New Two-Unit Flex
New
For Sale
$750,000
3 Enterprise Ct, Meredith, NH 03253
Brand-new commercial flex space with separate work areas, high-bay access, bathrooms, and vehicle-oriented functionality.
Property Size2,400 SF
Days on Market1
Property Features for 3 Enterprise Ct
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Commercial
Building Details
Building Size
2,400 SF
Year Built
2024
Units
2
Listing Agency:
keller williams coastal realty
Listed By:
Adam Dow · License #056660
(866) 525-3946
Source:
Elliman
Added: Sep 4
Last Checked: Sep 4 at 2:41PM
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 coastal realty
Investment Insights
Based on property information with market context.
Completed in 2024, this commercial flex property contains two separately configured units on 1.83 acres. Each unit includes a 12' x 12' high-bay garage door, its own water heater, and a full bathroom with shower. The layout supports distinct business operations while accommodating workspace, storage, or a combination of both.
The property is positioned near NH Route 106 and NH Route 104, with nearby commercial destinations including Meredith Village Savings Bank, NH Liquor Outlet, Ocean State Job Lot, and self-storage facilities. The site is car-dependent, with a Walk Score of 0 and a Bike Score of 31. Its two-unit configuration and independent building systems provide practical flexibility for an owner-user or multiple commercial occupants.
The property is positioned near NH Route 106 and NH Route 104, with nearby commercial destinations including Meredith Village Savings Bank, NH Liquor Outlet, Ocean State Job Lot, and self-storage facilities. The site is car-dependent, with a Walk Score of 0 and a Bike Score of 31. Its two-unit configuration and independent building systems provide practical flexibility for an owner-user or multiple commercial occupants.
Key Highlights
- Two‑unit commercial flex building completed in 2024
- Situated on 1.83 acres
- Each unit has a 12' x 12' high‑bay garage door
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
$27,496
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
3.67%
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%
$549,920
$549.9K
Cap Rate 7%
$392,800
$392.8K
Cap Rate 9%
$305,511
$305.5K
Market Conditions
NOI Build-Up for 2,400 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
$46.1K $19.20/SF
− Vacancy
−$3.8K −$1.57/SF
EGI
$42.3K $17.63/SF
− OpEx
−$14.8K −$6.17/SF
NOI
$27.5K $11.46/SF
Area
Belknap County, NH
Vacancy
8.20%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
35.00%
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%
$549,920
Cap Rate 7%
$392,800
Cap Rate 9%
$305,511
Alternative Uses
Best Use
Flex RnD
$392.8K
$343.7K – $458.3K
NOI $27,496 @ 7.0% cap · market cap 3.67%
Second Best
Warehouse
$351.3K
$307.4K – $409.8K
NOI $24,588 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$570.7K
$499.4K – $665.9K
NOI $39,951 @ 7.0% cap · market cap 5.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
117
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 03253, NH
6,558
Population
5,111
Households
1.3
Avg Household Size
54
Median Age
44%
College-Educated
97%
High-School Grad
37.5 sq mi
ZIP Area
175
Density / Sq Mi
$69,808
Median Household Income
$40,587
Median Earnings
$1,230
Median Rent
$444,500
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Brand-new commercial flex space with separate work areas, high-bay access, bathrooms, and vehicle-oriented functionality.
Where is this flex space located?
The property is located at 3 Enterprise Ct Meredith, NH.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two‑unit commercial flex building completed in 2024; Situated on 1.83 acres; Each unit has a 12' x 12' high‑bay garage door
