Flex Building with Drive-In
For Sale
Contact for pricing
8 Chestnut Dr, Bedford, NH 03110
Office and warehouse areas support owner occupancy alongside existing month-to-month tenancy.
Property Size18,000 SF
Price / SF$127.61
Days on Market133
Property Features for 8 Chestnut Dr
General Information
Standard status
Active
Size
18,000 SF
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
10 ft
Warehouse Space
10,000 SF
Office Build-Out
8,000 SF
Drive-In Doors
4
Building Details
Buildings
1
Building Size
18,000 SF
Listing Agency:
KW Commercial, NH
(603) 303-9542
Listed By:
Krissy LaPorte · License #085144,NH
(603) 303-9542
Source:
Moodyscre
Added: Apr 20
Changed: Aug 30
Last Checked: Aug 30 at 5:54AM
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 KW Commercial, NH
Investment Insights
Based on property information with market context.
This flex property combines approximately 8,000 SF of office area with approximately 10,000 SF of warehouse space arranged across five units. Four units have drive-in doors, and clear heights range from 9–10 feet. The office area can be separated into two suites with independent entrances, supporting multiple occupancy arrangements. The warehouse portion includes tenants on month-to-month agreements, while the owner is willing to lease back approximately 4,000–5,000 SF of office space. This structure provides a combination of usable space and in-place tenancy for an owner user or investor.
The property has signage exposure directly on New Hampshire Route 101, with convenient access to the highway and a location within Bedford’s primary commercial corridor.
The property has signage exposure directly on New Hampshire Route 101, with convenient access to the highway and a location within Bedford’s primary commercial corridor.
Key Highlights
- Five flex units, including four with drive‑in doors
- Approximately 8,000 SF of office space and 10,000 SF of warehouse space
- Warehouse tenants occupy space on month‑to‑month agreements
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
$195,280
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
8.49%
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%
$3,905,600
$3.9M
Cap Rate 7%
$2,789,714
$2.8M
Cap Rate 9%
$2,169,778
$2.2M
Market Conditions
NOI Build-Up for 18,024 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
$244.4K $13.56/SF
− Vacancy
−$14.7K −$0.81/SF
EGI
$229.7K $12.75/SF
− OpEx
−$34.5K −$1.91/SF
NOI
$195.3K $10.83/SF
Area
Hillsborough County, NH
Vacancy
6.00%
Lease Rate
$13.56 /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%
$3,905,600
Cap Rate 7%
$2,789,714
Cap Rate 9%
$2,169,778
Alternative Uses
Best Use
Office B
$4.52M
$3.96M – $5.27M
NOI $316,443 @ 7.0% cap · market cap 13.76%
Second Best
Warehouse
$2.79M
$2.44M – $3.25M
NOI $195,280 @ 7.0% cap · market cap 8.49%
Theoretical Best
Specialty Retail
$33.02M
$28.89M – $38.53M
NOI $2,311,578 @ 7.0% cap · market cap 100.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10 ft
Clear height
4
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
404
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 03110, NH
23,322
Population
8,185
Households
2.8
Avg Household Size
44
Median Age
61%
College-Educated
97%
High-School Grad
32.8 sq mi
ZIP Area
711
Density / Sq Mi
$160,253
Median Household Income
$70,344
Median Earnings
$1,913
Median Rent
$582,000
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?
Flex space - Office and warehouse areas support owner occupancy alongside existing month-to-month tenancy.
Where is this flex space located?
The property is located at 8 Chestnut Dr Bedford, NH.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Five flex units, including four with drive‑in doors; Approximately 8,000 SF of office space and 10,000 SF of warehouse space; Warehouse tenants occupy space on month‑to‑month agreements
