Eight-Unit Industrial
For Sale
Contact for pricing
51 Harvey Road, Londonderry, NH 03053
Multi-tenant industrial space with heavy three-phase power, dock access, and drive-in loading at most units.
Property Size22,250 SF
Lot Size2.09 Acres
Price / SF$130.34
Days on Market14
Property Features for 51 Harvey Road
General Information
Standard status
Active
Size
22,250 SF
Class
B
Total Parking Spaces
54
Lot size
2.09 Acres
Property subtype
Retail, Industrial
Zoning
Industrial II
Occupancy
91%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$233,219
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
18 ft
Three-Phase Power
Yes
Heavy Power
Yes
Building Details
Year Built
1980
Buildings
1
Units
8
Tenancy
Multi
Building Size
22,250 SF
Listing Agency:
Marcus & Millichap - Boston
(617) 896-7218
Listed By:
Luigi Lessa · License #9566627
Source:
Crexi
Added: Jul 28
Changed: Aug 8
Last Checked: Aug 10 at 8:21AM
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 Marcus & Millichap - Boston
Investment Insights
Based on property information with market context.
This 22,250-square-foot industrial warehouse contains eight units on 2.09 acres and was built in 1980. The property is zoned Industrial II and includes heavy three-phase power, private dock and drive-in access at most units, and 18-foot clear heights in the larger warehouse bays. LED lighting, public water and sewer, and surface parking across two dedicated lots support ongoing industrial operations.
All units are currently occupied by a combination of long-term and month-to-month tenants. Ownership is willing to structure a three-year sale-leaseback for a buyer seeking continued occupancy before a future transition. The property is positioned within the Manchester-Boston Regional Airport industrial corridor, with access to I-293 Exits 1 and 2 and connectivity to I-93 and Route 28.
All units are currently occupied by a combination of long-term and month-to-month tenants. Ownership is willing to structure a three-year sale-leaseback for a buyer seeking continued occupancy before a future transition. The property is positioned within the Manchester-Boston Regional Airport industrial corridor, with access to I-293 Exits 1 and 2 and connectivity to I-93 and Route 28.
Key Highlights
- 22,250‑square‑foot industrial building with eight units on 2.09 acres
- Industrial II zoning with heavy three‑phase power
- Private dock and drive‑in access at most units
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
$162,478
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
5.60%
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%
$3,249,560
$3.2M
Cap Rate 7%
$2,321,114
$2.3M
Cap Rate 9%
$1,805,311
$1.8M
Market Conditions
NOI Build-Up for 22,250 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
$202.9K $9.12/SF
− Vacancy
−$11.8K −$0.53/SF
EGI
$191.2K $8.59/SF
− OpEx
−$28.7K −$1.29/SF
NOI
$162.5K $7.30/SF
Area
Rockingham County, NH
Vacancy
5.80%
Lease Rate
$9.12 /SF/Yr
Expense Ratio
15.00%
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%
$3,249,560
Cap Rate 7%
$2,321,114
Cap Rate 9%
$1,805,311
Alternative Uses
Best Use
Warehouse
$2.32M
$2.03M – $2.71M
NOI $162,478 @ 7.0% cap · market cap 5.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.41M
$6.48M – $8.64M
NOI $518,535 @ 7.0% cap · market cap 17.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
Yes
Heavy power
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
118
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 03053, NH
25,646
Population
9,751
Households
2.6
Avg Household Size
42
Median Age
49%
College-Educated
97%
High-School Grad
41.7 sq mi
ZIP Area
615
Density / Sq Mi
$132,241
Median Household Income
$60,812
Median Earnings
$1,837
Median Rent
$464,100
Median Home Value
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
- U-Pack — 52 Wentworth Ave, Londonderry, NH 03053
Frequently Asked Questions
What type of property is this?
Warehouse - Multi-tenant industrial space with heavy three-phase power, dock access, and drive-in loading at most units.
Where is this warehouse located?
The property is located at 51 Harvey Road Londonderry, NH.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 22,250‑square‑foot industrial building with eight units on 2.09 acres; Industrial II zoning with heavy three‑phase power; Private dock and drive‑in access at most units
