Corner Property Redevelopment
For Sale
$749,000
9 Chestnut St, Dover, NH 03820
Four-story mixed-use property with redevelopment potential.
Property Size6,598 SF
Lot Size0.11 Acres
Days on Market111
Property Features for 9 Chestnut St
General Information
Standard status
Active
Size
6,598 SF
Lot size
0.11 Acres
Property subtype
Commercial
Building Details
Building Size
6,598 SF
Year Built
1850
Units
1
Listing Agency:
keller williams coastal realty
(603) 834-2242
Listed By:
Ben Airey
(603) 834-2242
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 11 at 10:40AM
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 realty
Investment Insights
Based on property information with market context.
Located at the corner of Chestnut and Lincoln St., this four-story property presents a compelling redevelopment or adaptive reuse opportunity. The property is zoned for multiple uses, including residential on upper floors, professional offices, retail, and personal services, offering flexibility to match a wide range of business or investment strategies. Currently home to a well-established and long time automotive parts business, the property sits on a 0.11 acre parcel and includes office space plus 5 parking spaces. The location offers high exposure with endless potential. The walk score is 81, indicating it is very walkable, and the bike score is 35, indicating it is somewhat bikeable.
Key Highlights
- High Walk Score (81) - Very Walkable Location
- Flexible Zoning - Multiple Uses Permitted (Residential, Office, Retail, Services)
- Redevelopment or Adaptive Reuse Opportunity
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
$66,372
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
8.86%
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%
$1,327,440
$1.3M
Cap Rate 7%
$948,171
$948.2K
Cap Rate 9%
$737,467
$737.5K
Market Conditions
NOI Build-Up for 6,598 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
$114.8K $17.40/SF
− Vacancy
−$8.6K −$1.31/SF
EGI
$106.2K $16.10/SF
− OpEx
−$39.8K −$6.04/SF
NOI
$66.4K $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%
$1,327,440
Cap Rate 7%
$948,171
Cap Rate 9%
$737,467
Alternative Uses
Best Use
Office B
$1.29M
$1.13M – $1.50M
NOI $90,097 @ 7.0% cap · market cap 12.03%
Second Best
Retail
$1.14M
$999.7K – $1.33M
NOI $79,976 @ 7.0% cap · market cap 10.68%
Theoretical Best
Office A
$1.77M
$1.54M – $2.06M
NOI $123,562 @ 7.0% cap · market cap 16.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,438
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four-story mixed-use property with redevelopment potential.
Where is this mixed-use property located?
The property is located at 9 Chestnut St Dover, NH.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: High Walk Score (81) - **Very Walkable Location**; Flexible Zoning - Multiple Uses Permitted (Residential, Office, Retail, Services); Redevelopment or Adaptive Reuse Opportunity
