Flex Retail and Warehouse
For Sale
Contact for pricing
471 NH RTE 11, Farmington, NH 03835
Fully built-out restaurant with drive-thru, plus substantial garage and high-bay warehouse space and a second-floor office area.
Property Size6,514 SF
Price / SF$168.87
Days on Market123
Property Features for 471 NH RTE 11
General Information
Standard status
Active
Size
6,514 SF
Class
B
Property subtype
Retail
Zoning
CB
Investment Type
Owner/User
Building Details
Year Built
2004
Buildings
3
Stories
2
Listing Agency:
KW Commercial
Listed By:
ERIC LEVIN · License #068272
(603) 610-8500
Source:
Crexi
Added: May 12
Changed: Sep 10
Last Checked: Sep 10 at 7:58AM
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 Commercial
Investment Insights
Based on property information with market context.
The property includes a fully built-out restaurant featuring expansive storefront windows, customer seating, a service counter, commercial kitchen infrastructure, walk-in refrigeration, prep areas, utility/storage, multiple restrooms, and drive-thru infrastructure. A large paved parking area supports customer access.
In addition to the restaurant component, the building offers substantial garage space with multiple overhead doors, high-bay access, flexible work/storage areas, and separate entrances. A finished second-floor office/lounge area includes a kitchenette and bathroom, creating options for office, conference, employee, training, or workspace use. The property also includes public water and existing signage potential, with flexible commercial/industrial zoning.
Positioned with easy access to Rte 11 and Route 16 in Farmington, NH, the site is approximately 3.5 miles from The Ridge Marketplace in Rochester, which includes Market Basket, Hobby Lobby, Ulta Beauty, Marshalls, Petco, Starbucks, NH Liquor & Wine Outlet, and other major national retailers.
In addition to the restaurant component, the building offers substantial garage space with multiple overhead doors, high-bay access, flexible work/storage areas, and separate entrances. A finished second-floor office/lounge area includes a kitchenette and bathroom, creating options for office, conference, employee, training, or workspace use. The property also includes public water and existing signage potential, with flexible commercial/industrial zoning.
Positioned with easy access to Rte 11 and Route 16 in Farmington, NH, the site is approximately 3.5 miles from The Ridge Marketplace in Rochester, which includes Market Basket, Hobby Lobby, Ulta Beauty, Marshalls, Petco, Starbucks, NH Liquor & Wine Outlet, and other major national retailers.
Key Highlights
- Fully built‑out restaurant with customer seating, service counter, and commercial kitchen infrastructure
- Includes walk‑in refrigeration, prep areas, utility/storage room, multiple restrooms, and drive‑thru
- Expansive storefront with large paved parking area, multiple entrances, and high visibility frontage
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
$88,621
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
8.06%
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%
$1,772,420
$1.8M
Cap Rate 7%
$1,266,014
$1.3M
Cap Rate 9%
$984,678
$984.7K
Market Conditions
NOI Build-Up for 6,514 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
$148.5K $22.80/SF
− Vacancy
−$12.2K −$1.87/SF
EGI
$136.3K $20.93/SF
− OpEx
−$47.7K −$7.33/SF
NOI
$88.6K $13.60/SF
Area
Strafford County, NH
Vacancy
8.20%
Lease Rate
$22.80 /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%
$1,772,420
Cap Rate 7%
$1,266,014
Cap Rate 9%
$984,678
Alternative Uses
Best Use
Specialty Retail
$1.45M
$1.27M – $1.69M
NOI $101,517 @ 7.0% cap · market cap 9.23%
Second Best
Flex RnD
$1.27M
$1.11M – $1.48M
NOI $88,621 @ 7.0% cap · market cap 8.06%
Theoretical Best
Office A
$1.74M
$1.52M – $2.03M
NOI $121,989 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
63
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 03835, NH
6,758
Population
2,994
Households
2.3
Avg Household Size
44
Median Age
20%
College-Educated
89%
High-School Grad
36.8 sq mi
ZIP Area
184
Density / Sq Mi
$63,704
Median Household Income
$33,333
Median Earnings
$963
Median Rent
$273,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Just Us Cardinals, LLC — 78 Main St, Farmington, NH 03835
Frequently Asked Questions
What type of property is this?
Flex space - Fully built-out restaurant with drive-thru, plus substantial garage and high-bay warehouse space and a second-floor office area.
Where is this flex space located?
The property is located at 471 NH RTE 11 Farmington, NH.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Fully built‑out restaurant with customer seating, service counter, and commercial kitchen infrastructure; Includes walk‑in refrigeration, prep areas, utility/storage room, multiple restrooms, and drive‑thru; Expansive storefront with large paved parking area, multiple entrances, and high visibility frontage
