Flex Unit with 10' Overhead
For Sale
$509,900
288 Hounsell Avenue #602, Gilford, NH 03249
Commercial condominium flex space with dedicated office, restroom, and a 10' overhead door for efficient loading access.
Property Size1,425 SF
Price / SF$357.82
Days on Market47
Property Features for 288 Hounsell Avenue #602
General Information
Standard status
Active
Size
1,425 SF
Zoning
I
Warehouse & Industrial
Drive-In Doors
1
Heavy Power
Yes
Additional Details
Utilities to Site
Yes
Building Details
Year Built
2026
Listing Agency:
KW Coastal and Lakes & Mountains Realty/Meredith
(603) 630-3343
Listed By:
Shannon Casey · License #072839
(603) 630-3343
Source:
Laerrealty
Added: Jul 7
Changed: Aug 9
Last Checked: Aug 22 at 3:51AM
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 Granite Ridge commercial flex unit (Building 6) is offered as a condominium ownership opportunity with a private entrance. The layout includes a dedicated office area and a restroom, along with a spacious open bay designed to support both day-to-day operations and storage. Service and delivery access is provided through a 10' overhead door, and the unit is built with modern steel building systems intended for durability.
The property is located at 288 Hounsell Avenue in Gilford, within a professionally engineered Granite Ridge campus in the Lakes Region. The community is supported by town water and sewer, underground utilities, 3-phase power, propane heat, and fiber optic connectivity. The setting is described as being within Gilford’s commercial district, providing convenient access for clients, employees, and deliveries.
For buyers who want one place to run the business and store equipment, this flex configuration can accommodate a range of operational needs, including trade and service work, inventory storage, and workshop-style use. The combination of office space, restroom, and direct overhead-door access supports a practical workflow for teams that require both customer-facing space and an efficient back-of-house area.
The property is located at 288 Hounsell Avenue in Gilford, within a professionally engineered Granite Ridge campus in the Lakes Region. The community is supported by town water and sewer, underground utilities, 3-phase power, propane heat, and fiber optic connectivity. The setting is described as being within Gilford’s commercial district, providing convenient access for clients, employees, and deliveries.
For buyers who want one place to run the business and store equipment, this flex configuration can accommodate a range of operational needs, including trade and service work, inventory storage, and workshop-style use. The combination of office space, restroom, and direct overhead-door access supports a practical workflow for teams that require both customer-facing space and an efficient back-of-house area.
Key Highlights
- 1,425 SF commercial flex unit in Building 6 within Granite Ridge Commercial condominium community
- Unit layout includes dedicated office area, restroom, and a spacious open bay
- Open bay features a 10' overhead door for loading and easy 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
$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
3.71%
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 3.71%
Second Best
Flex RnD
$233.2K
$204.1K – $272.1K
NOI $16,326 @ 7.0% cap · market cap 3.20%
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
1
Drive-in doors
Yes
Heavy power
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 - Commercial condominium flex space with dedicated office, restroom, and a 10' overhead door for efficient loading access.
Where is this flex space located?
The property is located at 288 Hounsell Avenue #602 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 commercial flex unit in Building 6 within Granite Ridge Commercial condominium community; Unit layout includes dedicated office area, restroom, and a spacious open bay; Open bay features a 10' overhead door for loading and easy access
