Fully Leased NNN Office
For Sale
Contact for pricing
8 Stiles Rd, Salem, NH 03079
Lease renewed through October 2027 for a professional office condo within a 12-unit complex.
Property Size2,367 SF
Price / SF$210.39
Days on Market67
Property Features for 8 Stiles Rd
General Information
Standard status
Active
Size
2,367 SF
Property subtype
RETAIL
Occupancy
100%
Additional Details
Office Units
12
Building Details
Tenancy
Single
Listing Agency:
GO Commercial
(603) 781-9069
Listed By:
Patrick Frazer · License #073449
(603) 781-9069
Source:
Moodyscre
Added: Jun 3
Changed: Aug 8
Last Checked: Aug 8 at 11:50AM
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 GO Commercial
Investment Insights
Based on property information with market context.
Fully leased NNN commercial condo at 8 Stiles Rd, Suite 106 in Salem, NH. The property is part of Park West Village, a 12-unit professional office condominium located at the lighted intersection of Stiles Road and Pelham Road.
MyEyeDr, a national eye care brand with 900+ locations, renewed their lease through October 2027. Two additional renewal options extend the lease through April 2032. The lease is NNN with no landlord responsibilities and no management obligations.
This is a single condo suite configuration within the multi-unit professional office community, offering an established occupancy profile under a lease structure that places responsibility for typical building-related items on the tenant under NNN terms.
MyEyeDr, a national eye care brand with 900+ locations, renewed their lease through October 2027. Two additional renewal options extend the lease through April 2032. The lease is NNN with no landlord responsibilities and no management obligations.
This is a single condo suite configuration within the multi-unit professional office community, offering an established occupancy profile under a lease structure that places responsibility for typical building-related items on the tenant under NNN terms.
Key Highlights
- 2367 SF NNN commercial condo, Suite 106 at 8 Stiles Rd
- MyEyeDr lease renewed through October 2027
- Two renewal options extend through April 2032
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
$40,633
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
8.16%
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%
$812,660
$812.7K
Cap Rate 7%
$580,471
$580.5K
Cap Rate 9%
$451,478
$451.5K
Market Conditions
NOI Build-Up for 2,367 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
$62.5K $26.40/SF
− Vacancy
−$8.3K −$3.51/SF
EGI
$54.2K $22.89/SF
− OpEx
−$13.5K −$5.72/SF
NOI
$40.6K $17.17/SF
Area
Rockingham County, NH
Vacancy
13.30%
Lease Rate
$26.40 /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%
$812,660
Cap Rate 7%
$580,471
Cap Rate 9%
$451,478
Alternative Uses
Best Use
Office B
$580.5K
$507.9K – $677.2K
NOI $40,633 @ 7.0% cap · market cap 8.16%
Second Best
Healthcare Medical
$506.7K
$443.4K – $591.2K
NOI $35,469 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$788.0K
$689.5K – $919.4K
NOI $55,163 @ 7.0% cap · market cap 11.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12
Office units
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,248
Businesses Nearby
Explore this area
Business Placement
Demographics for 03079, NH
30,095
Population
13,511
Households
2.2
Avg Household Size
46
Median Age
39%
College-Educated
96%
High-School Grad
24.8 sq mi
ZIP Area
1,214
Density / Sq Mi
$101,339
Median Household Income
$59,515
Median Earnings
$1,487
Median Rent
$438,500
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?
NNN property - Lease renewed through October 2027 for a professional office condo within a 12-unit complex.
Where is this nnn property located?
The property is located at 8 Stiles Rd Salem, NH.
What is the asking price?
The asking price for this property is $498,000.
What are key features of this property?
This property features: 2367 SF NNN commercial condo, Suite 106 at 8 Stiles Rd; MyEyeDr lease renewed through October 2027; Two renewal options extend through April 2032
