Flex Building with Drive-In
For Sale
$2,300,000
8 Chestnut Drive, Bedford, NH 03110
Commercial Sale, Bedford, NH
Property Size18,000 SF
Lot Size1.72 Acres
Price / SF$127.78
Days on Market122
Property Features for 8 Chestnut Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CO
Directions
State Rte 101 to Chestnut Dr
Standard status
Active
Lot size
1.72 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
14922
Utilities
Heating system
Oil, Propane (Heating), Forced Air
Cooling system
Central Air
Water source
Private
Building Details
Year built
1962
Building materials
Wood Frame, Clapboard Exterior
Roof type
Shingle
Listing Agency:
Keller Williams Realty-Metropolitan
(603) 232-8282
Listed By:
Krissy LaPorte
(603) 232-8282
Added: Apr 23
Changed: Aug 20
Last Checked: Aug 22 at 2:06PM
MLS# 5085059
Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This approximately +/-18,000 SF flex property combines roughly +/-8,000 SF of office area with +/-10,000 SF of warehouse space across five units. Three units have drive-in doors and 9-10 foot clear heights. The office component has separate entrances and can be divided into two units, while the overall layout supports owner occupancy, leased space, or a combination of both. Construction dates to 1962, with wood-frame and clapboard exterior materials, central air, forced-air heating, and a shingle roof.
Located at 8 Chestnut Drive in Bedford, the property offers access to New Hampshire Route 101 and signage exposure directly on the route. Portions of the warehouse are occupied under month-to-month agreements, and the owner is willing to lease back approximately 4,000-5,000 SF of office space. Zoning is CO, and the 1.72-acre property uses a private water source.
Located at 8 Chestnut Drive in Bedford, the property offers access to New Hampshire Route 101 and signage exposure directly on the route. Portions of the warehouse are occupied under month-to-month agreements, and the owner is willing to lease back approximately 4,000-5,000 SF of office space. Zoning is CO, and the 1.72-acre property uses a private water source.
Key Highlights
- Approximately +/-18,000 SF combining +/-8,000 SF of office and +/-10,000 SF of warehouse
- Five flex units, including three with drive‑in doors and 9‑10 foot clear heights
- Office area can be divided into two units with separate entrances
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
$195,020
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%
$3,900,400
$3.9M
Cap Rate 7%
$2,786,000
$2.8M
Cap Rate 9%
$2,166,889
$2.2M
Market Conditions
NOI Build-Up for 18,000 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
$244.1K $13.56/SF
− Vacancy
−$14.6K −$0.81/SF
EGI
$229.4K $12.75/SF
− OpEx
−$34.4K −$1.91/SF
NOI
$195.0K $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%
$3,900,400
Cap Rate 7%
$2,786,000
Cap Rate 9%
$2,166,889
Alternative Uses
Best Use
Office B
$4.51M
$3.95M – $5.27M
NOI $316,022 @ 7.0% cap · market cap 13.74%
Second Best
Warehouse
$2.79M
$2.44M – $3.25M
NOI $195,020 @ 7.0% cap · market cap 8.48%
Theoretical Best
Specialty Retail
$32.98M
$28.86M – $38.48M
NOI $2,308,500 @ 7.0% cap · market cap 100.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10 ft
Clear height
3
Drive-in doors
Multi-tenant
Tenancy
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 - Mixed office and warehouse property with adaptable suites, existing occupancy, and Route 101 signage exposure.
Where is this flex space located?
The property is located at 8 Chestnut Drive 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: Approximately +/-18,000 SF combining +/-8,000 SF of office and +/-10,000 SF of warehouse; Five flex units, including three with drive‑in doors and 9‑10 foot clear heights; Office area can be divided into two units with separate entrances
