Building Details

Construction steel frame

Listing Agency: KW Coastal and Lakes & Mountains Realty/Meredith a***@kwclm.com Show Phone

Listed By: Shannon L Casey · License #072839 Show Phone

Source: Exprealty

Added: Sep 2 Changed: Oct 26 Last Checked: Oct 24 at 7:00PM

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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 KW Coastal and Lakes & Mountains Realty/Meredith

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Investment Insights

Based on property information with market context.

This 1,425-square-foot flex condominium in Building 3 combines a dedicated office, restroom, private entry, and open work bay. A 14' x 14' overhead door supports convenient movement of equipment and materials. The steel-frame construction is paired with propane heat and a layout that accommodates office, storage, workshop, and warehouse functions.

Granite Ridge is a professionally engineered commercial condominium campus in Gilford’s commercial district. The property includes town water and sewer, underground utilities, 3-phase power, and fiber optic connectivity. Its location provides access for clients, employees, and deliveries, with Lake Winnipesaukee and Gunstock Mountain Resort just minutes away.

Key Highlights

• ±1,425 sq ft flex unit in Building 3
• 14' x 14' overhead door serving the open bay
• Private entrance, dedicated office, restroom, and storage area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,326

Cap Rate

3.47%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$326,520 $326.5K

Cap Rate 7%

$233,229 $233.2K

Cap Rate 9%

$181,400 $181.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,425 SF

Gross rent

$27.4K $19.20/SF

− Vacancy

−$2.2K −$1.57/SF

EGI

$25.1K $17.63/SF

− OpEx

−$8.8K −$6.17/SF

NOI

$16.3K $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 Rate 5%

$326,520

Cap Rate 7%

$233,229

Cap Rate 9%

$181,400

Alternative Uses

Best Use

Flex RnD

$233.2K

$204.1K – $272.1K (±1% cap)

NOI $16,326 @ 7.0% cap · market cap 3.47%

Second Best

Warehouse

$208.6K

$182.5K – $243.3K (±1% cap)

NOI $14,599 @ 7.0% cap · market cap 3.11%

Theoretical Best

Office A

$338.9K

$296.5K – $395.4K (±1% cap)

NOI $23,721 @ 7.0% cap · market cap 5.05%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Big Box & Wholesale Store Restaurant Building Supply Auto Parts Store Parking Lot & Garage

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

Lease Details

1

Drive-in doors

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

279

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 03246, NH

16,905

Population

10,426

Households

1.6

Avg Household Size

47

Median Age

25%

College-Educated

93%

High-School Grad

19.9 sq mi

ZIP Area

849

Density / Sq Mi

$68,407

Median Household Income

$40,504

Median Earnings

$1,180

Median Rent

$307,800

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

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Frequently Asked Questions

What type of property is this?

Flex space - Commercial condominium unit combining office, warehouse, and storage areas with utility infrastructure suited to flexible business operations.

Where is this flex space located?

The property is located at 302-288 Hounsell Ave Gilford, NH.

What is the asking price?

The asking price for this property is $469,900.

What are key features of this property?

This property features: ±1,425 sq ft flex unit in Building 3; 14' x 14' overhead door serving the open bay; Private entrance, dedicated office, restroom, and storage area