Flex Space with Dual
For Sale
$225,000
294 State Route 101, Amherst, NH 03031
Commercial Sale, Amherst, NH
Property Size2,016 SF
Price / SF$111.61
Days on Market72
Property Features for 294 State Route 101
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
LC
Subdivision
Greeley Point Condominium
Directions
Just after Amherst Garden Center and Pine Rd if you are coming from Bedford
Standard status
Active
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2947
Utilities
Heating system
Forced Air, Electric (Heating)
Cooling system
Central Air
Water source
Private
Building Details
Year built
1987
Building materials
Wood Frame, Clapboard Exterior
Roof type
Shingle
Listing Agency:
Keller Williams Realty-Metropolitan
(603) 232-8282
Listed By:
Krissy LaPorte
(603) 232-8282
Added: Jun 12
Changed: Aug 20
Last Checked: Aug 22 at 8:06PM
MLS# 5094469
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.
Unit 3 at 294 State Route 101 provides 2,016+/- SF within a mixed-use condominium complex in Amherst. The interior combines an open central area with enclosed rooms at the rear, an in-unit bathroom, and entrances at both the front and back. The space may support retail, showroom, studio, wellness, professional service, or light office functions, subject to applicable approvals and condominium requirements. Interior division and partial subletting may also be possible under those requirements.
The property includes on-site parking and roof brackets for two signs facing the Route 101 corridor. Building improvements include wood-frame construction with a clapboard exterior, a shingle roof, forced-air electric heat, central air, and private water. Built in 1987, the unit is zoned LC and offers access to Bedford, Milford, Merrimack, Nashua, and Manchester.
The property includes on-site parking and roof brackets for two signs facing the Route 101 corridor. Building improvements include wood-frame construction with a clapboard exterior, a shingle roof, forced-air electric heat, central air, and private water. Built in 1987, the unit is zoned LC and offers access to Bedford, Milford, Merrimack, Nashua, and Manchester.
Key Highlights
- 2,016+/- SF flex commercial condominium unit
- Open central area with enclosed rear rooms and an in‑unit bathroom
- Front and rear entrances provide dual 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
Industrial
$246.9K
$216.0K – $288.1K
NOI $17,283 @ 7.0% cap · market cap 7.68%
Second Best
Flex RnD
$232.5K
$203.4K – $271.3K
NOI $16,275 @ 7.0% cap · market cap 7.23%
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
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
103
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 - Open commercial layout with enclosed rear rooms, an in-unit bathroom, and a configuration suited to varied business operations.
Where is this flex space located?
The property is located at 294 State Route 101 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 commercial condominium unit; Open central area with enclosed rear rooms and an in‑unit bathroom; Front and rear entrances provide dual access
