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    Office Suite with Two Entrances Title is generated by Realmo AI

    374 Union Street, Peterborough, NH 03458

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    COMMERCIAL - Peterborough, NH

    Property size:
    685 SF
    Added:
    Nov 14, 2025
    Days on Market:
    203
    Last Refresh:
    Jun 5 at 10:06 am

    Property Features for 374 Union Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    Commercial / Residential
    Standard status
    Active

    Utilities

    Utilities
    Cable Available
    Water source
    Public

    We can help!

    Listing Contact
    Colin Murdough

    Listing agent Colin Murdough

    Listing office Duston Leddy Real Estate 45 Main St, Portsmouth, NH

    Listing date Nov 14, 2025

    MLS# 5069652

    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.

    HighLights

    • 685 SF office suite in a historic mill building with high ceilings and exposed beams
    • 3 separate office or studio spaces plus a common area
    • Half bath and plumbing available for a kitchenette area
    • Two separate entrances for the suite
    • Water source: public; cable available

    Overview

    This 685-square-foot office suite in a historic mill building offers a flexible layout for work or small studio use. The space includes a shared common area, three separate office or studio rooms, and a half bath. Plumbing is already in place for a kitchenette area, supporting everyday convenience for clients and staff. The suite also provides two separate entrances, which can help with tenant workflow and scheduling.

    Located at 374 Union Street in Peterborough, the building sits along the Nubanusit River. The setting includes the ability to walk to Nature’s Green Grocer for lunch during the workday. The Union Mill is a mixed-use property with residential units, offices, and retail space, and the mill’s period details are complemented by completed modernization. Features include high ceilings and exposed beams, preserving the character of the structure.

    Designed for tenants who want distinct rooms within a period-inspired environment, this suite can suit professional offices or studio-based functions needing a practical, self-contained configuration. With three separate spaces, a half bath, and kitchenette plumbing, the layout supports day-to-day operations without requiring significant interior rework. Zoning is listed as Commercial/Residential, aligning with a range of office use within the property.
    Property Profile Location Intelligence

    Current Use by Public Records

    Nature's Green Grocer Grocery & Convenience Store SOUL Yoga, Healing ... Gym & Fitness Center Walking Tree Zen Temple John Van Besien ... Photography Service

    Suggested Use

    Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Gym & Fitness Center Kitchen & Bath Showroom Food Market Storage Facility Electrical Service Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Peterborough
    County
    Hillsborough
    State
    New Hampshire
    Longitude
    -71.9838956
    Latitude
    42.8865069

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    FAQs

    What type of property is this?
    Office units - Historic mill office suite with common area, three rooms, half bath, and kitchenette plumbing, within the Union Mill setting.
    Where is this office units located?
    The property is located at 374 Union Street Peterborough, NH.
    What are key features of this property?
    This property features: 685 SF office suite in a historic mill building with high ceilings and exposed beams; 3 separate office or studio spaces plus a common area; Half bath and plumbing available for a kitchenette area
    (603) 661-8127
    We can help!
    Listing Contact
    Colin Murdough
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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