Flex Space with Overhead
For Sale
$509,900
288 Hounsell Avenue, Gilford, NH 03249
Commercial Sale, Gilford, NH
Property Size1,425 SF
Price / SF$357.82
Days on Market113
Property Features for 288 Hounsell Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning
I
Subdivision
Granite Ridge
Lot features
Condo Development, Level, Neighbor Business
Directions
From Gilford Ave: turn onto Hounsell Ave across from Piche's and continue about half a mile - Granite Ridge will be on your right.
Standard status
Active
Utilities
Utilities
Cable Available
Heating system
Propane (Heating)
Water source
Public
Building Details
Year built
2026
Building materials
Steel Frame
Roof type
Metal
Listing Agency:
KW Coastal and Lakes & Mountains Realty/Meredith · Keller Williams Realty
(603) 569-4663
Listed By:
Shannon Casey · License #072839
(603) 610-8500
Added: Apr 30
Changed: Aug 20
Last Checked: Aug 20 at 4:06PM
MLS# 5086392
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.
Building 6 at Granite Ridge contains a 1,425-square-foot flex unit under construction, configured for office, warehouse, and storage functions. The space includes a private entrance, dedicated office, restroom, and open bay with a 10-foot overhead door. Steel-frame construction and a metal roof are planned, with completion scheduled for 2026.
The commercial condominium campus is located in Gilford’s commercial district and provides public water, town sewer, underground utilities, three-phase power, propane heat, and fiber optic connectivity. Lake Winnipesaukee and Gunstock Mountain Resort are minutes away. The unit’s layout supports a range of business operations requiring a combination of work, storage, and office areas.
The commercial condominium campus is located in Gilford’s commercial district and provides public water, town sewer, underground utilities, three-phase power, propane heat, and fiber optic connectivity. Lake Winnipesaukee and Gunstock Mountain Resort are minutes away. The unit’s layout supports a range of business operations requiring a combination of work, storage, and office areas.
Key Highlights
- 1,425 SF flex unit in Building 6
- Private entrance, dedicated office, restroom, and open bay
- 10' overhead door provides bay access
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
$16,326
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
3.20%
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%
$326,520
$326.5K
Cap Rate 7%
$233,229
$233.2K
Cap Rate 9%
$181,400
$181.4K
Market Conditions
NOI Build-Up for 1,425 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
$27.4K $19.20/SF
− Vacancy
−$2.2K −$1.57/SF
EGI
$25.1K $17.63/SF
− OpEx
−$8.8K −$6.17/SF
NOI
$16.3K $11.46/SF
Area
Belknap County, NH
Vacancy
8.20%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
35.00%
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%
$326,520
Cap Rate 7%
$233,229
Cap Rate 9%
$181,400
Alternative Uses
Best Use
Flex RnD
$233.2K
$204.1K – $272.1K
NOI $16,326 @ 7.0% cap · market cap 3.20%
Second Best
Warehouse
$208.6K
$182.5K – $243.3K
NOI $14,599 @ 7.0% cap · market cap 2.86%
Theoretical Best
Office A
$338.9K
$296.5K – $395.4K
NOI $23,721 @ 7.0% cap · market cap 4.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
259
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 03249, NH
7,698
Population
5,012
Households
1.5
Avg Household Size
52
Median Age
43%
College-Educated
96%
High-School Grad
38.8 sq mi
ZIP Area
198
Density / Sq Mi
$115,423
Median Household Income
$59,126
Median Earnings
$1,308
Median Rent
$388,700
Median Home Value
Market
Vacancy Rate% for Industrial 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 - Under-construction unit combines office, storage, and an open work area within an I-zoned commercial condominium campus.
Where is this flex space located?
The property is located at 288 Hounsell Avenue Gilford, NH.
What is the asking price?
The asking price for this property is $509,900.
What are key features of this property?
This property features: 1,425 SF flex unit in Building 6; Private entrance, dedicated office, restroom, and open bay; 10' overhead door provides bay access
