Building Details

Buildings 4

Units 157

Listing Agency: ParaSell Inc s***@parasellinc.com Show Phone

Listed By: Scott Reid · License #9009637

Source: Crexi

Added: Jan 28 Changed: Aug 20 Last Checked: Aug 19 at 12:10PM

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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 ParaSell Inc

Investment Insights

Based on property information with market context.

Executive Bay Storage is a stabilized, cash-flowing investment opportunity located in Greenfield, New Hampshire. The property features 19,000 net rentable square feet, comprising 157 units. Situated 30 miles west of Manchester, New Hampshire, it benefits from the surrounding sub-cities of Milford, Peterborough, Keene and Wilford. The property maintains high occupancy levels, with physical occupancy in the 90s and an economic occupancy of 121%. A key feature of this property is its rental rate potential. Current achieved rental rates are the lowest among competitors, with asking rates falling even further behind, over 40% below the nearest competitor. The storage facility is well-maintained and includes paved drive aisles, full perimeter fencing, and a controlled gate code entry system.

Key Highlights

• Significant rental rate increase potential (over 40% below nearest competitor).
• High economic occupancy of 121%.
• Stabilized, cash‑flowing investment opportunity.

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

$176,198

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

7.66%

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%

$3,523,960 $3.5M

Cap Rate 7%

$2,517,114 $2.5M

Cap Rate 9%

$1,957,756 $2.0M

Market Conditions

NOI Build-Up for 19,000 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

$273.6K $14.40/SF

− Vacancy

−$21.9K −$1.15/SF

EGI

$251.7K $13.25/SF

− OpEx

−$75.5K −$3.97/SF

NOI

$176.2K $9.27/SF

Area

Hillsborough County, NH

Vacancy

8.00%

Lease Rate

$14.40 /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%

$3,523,960

Cap Rate 7%

$2,517,114

Cap Rate 9%

$1,957,756

Alternative Uses

Best Use

Self Storage

$2.52M

$2.20M – $2.94M (±1% cap)

NOI $176,198 @ 7.0% cap · market cap 7.66%

Second Best

Industrial

$2.33M

$2.04M – $2.71M (±1% cap)

NOI $162,888 @ 7.0% cap · market cap 7.08%

Theoretical Best

Specialty Retail

$34.81M

$30.46M – $40.61M (±1% cap)

NOI $2,436,750 @ 7.0% cap · market cap 105.95%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Executive Bay Storage ... Storage Facility

Suggested Use

Top Pick Parking Lot & Garage Plumbing Service Storage Facility Dental Office Kitchen & Bath Showroom Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

14

Businesses Nearby

Explore this area Business Placement

Demographics for 03047, NH

1,727

Population

742

Households

2.3

Avg Household Size

44

Median Age

28%

College-Educated

95%

High-School Grad

26.4 sq mi

ZIP Area

65

Density / Sq Mi

$99,038

Median Household Income

$48,505

Median Earnings

$1,174

Median Rent

$314,500

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this self storage facilities located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Self storage facility - Cash-flowing storage facility with significant rental rate upside.

Where is this self storage facility located?

The property is located at 295 Sawmill Rd Greenfield, NH.

What is the asking price?

The asking price for this property is $2,300,000.

What are key features of this property?

This property features: Significant rental rate increase potential (over 40% below nearest competitor).; High economic occupancy of 121%.; Stabilized, cash‑flowing investment opportunity.