Multi-Tenant Retail
For Sale
$10,000,000
Pending
6 Airfield Drive, Rye, NH 03870
Lot B includes a 60,000 SF multi-tenant retail building, with two additional commercially zoned vacant lots available for development.
Property Size60,000 SF
Days on Market36
Property Features for 6 Airfield Drive
General Information
Standard status
Pending
Size
60,000 SF
Zoning
COM
Taxes and HOA fees
Annual Taxes
$36,422
Amenities
No
no
Wet
60000
100
Septic
Adequate
1041084
Yes
900
2
Building Details
Year Built
2001
Tenancy
Multi
Listing Agency:
Compass | Portsmouth
(603) 568-0533
Listed By:
Donna Marston
(603) 568-0533
Source:
Homequestnh.idxbroker
Added: Jul 25
Changed: Aug 27
Last Checked: Aug 28 at 7:03AM
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 Compass | Portsmouth
Investment Insights
Based on property information with market context.
The Rye Airfield property in Rye, New Hampshire includes three commercially zoned lots. Lot B is improved with a 60,000 SF multi-tenant building, while Lots A and C are vacant and available for development as commercial or multi-family residential. A rent roll is available with a signed non-disclosure agreement, and the lots can be purchased separately.
The property is located at 6 Airfield Drive. Additional information is available through the broker, including rent roll details under NDA.
The property is located at 6 Airfield Drive. Additional information is available through the broker, including rent roll details under NDA.
Key Highlights
- Rye Airfield in Rye, NH includes three commercially zoned lots: Lot B plus Lots A and C
- Lot B is improved with a 60,000 SF multi‑tenant retail building
- Lots A and C are vacant and can be developed as commercial or multi‑family residential
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
$848,232
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
8.48%
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%
$16,964,640
$17.0M
Cap Rate 7%
$12,117,600
$12.1M
Cap Rate 9%
$9,424,800
$9.4M
Market Conditions
NOI Build-Up for 60,000 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
$1.30M $21.60/SF
− Vacancy
−$84.2K −$1.40/SF
EGI
$1.21M $20.20/SF
− OpEx
−$363.5K −$6.06/SF
NOI
$848.2K $14.14/SF
Area
Rockingham County, NH
Vacancy
6.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$16,964,640
Cap Rate 7%
$12,117,600
Cap Rate 9%
$9,424,800
Alternative Uses
Best Use
Retail
$12.12M
$10.60M – $14.14M
NOI $848,232 @ 7.0% cap · market cap 8.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$19.98M
$17.48M – $23.30M
NOI $1,398,298 @ 7.0% cap · market cap 13.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
Explore this area
Business Placement
Demographics for 03870, NH
5,234
Population
2,653
Households
2
Avg Household Size
54
Median Age
58%
College-Educated
98%
High-School Grad
12.1 sq mi
ZIP Area
433
Density / Sq Mi
$127,772
Median Household Income
$72,398
Median Earnings
$1,521
Median Rent
$927,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Lot B includes a 60,000 SF multi-tenant retail building, with two additional commercially zoned vacant lots available for development.
Where is this retail space located?
The property is located at 6 Airfield Drive Rye, NH.
What is the asking price?
The asking price for this property is $10,000,000.
What are key features of this property?
This property features: Rye Airfield in Rye, NH includes three commercially zoned lots: Lot B plus Lots A and C; Lot B is improved with a 60,000 SF multi‑tenant retail building; Lots A and C are vacant and can be developed as commercial or multi‑family residential
