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    Turnkey Tire Shop with Overhead Doors Title is generated by Realmo AI

    500 Maplewood Avenue, Portsmouth, NH 03801

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    COMMERCIAL - Portsmouth, NH

    Lot size:
    1.20 Acres
    Added:
    Oct 16, 2024
    Days on Market:
    596
    Last Refresh:
    Jun 3 at 8:06 pm

    Property Features for 500 Maplewood Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    C
    Standard status
    Active
    Lot size
    1.20 Acres

    Utilities

    Water source
    Public

    Building Details

    Year built
    1945

    We can help!

    Listing Contact
    Janet Faulkner
    Janet Faulkner

    Listing agent Janet Faulkner License #066987

    Listing office Keller Williams Realty Success 138 River Road, Andover, NH

    Listing date Oct 16, 2024

    MLS# 5018888

    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

    • 1945‑built tire shop/garage lease with public water service.
    • Four overhead doors fronting Route 1 Bypass in Portsmouth.
    • Lease space comes fully outfitted with tire shop equipment, including a tire balancer, compressor, tire machine, and tire racks.
    • Formerly Hanscom's Truck Stop.
    • NNN lease structure: tenant pays proportionate share of property expenses and utilities in addition to base rent.

    Overview

    This turnkey tire shop is configured to support vehicle service with four overhead doors along the front of the property. The lease includes industry-specific equipment such as a tire balancer, compressor, tire machine, and truck tire racks, along with other associated items needed to operate a tire shop. The property is offered on an NNN basis under zoning described as C.

    The facility fronts on the Route 1 Bypass in Portsmouth. It is located less than a half mile from the Portsmouth Traffic Circle and Interstate 95, providing straightforward highway-oriented access for customers and commercial traffic.

    The space is well suited for an operator looking for a ready-to-run tire service business, with service-oriented improvements already in place. Under the NNN structure, the tenant pays base rent plus a proportionate share of property expenses and utilities. Prospective tenants are encouraged to perform their own due diligence regarding any contemplated tenancy.
    Property Profile Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Pharmacy Auto Repair Shop

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

    Similar Places Nearby

    • Precision Auto Service — 54 Bartlett St, Portsmouth, NH 03801
    • 2 Brothers Garage, LLC — 685 Islington St, Portsmouth, NH 03801
    • Portsmouth Chevrolet, INC. — 549 US-1, Portsmouth, NH 03801
    • Budget Blinds of the Seacoast — 105 Bartlett St Unit 202, Portsmouth, NH 03801
    • Key Auto Group — 549 US-1 BYP, Portsmouth, NH 03801

    Location Insight

    • Map
    • Local Demand
    City
    Portsmouth
    County
    Strafford
    State
    New Hampshire
    Longitude
    -70.770887
    Latitude
    43.080219

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    FAQs

    What type of property is this?
    Auto shop - Four overhead doors and turnkey tire-shop equipment make this NNN lease ready to operate along Route 1 Bypass.
    Where is this auto shop located?
    The property is located at 500 Maplewood Avenue Portsmouth, NH.
    What are key features of this property?
    This property features: 1945‑built tire shop/garage lease with public water service.; Four overhead doors fronting Route 1 Bypass in Portsmouth.; Lease space comes fully outfitted with tire shop equipment, including a tire balancer, compressor, tire machine, and tire racks.
    (978) 475-2111
    We can help!
    Listing Contact
    Janet Faulkner
    Janet Faulkner
    Real Estate License ID: 066987
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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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