Flex Condominium with Open
For Sale
$225,000
294 State Route 101 #3, Amherst, NH 03031
LC-zoned commercial condominium with parking, signage infrastructure, and a flexible interior configuration.
Property Size2,016 SF
Price / SF$111.61
Days on Market35
Property Features for 294 State Route 101 #3
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Commercial
Zoning
LC
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$2,947
Building Details
Year Built
1987
Listing Agency:
Keller Williams Realty-Metropolitan
(603) 232-8282
Listed By:
Krissy Laporte · License #069071
(603) 232-8282
Source:
Startpoint
Added: Jul 27
Changed: Aug 29
Last Checked: Aug 29 at 1:15PM
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 Keller Williams Realty-Metropolitan
Investment Insights
Based on property information with market context.
This 2,016± SF flex condominium was built in 1987 and is part of a mixed-use commercial condominium complex. The interior features an open layout, a bathroom, and a rear office area. The unit can also be divided, with shared utilities and bathroom access supporting separate occupancy within the space. Potential applications identified for the property include retail, studio, wellness, service, showroom, and light office use.
The condominium is positioned along Route 101 in Amherst’s Limited Commercial zoning district. Two roof-mounted sign brackets are already installed, and on-site parking is included. The location provides access to Bedford, Milford, Merrimack, Nashua, and Manchester.
The condominium is positioned along Route 101 in Amherst’s Limited Commercial zoning district. Two roof-mounted sign brackets are already installed, and on-site parking is included. The location provides access to Bedford, Milford, Merrimack, Nashua, and Manchester.
Key Highlights
- 2,016± SF flex condominium built in 1987
- Open layout with bathroom and rear office area
- Potential division into separate occupied areas with shared utilities and bathroom 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
$17,283
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
7.68%
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%
$345,660
$345.7K
Cap Rate 7%
$246,900
$246.9K
Cap Rate 9%
$192,033
$192.0K
Market Conditions
NOI Build-Up for 2,016 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
$26.1K $12.96/SF
− Vacancy
−$1.4K −$0.71/SF
EGI
$24.7K $12.25/SF
− OpEx
−$7.4K −$3.67/SF
NOI
$17.3K $8.57/SF
Area
Hillsborough County, NH
Vacancy
5.50%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
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%
$345,660
Cap Rate 7%
$246,900
Cap Rate 9%
$192,033
Alternative Uses
Best Use
Retail
$402.8K
$352.5K – $469.9K
NOI $28,196 @ 7.0% cap · market cap 12.53%
Second Best
Industrial
$246.9K
$216.0K – $288.1K
NOI $17,283 @ 7.0% cap · market cap 7.68%
Theoretical Best
Specialty Retail
$3.69M
$3.23M – $4.31M
NOI $258,552 @ 7.0% cap · market cap 114.91%
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
32
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 03031, NH
11,763
Population
4,558
Households
2.6
Avg Household Size
45
Median Age
64%
College-Educated
99%
High-School Grad
33.9 sq mi
ZIP Area
347
Density / Sq Mi
$155,125
Median Household Income
$68,313
Median Earnings
$1,447
Median Rent
$491,400
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 - LC-zoned commercial condominium with parking, signage infrastructure, and a flexible interior configuration.
Where is this flex space located?
The property is located at 294 State Route 101 #3 Amherst, NH.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 2,016± SF flex condominium built in 1987; Open layout with bathroom and rear office area; Potential division into separate occupied areas with shared utilities and bathroom access
