Industrial Condominium with Office
280 Heritage Avenue Unit C, Portsmouth, NH 03801
For Sale
New
$550,000
A leased unit combines warehouse area with conditioned office space on two levels.
Property Size2,550 SF
Price / SF$215.69
Days on Market4
Property Features for 280 Heritage Avenue Unit C
General Information
Standard status
Size
Warehouse & Industrial
Clear Height
Office Build-Out
Mezzanine
Power
Additional Details
Highway Access
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Tate & Foss Sotheby's International Rlty
Listed By:
Tony Jalbert
(603) 498-6241
Source:
Brickandbarngroup
Added: Nov 12
Changed: Nov 14
Last Checked: Nov 14 at 10:33AM
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 Tate & Foss Sotheby's International Rlty
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Investment Insights
Based on property information with market context.
This industrial condominium contains approximately 2,550 square feet, including a 450-square-foot mezzanine. The main floor and mezzanine each provide 450 square feet of finished office area with heating and air conditioning; a half bath is located on the main level. Warehouse features include a 35-foot ceiling, a 12-foot-wide by 14-foot-high overhead door, and 200-amp electrical service to the unit. The building has three-phase service, and the unit is heated by forced hot air. Built in 2005, it is leased through June 2027, with closing scheduled no earlier than that year.
The property is at 280 Heritage Avenue in Portsmouth, near Interstate 95, Route 1, and the Spaulding Turnpike.
The property is at 280 Heritage Avenue in Portsmouth, near Interstate 95, Route 1, and the Spaulding Turnpike.
Key Highlights
- Approximately 2,550 square feet, including a 450‑square‑foot mezzanine
- 35‑foot ceiling height and 12‑foot‑wide by 14‑foot‑high overhead door
- Two 450‑square‑foot finished office areas with heating and air conditioning
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
35 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
306
Businesses Nearby
Balanced
Demand for This Use
Explore this area
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 - A leased unit combines warehouse area with conditioned office space on two levels.
Where is this flex space located?
The property is located at 280 Heritage Avenue Unit C 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 height and 12‑foot‑wide by 14‑foot‑high overhead door; Two 450‑square‑foot finished office areas with heating and air conditioning
