Flex Space with Office and
For Sale
$499,900
288 Hounsell Avenue 101, Gilford, NH 03249
Commercial condominium unit combining private office, restroom, warehouse, and storage functions in a professionally engineered campus.
Property Size1,500 SF
Price / SF$333.27
Days on Market12
Property Features for 288 Hounsell Avenue 101
General Information
Standard status
Active
Size
1,500 SF
Additional Details
Utilities to Site
Yes
Three-Phase Power
Yes
Building Details
Construction
steel building
Listing Agency:
KW Coastal and Lakes & Mountains Realty/Meredith
(603) 630-3343
Listed By:
Shannon L Casey · License #072839
(603) 630-3343
Source:
Stevecotran
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 28 at 8:14AM
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 KW Coastal and Lakes & Mountains Realty/Meredith
Investment Insights
Based on property information with market context.
Unit 101 at Granite Ridge is a commercial condominium flex space with approximately ±1,500 sq ft arranged for office, warehouse, and storage use. The layout includes a private entrance, dedicated office, restroom, and open bay served by a 14’ overhead door. Steel building construction provides a durable framework for a range of business operations.
The property is located at 288 Hounsell Avenue in Gilford’s commercial district, within the Lakes Region and minutes from Lake Winnipesaukee and Gunstock Mountain Resort. Campus infrastructure includes town water and sewer, underground utilities, 3-phase power, propane heat, and fiber optic connectivity. The site is designed to accommodate client visits, employee access, and deliveries.
The property is located at 288 Hounsell Avenue in Gilford’s commercial district, within the Lakes Region and minutes from Lake Winnipesaukee and Gunstock Mountain Resort. Campus infrastructure includes town water and sewer, underground utilities, 3-phase power, propane heat, and fiber optic connectivity. The site is designed to accommodate client visits, employee access, and deliveries.
Key Highlights
- ±1,500 sq ft flex unit with office, warehouse, and storage areas
- Private entrance, dedicated office, restroom, and open bay
- 14’ 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
$17,185
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
3.44%
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%
$343,700
$343.7K
Cap Rate 7%
$245,500
$245.5K
Cap Rate 9%
$190,944
$190.9K
Market Conditions
NOI Build-Up for 1,500 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
$28.8K $19.20/SF
− Vacancy
−$2.4K −$1.57/SF
EGI
$26.4K $17.63/SF
− OpEx
−$9.3K −$6.17/SF
NOI
$17.2K $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%
$343,700
Cap Rate 7%
$245,500
Cap Rate 9%
$190,944
Alternative Uses
Best Use
Flex RnD
$245.5K
$214.8K – $286.4K
NOI $17,185 @ 7.0% cap · market cap 3.44%
Second Best
Warehouse
$219.5K
$192.1K – $256.1K
NOI $15,367 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$356.7K
$312.1K – $416.2K
NOI $24,970 @ 7.0% cap · market cap 4.99%
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
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial condominium unit combining private office, restroom, warehouse, and storage functions in a professionally engineered campus.
Where is this flex space located?
The property is located at 288 Hounsell Avenue 101 Gilford, NH.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: ±1,500 sq ft flex unit with office, warehouse, and storage areas; Private entrance, dedicated office, restroom, and open bay; 14’ overhead door provides bay access
