Downtown Wolfeboro Commercial
For Sale
$599,000
84 Bay Street, Wolfeboro, NH 03894
2,490+ sq ft unit in the heart of downtown Wolfeboro.
Property Size2,490 SF
Price / SF$240.56
Days on Market182
Property Features for 84 Bay Street
General Information
Standard status
Active
Size
2,490 SF
Property subtype
Commercial
Building Details
Year Built
1925
Listing Agency:
Wolfeboro Bay Real Estate,LLC
(603) 569-0101
Listed By:
Heidi Peterson
(603) 763-4932
Source:
Harborlightrealty
Added: Feb 25
Changed: Aug 25
Last Checked: Aug 25 at 9:10AM
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 Wolfeboro Bay Real Estate,LLC
Investment Insights
Based on property information with market context.
Located in downtown Wolfeboro, this commercial unit, formerly a medical office, offers approximately 2,490+ sq ft of flexible space. The property features ample paved parking and accessibility via an entry ramp and steps with low-maintenance Trex decking and railings. It is serviced by town water and sewer. Situated within the Bay Street Limited Business District, the space allows for a variety of commercial, residential, or mixed-use applications, subject to buyer verification of permitted uses. The location provides walkability to downtown restaurants, shops, and marinas, and is in close proximity to Lake Winnipesaukee. The property has a walk score of 44, indicating it is car-dependent, and a bike score of 35, indicating it is somewhat bikeable.
Key Highlights
- Prime downtown Wolfeboro location, offering high visibility and walkability to amenities.
- Flexible 2,490+ sq ft space suitable for various commercial, residential, or mixed‑use applications (buyer to verify permitted uses).
- Ample paved parking.
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
$34,287
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
5.72%
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%
$685,740
$685.7K
Cap Rate 7%
$489,814
$489.8K
Cap Rate 9%
$380,967
$381.0K
Market Conditions
NOI Build-Up for 2,490 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
$53.8K $21.60/SF
− Vacancy
−$8.1K −$3.24/SF
EGI
$45.7K $18.36/SF
− OpEx
−$11.4K −$4.59/SF
NOI
$34.3K $13.77/SF
Area
Carroll County, NH
Vacancy
15.00%
Lease Rate
$21.60 /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%
$685,740
Cap Rate 7%
$489,814
Cap Rate 9%
$380,967
Alternative Uses
Best Use
Office B
$489.8K
$428.6K – $571.5K
NOI $34,287 @ 7.0% cap · market cap 5.72%
Second Best
Healthcare Medical
$249.8K
$218.6K – $291.5K
NOI $17,487 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$621.7K
$544.0K – $725.4K
NOI $43,522 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
684
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 03894, NH
6,382
Population
4,347
Households
1.5
Avg Household Size
58
Median Age
43%
College-Educated
99%
High-School Grad
47.3 sq mi
ZIP Area
135
Density / Sq Mi
$84,660
Median Household Income
$44,841
Median Earnings
$1,093
Median Rent
$435,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - 2,490+ sq ft unit in the heart of downtown Wolfeboro.
Where is this medical office space located?
The property is located at 84 Bay Street Wolfeboro, NH.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Prime downtown Wolfeboro location, offering high visibility and walkability to amenities.; Flexible 2,490+ sq ft space suitable for various commercial, residential, or mixed‑use applications (buyer to verify permitted uses).; Ample paved parking.
