Ground-Floor Retail
New
For Sale
$1,195,000
53 Green St, Portsmouth, NH 03801
Cold, dark shell offers flexibility for a custom commercial build-out.
Property Size2,828 SF
Price / SF$422.56
Days on Market3
Property Features for 53 Green St
General Information
Standard status
Active
Size
2,828 SF
Total Parking Spaces
2
Property subtype
Commercial
Additional Details
Floor
Ground
Listing Agency:
The Boulos Company
(603) 781-6546
Listed By:
Kent White · License #052480
(603) 781-6546
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 3:15PM
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 The Boulos Company
Investment Insights
Based on property information with market context.
This ground-floor commercial condominium contains 2,828 square feet and is planned for delivery as a cold, dark shell. The unfinished condition allows the interior layout and improvements to be tailored to the eventual business concept. The property includes two dedicated onsite parking spaces and is scheduled for anticipated delivery in Spring 2027.
The condominium is part of The Maris, a luxury residential development in downtown Portsmouth’s waterfront setting. The surrounding location has a Walk Score of 67 and a Bike Score of 59. Residential units above the commercial space add an established built-in presence to the development.
The condominium is part of The Maris, a luxury residential development in downtown Portsmouth’s waterfront setting. The surrounding location has a Walk Score of 67 and a Bike Score of 59. Residential units above the commercial space add an established built-in presence to the development.
Key Highlights
- 2,828‑square‑foot ground‑floor commercial condominium
- Cold, dark shell supports a customized interior build‑out
- Two dedicated onsite parking spaces included
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
$38,617
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
3.23%
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%
$772,340
$772.3K
Cap Rate 7%
$551,671
$551.7K
Cap Rate 9%
$429,078
$429.1K
Market Conditions
NOI Build-Up for 2,828 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
$59.4K $21.00/SF
− Vacancy
−$7.9K −$2.79/SF
EGI
$51.5K $18.21/SF
− OpEx
−$12.9K −$4.55/SF
NOI
$38.6K $13.66/SF
Area
Strafford County, NH
Vacancy
13.30%
Lease Rate
$21.00 /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%
$772,340
Cap Rate 7%
$551,671
Cap Rate 9%
$429,078
Alternative Uses
Best Use
Office B
$551.7K
$482.7K – $643.6K
NOI $38,617 @ 7.0% cap · market cap 3.23%
Second Best
Retail
$489.7K
$428.5K – $571.3K
NOI $34,279 @ 7.0% cap · market cap 2.87%
Theoretical Best
Office A
$756.6K
$662.0K – $882.7K
NOI $52,961 @ 7.0% cap · market cap 4.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,561
Businesses Nearby
Explore this area
Business Placement
Demographics for 03801, NH
22,767
Population
11,448
Households
2
Avg Household Size
43
Median Age
63%
College-Educated
98%
High-School Grad
23.8 sq mi
ZIP Area
957
Density / Sq Mi
$106,520
Median Household Income
$65,984
Median Earnings
$1,783
Median Rent
$647,500
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?
Retail space - Cold, dark shell offers flexibility for a custom commercial build-out.
Where is this retail space located?
The property is located at 53 Green St Portsmouth, NH.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: 2,828‑square‑foot ground‑floor commercial condominium; Cold, dark shell supports a customized interior build‑out; Two dedicated onsite parking spaces included
