NOI
$8.5K $7.46/SF
Area
Merrimack County, NH
Vacancy
13.70%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
40.00%
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%
$170,160
Cap Rate 7%
$121,543
Cap Rate 9%
$94,533
Alternative Uses
Best Use
Office B
$227.9K
$199.4K – $265.9K
NOI $15,952 @ 7.0% cap · market cap 10.85%
Second Best
Healthcare Medical
$121.5K
$106.4K – $141.8K
NOI $8,508 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$297.1K
$260.0K – $346.6K
NOI $20,797 @ 7.0% cap · market cap 14.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
361
Businesses Nearby
Explore this area
Business Placement
Demographics for 03753, NH
3,476
Population
2,232
Households
1.6
Avg Household Size
50
Median Age
61%
College-Educated
98%
High-School Grad
28.2 sq mi
ZIP Area
123
Density / Sq Mi
$113,317
Median Household Income
$69,497
Median Earnings
$351,600
Median Home Value
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 units - Second-floor commercial space provides adaptable offices with on-site parking and access to a professional tenant community.
Where is this office units located?
The property is located at 276 Newport Road #205/207 New London, NH.
What is the asking price?
The asking price for this property is $147,000.
What are key features of this property?
This property features: 1,141 SF of second‑floor office condominium space in Units 205 and 207; Two connected suites with multiple workstations and adaptable room arrangements; Smaller office has access from both the common hallway and adjoining suite
