Renovated Furnished Office
For Sale
$249,000
6 Greenleaf Woods Drive, Portsmouth, NH 03801
Three private offices use glass walls and doors to balance separation with natural light.
Property Size1,418 SF
Price / SF$175.60
Days on Market181
Property Features for 6 Greenleaf Woods Drive
General Information
Standard status
Active
Size
1,418 SF
Property subtype
Commercial
Lease Term
[]
Additional Details
Furnished
Yes
Building Details
Year Built
1987
Listing Agency:
NAI Norwood Group
Listed By:
Katie Fleisher
(802) 457-2000
Source:
Williamson-group
Added: Feb 13
Changed: Aug 12
Last Checked: Aug 12 at 3:44AM
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 NAI Norwood Group
Investment Insights
Based on property information with market context.
This 1,418± SF office condominium was renovated and configured with three private offices, each incorporating glass walls and doors. The layout also includes a kitchenette and half bath, while new energy-efficient LED lighting supports the updated interior. Contemporary office furniture is included, allowing the space to be occupied without a separate furniture installation.
Constructed in 1987, the unit is located at 6 Greenleaf Woods Drive in Portsmouth, New Hampshire. Its condominium format and existing office layout provide a defined commercial setting for an owner-user or investor, without relying on additional buildout assumptions.
Constructed in 1987, the unit is located at 6 Greenleaf Woods Drive in Portsmouth, New Hampshire. Its condominium format and existing office layout provide a defined commercial setting for an owner-user or investor, without relying on additional buildout assumptions.
Key Highlights
- Renovated 1,418± SF office condominium
- Three private offices with glass walls and doors
- Kitchenette and half bath 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
$19,363
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
7.78%
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%
$387,260
$387.3K
Cap Rate 7%
$276,614
$276.6K
Cap Rate 9%
$215,144
$215.1K
Market Conditions
NOI Build-Up for 1,418 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
$29.8K $21.00/SF
− Vacancy
−$4.0K −$2.79/SF
EGI
$25.8K $18.21/SF
− OpEx
−$6.5K −$4.55/SF
NOI
$19.4K $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%
$387,260
Cap Rate 7%
$276,614
Cap Rate 9%
$215,144
Alternative Uses
Best Use
Office B
$276.6K
$242.0K – $322.7K
NOI $19,363 @ 7.0% cap · market cap 7.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$379.4K
$331.9K – $442.6K
NOI $26,555 @ 7.0% cap · market cap 10.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
635
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?
Office units - Three private offices use glass walls and doors to balance separation with natural light.
Where is this office units located?
The property is located at 6 Greenleaf Woods Drive Portsmouth, NH.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Renovated 1,418± SF office condominium; Three private offices with glass walls and doors; Kitchenette and half bath included
