Two-Story Office
For Sale
$654,900
90 Stiles Rd # 202 Salem, Salem, NH 03079
Refreshed two-story office suite with reception, multiple private offices, kitchen, and three restrooms plus shower.
Property Size3,015 SF
Price / SF$217.21
Days on Market242
Property Features for 90 Stiles Rd # 202 Salem
General Information
Standard status
Active
Size
3,015 SF
Zoning
CIB
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,839
Building Details
Building Size
3,015 SF
Year Built
1988
Stories
2
Listed By:
Sharon Lucido
(508) 643-8166
Source:
Bournetosellrealestate
Added: Jan 6
Changed: Sep 2
Last Checked: Sep 4 at 2:16AM
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 Sharon Lucido
Investment Insights
Based on property information with market context.
This well-appointed two-story office suite has been recently refreshed and newly painted throughout. The second-floor layout includes an impressive reception area, six bright individual offices, and two larger team office or meeting/activity spaces. It also offers kitchen facilities and two restrooms, supporting both everyday work and client-facing use.
The third floor includes two large, flexible private offices suitable for an owner and/or manager, with dramatic windows and a skylight. A third restroom with a shower adds additional convenience for staff or visiting professionals. On-site parking is available for occupants. The property is located on Stiles Road just off Interstate 93, Exit 2, within an established mix of professional businesses that include medical, tech, engineering, and office management.
The configuration is well suited for professional teams needing dedicated offices plus shared meeting or activity space, along with kitchen and multiple restroom options. With immediate occupancy noted, this suite offers an ownership option for an office organization looking to take control of its workspace while maintaining a functional, multi-level layout.
The third floor includes two large, flexible private offices suitable for an owner and/or manager, with dramatic windows and a skylight. A third restroom with a shower adds additional convenience for staff or visiting professionals. On-site parking is available for occupants. The property is located on Stiles Road just off Interstate 93, Exit 2, within an established mix of professional businesses that include medical, tech, engineering, and office management.
The configuration is well suited for professional teams needing dedicated offices plus shared meeting or activity space, along with kitchen and multiple restroom options. With immediate occupancy noted, this suite offers an ownership option for an office organization looking to take control of its workspace while maintaining a functional, multi-level layout.
Key Highlights
- Two‑story office suite in Salem, NH, built in 1988
- 2nd‑floor layout includes reception, 6 individual offices, and 2 team work/meeting or activity spaces
- Includes kitchen facilities and 2 restrooms on the 2nd floor
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
$51,757
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
7.90%
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%
$1,035,140
$1.0M
Cap Rate 7%
$739,386
$739.4K
Cap Rate 9%
$575,078
$575.1K
Market Conditions
NOI Build-Up for 3,015 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
$79.6K $26.40/SF
− Vacancy
−$10.6K −$3.51/SF
EGI
$69.0K $22.89/SF
− OpEx
−$17.3K −$5.72/SF
NOI
$51.8K $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%
$1,035,140
Cap Rate 7%
$739,386
Cap Rate 9%
$575,078
Alternative Uses
Best Use
Office B
$739.4K
$647.0K – $862.6K
NOI $51,757 @ 7.0% cap · market cap 7.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.00M
$878.3K – $1.17M
NOI $70,264 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
33
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?
Office units - Refreshed two-story office suite with reception, multiple private offices, kitchen, and three restrooms plus shower.
Where is this office units located?
The property is located at 90 Stiles Rd # 202 Salem Salem, NH.
What is the asking price?
The asking price for this property is $654,900.
What are key features of this property?
This property features: Two‑story office suite in Salem, NH, built in 1988; 2nd‑floor layout includes reception, 6 individual offices, and 2 team work/meeting or activity spaces; Includes kitchen facilities and 2 restrooms on the 2nd floor
