Flex Space with Overhead
New
For Sale
$489,900
288 Hounsell Avenue #502, Gilford, NH 03249
A commercial condominium unit combines office, restroom, and open-bay space with private access.
Property Size1,425 SF
Price / SF$343.79
Days on Market2
Property Features for 288 Hounsell Avenue #502
General Information
Standard status
Active
Size
1,425 SF
Zoning
I
Additional Details
Utilities to Site
Yes
Three-Phase Power
Yes
Building Details
Year Built
2026
Construction
steel building systems
Listing Agency:
KW Coastal and Lakes & Mountains Realty/Meredith
Listed By:
Shannon Casey · License #072839
(603) 630-3343
Source:
Laerrealty
Added: Sep 4
Last Checked: Sep 5 at 4:11AM
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.
This 1,425-square-foot flex condominium in Building 5 provides a practical mix of office, warehouse, and storage space. The unit includes a private entrance, dedicated office, restroom, and open bay served by a 14' x 14' overhead door. Steel construction supports the building’s commercial configuration, while propane heat and fiber optic connectivity are in place for day-to-day operations.
The property is located at 288 Hounsell Avenue in Gilford’s commercial district, within a professionally engineered campus. Town water and sewer, underground utilities, and 3-phase power serve the development. The site is minutes from Lake Winnipesaukee and Gunstock Mountain Resort, with access suited to business activity, deliveries, and client visits. Zoning is I, and the building was constructed in 2026.
The property is located at 288 Hounsell Avenue in Gilford’s commercial district, within a professionally engineered campus. Town water and sewer, underground utilities, and 3-phase power serve the development. The site is minutes from Lake Winnipesaukee and Gunstock Mountain Resort, with access suited to business activity, deliveries, and client visits. Zoning is I, and the building was constructed in 2026.
Key Highlights
- 1,425 SF flex condominium unit in Building 5
- 14' x 14' overhead door serving the open bay
- Private entrance, dedicated office, and restroom
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
$18,903
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
3.86%
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%
$378,060
$378.1K
Cap Rate 7%
$270,043
$270.0K
Cap Rate 9%
$210,033
$210.0K
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
$29.1K $20.40/SF
− Vacancy
−$3.9K −$2.71/SF
EGI
$25.2K $17.69/SF
− OpEx
−$6.3K −$4.42/SF
NOI
$18.9K $13.27/SF
Area
Belknap County, NH
Vacancy
13.30%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
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%
$378,060
Cap Rate 7%
$270,043
Cap Rate 9%
$210,033
Alternative Uses
Best Use
Office B
$270.0K
$236.3K – $315.1K
NOI $18,903 @ 7.0% cap · market cap 3.86%
Second Best
Flex RnD
$233.2K
$204.1K – $272.1K
NOI $16,326 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$338.9K
$296.5K – $395.4K
NOI $23,721 @ 7.0% cap · market cap 4.84%
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - A commercial condominium unit combines office, restroom, and open-bay space with private access.
Where is this flex space located?
The property is located at 288 Hounsell Avenue #502 Gilford, NH.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: 1,425 SF flex condominium unit in Building 5; 14' x 14' overhead door serving the open bay; Private entrance, dedicated office, and restroom
