Updated Downtown Office
For Sale
Under Contract
$500,000
35 E Pearl Street, Nashua, NH 03060
Commercial Sale, Nashua, NH
Property Size2,500 SF
Lot Size0.09 Acres
Price / SF$200
Days on Market147
Property Features for 35 E Pearl Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Downtown Mixed Use
Rooms
Basement
Standard status
Active Under Contract
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5926
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1900
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: Mar 31
Changed: Aug 20
Last Checked: Aug 24 at 11:06AM
MLS# 5081464
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.
This well-maintained, two-story office building at 35 East Pearl Street is being offered vacant, providing flexibility for an owner-user, investor, or single- or multi-tenant configuration. Recent work includes new flooring, windows, HVAC systems, exterior painting, and a hot water tank. The roof was replaced approximately ten years ago. The property includes a basement, forced-air natural gas heating, central air, public water, and a shingle roof.
Located in downtown Nashua, the building is within walking distance of the courthouse, municipal offices, and Main Street amenities. Public transportation includes local bus routes, while nearby communities provide commuter rail connections. On-site parking is supplemented by additional leased parking nearby and on-street metered parking.
The property is situated in the Downtown Mixed Use district, where office, mixed-use, and potential residential conversion uses may be available subject to municipal approvals. The lot measures 0.088 acres, and the building dates to 1900.
Located in downtown Nashua, the building is within walking distance of the courthouse, municipal offices, and Main Street amenities. Public transportation includes local bus routes, while nearby communities provide commuter rail connections. On-site parking is supplemented by additional leased parking nearby and on-street metered parking.
The property is situated in the Downtown Mixed Use district, where office, mixed-use, and potential residential conversion uses may be available subject to municipal approvals. The lot measures 0.088 acres, and the building dates to 1900.
Key Highlights
- Downtown Mixed Use zoning supports office, mixed‑use, and potential residential conversion subject to municipal approvals
- Two‑story office building delivered vacant with single- or multi‑tenant configuration options
- Recent updates include flooring, windows, HVAC systems, exterior paint, and a hot water tank
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
$43,892
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
8.78%
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%
$877,840
$877.8K
Cap Rate 7%
$627,029
$627.0K
Cap Rate 9%
$487,689
$487.7K
Market Conditions
NOI Build-Up for 2,500 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
$67.5K $27.00/SF
− Vacancy
−$9.0K −$3.59/SF
EGI
$58.5K $23.41/SF
− OpEx
−$14.6K −$5.85/SF
NOI
$43.9K $17.56/SF
Area
Hillsborough County, NH
Vacancy
13.30%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
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%
$877,840
Cap Rate 7%
$627,029
Cap Rate 9%
$487,689
Alternative Uses
Best Use
Office B
$627.0K
$548.7K – $731.5K
NOI $43,892 @ 7.0% cap · market cap 8.78%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.58M
$4.01M – $5.34M
NOI $320,625 @ 7.0% cap · market cap 64.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,832
Businesses Nearby
Explore this area
Business Placement
Demographics for 03060, NH
31,251
Population
13,003
Households
2.4
Avg Household Size
37
Median Age
31%
College-Educated
88%
High-School Grad
6.6 sq mi
ZIP Area
4,735
Density / Sq Mi
$78,068
Median Household Income
$44,628
Median Earnings
$1,539
Median Rent
$338,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Vacant two-story office property with Downtown Mixed Use zoning and flexible single- or multi-tenant potential.
Where is this office building located?
The property is located at 35 E Pearl Street Nashua, NH.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Downtown Mixed Use zoning supports office, mixed‑use, and potential residential conversion subject to municipal approvals; Two‑story office building delivered vacant with single- or multi‑tenant configuration options; Recent updates include flooring, windows, HVAC systems, exterior paint, and a hot water tank
