Mixed-Use Shell
For Sale
Contact for pricing
84 Pleasant Street, Portsmouth, NH 03801
Existing structure supports redevelopment into street-level commercial space with residential units above.
Property Size14,032 SF
Price / SF$124.71
Days on Market11
Property Features for 84 Pleasant Street
General Information
Standard status
Active
Size
14,032 SF
Class
C
Property subtype
Retail, Multifamily, Mixed Use
Zoning
CD4
Investment Type
Redevelopment
Property Condition
Severity
Major Repairs Needed
Evidence
significant rehabilitation
Building Details
Year Built
1850
Buildings
1
Units
5
Listing Agency:
Keller Williams Coastal and Lakes & Mountains Realty
Listed By:
Nathan Dickey · License #NH 154118
Source:
Crexi
Added: Aug 25
Changed: Sep 1
Last Checked: Sep 1 at 9:53PM
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 Keller Williams Coastal and Lakes & Mountains Realty
Investment Insights
Based on property information with market context.
Located at 84 Pleasant Street in downtown Portsmouth, this 14,032-square-foot mixed-use property comprises an existing shell requiring significant rehabilitation. The structure dates to 1850 and provides an established building framework for a comprehensive redevelopment project.
The CD4-zoned property is positioned within downtown Portsmouth, with access to restaurants, shops, galleries, entertainment, the waterfront, and year-round activity. The contemplated configuration places commercial space at street level with residential units above, subject to applicable approvals and redevelopment requirements.
The CD4-zoned property is positioned within downtown Portsmouth, with access to restaurants, shops, galleries, entertainment, the waterfront, and year-round activity. The contemplated configuration places commercial space at street level with residential units above, subject to applicable approvals and redevelopment requirements.
Key Highlights
- 14,032‑square‑foot mixed‑use property in downtown Portsmouth
- Existing shell structure offers a framework for significant rehabilitation
- CD4 zoning
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
$141,153
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
8.07%
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%
$2,823,060
$2.8M
Cap Rate 7%
$2,016,471
$2.0M
Cap Rate 9%
$1,568,367
$1.6M
Market Conditions
NOI Build-Up for 14,032 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
$244.2K $17.40/SF
− Vacancy
−$18.3K −$1.31/SF
EGI
$225.8K $16.10/SF
− OpEx
−$84.7K −$6.04/SF
NOI
$141.2K $10.06/SF
Area
Strafford County, NH
Vacancy
7.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
37.50%
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%
$2,823,060
Cap Rate 7%
$2,016,471
Cap Rate 9%
$1,568,367
Alternative Uses
Best Use
Mixed Use
$2.02M
$1.76M – $2.35M
NOI $141,153 @ 7.0% cap · market cap 8.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.75M
$3.28M – $4.38M
NOI $262,780 @ 7.0% cap · market cap 15.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,422
Businesses Nearby
Explore this area
Business Placement
Demographics for 03801, NH
22,767
Population
11,448
Households
2
Avg Household Size
43
Median Age
63%
College-Educated
98%
High-School Grad
23.8 sq mi
ZIP Area
957
Density / Sq Mi
$106,520
Median Household Income
$65,984
Median Earnings
$1,783
Median Rent
$647,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Existing structure supports redevelopment into street-level commercial space with residential units above.
Where is this mixed-use property located?
The property is located at 84 Pleasant Street Portsmouth, NH.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 14,032‑square‑foot mixed‑use property in downtown Portsmouth; Existing shell structure offers a framework for significant rehabilitation; CD4 zoning
