Office Building with Multiple
For Sale
Under Contract
$475,000
87 Washington Street, Conway, NH 03818
Commercial Sale, Conway, NH
Property Size4,600 SF
Lot Size1.00 Acre
Price / SF$103.26
Days on Market95
Property Features for 87 Washington Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
VC
Rooms
Basement
Directions
Rt 16 North, turn left at the first light onto Washington Street, property will be on the right just before the split with East Side Road.
Standard status
Active Under Contract
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2026
Utilities
Utilities
Cable Available
Heating system
Forced Air, Hot Water(Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1900
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle, Metal
Listing Agency:
Badger Peabody & Smith Realty
(603) 356-5757
Listed By:
Austin Hale · License #73972
(603) 444-1294
Added: May 20
Changed: Aug 20
Last Checked: Aug 22 at 2:06AM
MLS# 5089878
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 1900 wood-frame office building occupies 1 acre and is configured with 15+ separate offices along with several conference spaces. The property has been maintained with vinyl siding, a shingle and metal roof system, forced-air and hot-water heating, and central air conditioning. A basement is also included. The building is currently used for office administration and is zoned VC.
Public water and sewer serve the property, with cable available. Access to Route 16 is immediate, while North Conway Village is minutes to the north. The Saco River is located nearby, and the property is situated on Washington Street in Conway, New Hampshire.
Public water and sewer serve the property, with cable available. Access to Route 16 is immediate, while North Conway Village is minutes to the north. The Saco River is located nearby, and the property is situated on Washington Street in Conway, New Hampshire.
Key Highlights
- 15+ separate offices plus several conference spaces
- 1‑acre commercial property in Conway, NH
- Immediate access to Route 16
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
$32,304
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
6.80%
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%
$646,080
$646.1K
Cap Rate 7%
$461,486
$461.5K
Cap Rate 9%
$358,933
$358.9K
Market Conditions
NOI Build-Up for 4,600 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
$62.1K $13.50/SF
− Vacancy
−$8.3K −$1.80/SF
EGI
$53.8K $11.70/SF
− OpEx
−$21.5K −$4.68/SF
NOI
$32.3K $7.02/SF
Area
Carroll County, NH
Vacancy
13.30%
Lease Rate
$13.50 /SF/Yr
Expense Ratio
40.00%
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%
$646,080
Cap Rate 7%
$461,486
Cap Rate 9%
$358,933
Alternative Uses
Best Use
Office B
$904.9K
$791.8K – $1.06M
NOI $63,342 @ 7.0% cap · market cap 13.34%
Second Best
Healthcare Medical
$461.5K
$403.8K – $538.4K
NOI $32,304 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,402 @ 7.0% cap · market cap 16.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
378
Businesses Nearby
Explore this area
Business Placement
Demographics for 03818, NH
3,478
Population
2,174
Households
1.6
Avg Household Size
49
Median Age
43%
College-Educated
95%
High-School Grad
84.5 sq mi
ZIP Area
41
Density / Sq Mi
$73,346
Median Household Income
$38,714
Median Earnings
$941
Median Rent
$284,200
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 building - Wood-frame commercial property with conference areas, public utilities, and potential for continued office or medical use.
Where is this office building located?
The property is located at 87 Washington Street Conway, NH.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 15+ separate offices plus several conference spaces; 1‑acre commercial property in Conway, NH; Immediate access to Route 16
