First-Floor Office
For Sale
$105,000
8 Patriot Dr Unit 8, Dover, NH 03820
Open-plan office condominium with a kitchenette, private bathroom, and deeded parking.
Property Size572 SF
Price / SF$183.57
Days on Market25
Property Features for 8 Patriot Dr Unit 8
General Information
Standard status
Active
Size
572 SF
Total Parking Spaces
2
Additional Details
Floor
1
Highway Access
Yes
Office Units
1
Building Details
Year Built
2009
Buildings
1
Tenancy
Multi
Listing Agency:
Colliers International
(724) 553-8720
Listed By:
Abby Bachman
Source:
Lyvrealty
Added: Aug 5
Changed: Aug 28
Last Checked: Aug 28 at 8:00PM
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 Colliers International
Investment Insights
Based on property information with market context.
Unit 8 is a first-floor office condominium within a six-unit mixed-use building completed in 2009. The 572± SF layout features a substantial open work area, kitchenette, and private bathroom, with two deeded parking spaces included. The office is currently used by Mezzanine Catering, which is relocating elsewhere in Dover, NH.
The property sits just off Exit 7 on the Spaulding Turnpike/Route 16 and is less than 10 minutes from downtown Dover, NH. Its compact footprint and existing office configuration provide a straightforward setting for an owner-user or office operation.
The property sits just off Exit 7 on the Spaulding Turnpike/Route 16 and is less than 10 minutes from downtown Dover, NH. Its compact footprint and existing office configuration provide a straightforward setting for an owner-user or office operation.
Key Highlights
- 572± SF first‑floor office condominium
- Open layout with kitchenette and private bathroom
- Two deeded 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
$7,811
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
7.44%
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%
$156,220
$156.2K
Cap Rate 7%
$111,586
$111.6K
Cap Rate 9%
$86,789
$86.8K
Market Conditions
NOI Build-Up for 572 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
$12.0K $21.00/SF
− Vacancy
−$1.6K −$2.79/SF
EGI
$10.4K $18.21/SF
− OpEx
−$2.6K −$4.55/SF
NOI
$7.8K $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%
$156,220
Cap Rate 7%
$111,586
Cap Rate 9%
$86,789
Alternative Uses
Best Use
Office B
$111.6K
$97.6K – $130.2K
NOI $7,811 @ 7.0% cap · market cap 7.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$153.0K
$133.9K – $178.5K
NOI $10,712 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
189
Businesses Nearby
Explore this area
Business Placement
Demographics for 03820, NH
32,800
Population
15,460
Households
2.1
Avg Household Size
38
Median Age
49%
College-Educated
96%
High-School Grad
27.3 sq mi
ZIP Area
1,201
Density / Sq Mi
$92,793
Median Household Income
$53,890
Median Earnings
$1,540
Median Rent
$397,900
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 - Open-plan office condominium with a kitchenette, private bathroom, and deeded parking.
Where is this office units located?
The property is located at 8 Patriot Dr Unit 8 Dover, NH.
What is the asking price?
The asking price for this property is $105,000.
What are key features of this property?
This property features: 572± SF first‑floor office condominium; Open layout with kitchenette and private bathroom; Two deeded parking spaces included
