Flex Space with
280 Heritage Avenue, Portsmouth, NH 03801
For Sale
New
$550,000
Commercial Sale, Portsmouth, NH
Property Size2,550 SF
Price / SF$215.69
Days on Market2
Property Features for 280 Heritage Avenue
General Information
Property type
Property subtype
Zoning
Zoning description
Parking features
Directions
Standard status
Additional Details
Tenant in Place
Property Use
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Cooling system
Water source
Building Details
Year built
Building materials
Listing Agency:
Tate & Foss Sotheby's International Rlty · Sotheby's International Realty
Listed By:
Tony Jalbert
(603) 964-8028
Added: Nov 12
Last Checked: Nov 13 at 11:06PM
MLS# 5117638
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.
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Investment Insights
Based on property information with market context.
This industrial condominium at 280 Heritage Avenue, Unit C, contains approximately 2,550 square feet of finished and warehouse space, including a 450-square-foot mezzanine. The 30-by-70-foot footprint has a 35-foot ceiling and a 12-foot-wide by 14-foot-high overhead door. Finished office space totals 450 square feet on the main level and another 450 square feet on the mezzanine; both areas are heated and air-conditioned. A half bath is located on the main level. The unit has 200-amp electrical service, while the building has three-phase power. Heating is provided by forced hot air, and zoning is I.
The property is in Portsmouth, New Hampshire, near Interstate 95, Route 1, and the Spaulding Turnpike. The unit is leased through June 2027, and closing is scheduled no earlier than 2027.
The property is in Portsmouth, New Hampshire, near Interstate 95, Route 1, and the Spaulding Turnpike. The unit is leased through June 2027, and closing is scheduled no earlier than 2027.
Key Highlights
- Approximately 2,550 square feet, including a 450‑square‑foot mezzanine
- 35‑foot ceiling and 12' W x 14' H overhead door
- 450 square feet of finished, heated and air‑conditioned office space on each level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,226
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$584,520
$584.5K
Cap Rate 7%
$417,514
$417.5K
Cap Rate 9%
$324,733
$324.7K
Market Conditions
NOI Build-Up for 2,550 SF
Gross rent
$48.3K $18.96/SF
− Vacancy
−$3.4K −$1.33/SF
EGI
$45.0K $17.63/SF
− OpEx
−$15.7K −$6.17/SF
NOI
$29.2K $11.46/SF
Area
Rockingham County, NH
Vacancy
7.00%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$584,520
Cap Rate 7%
$417,514
Cap Rate 9%
$324,733
Alternative Uses
Best Use
Flex RnD
$417.5K
$365.3K – $487.1K
NOI $29,226 @ 7.0% cap · market cap 5.31%
Second Best
Warehouse
$266.0K
$232.8K – $310.4K
NOI $18,621 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$849.0K
$742.9K – $990.5K
NOI $59,428 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
306
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 03801, NH
22,767
Population
11,448
Households
2
Avg Household Size
43
Median Age
63%
College-Educated
98%
High-School Grad
23.8 sq mi
ZIP Area
957
Density / Sq Mi
$106,520
Median Household Income
$65,984
Median Earnings
$1,783
Median Rent
$647,500
Median Home Value
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Market
Average Price Trend$/SF for Flex space in Rockingham County, NH
Properties on Market for Flex space in Rockingham County
Vacancy Rate% for Industrial in Northeast region
Similar Off Market Nearby
- Ikko Hibachi & Sushi Catering — 2466 Lafayette Rd, Portsmouth, NH 03801
Frequently Asked Questions
What type of property is this?
Flex space - The unit combines warehouse capacity with finished, climate-controlled office areas on two levels.
Where is this flex space located?
The property is located at 280 Heritage Avenue Portsmouth, NH.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Approximately 2,550 square feet, including a 450‑square‑foot mezzanine; 35‑foot ceiling and 12' W x 14' H overhead door; 450 square feet of finished, heated and air‑conditioned office space on each level
