Two-Story Office Suite with
For Sale
$654,900
90 Stiles Rd # 202, Salem, NH 03079
Refreshed two-story office suite with multiple private offices, reception areas, kitchen, and on-site parking.
Property Size3,015 SF
Price / SF$217.21
Days on Market232
Property Features for 90 Stiles Rd # 202
General Information
Standard status
Active
Size
3,015 SF
Property subtype
Commercial
Zoning
CIB
Taxes and HOA fees
Annual Taxes
$4,839
Building Details
Building Size
3,015 SF
Year Built
1988
Listing Agency:
Coldwell Banker Realty - Marblehead
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jan 6
Changed: Aug 24
Last Checked: Aug 25 at 5:19AM
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 Coldwell Banker Realty - Marblehead
Investment Insights
Based on property information with market context.
This well-appointed two-story office suite is recently refreshed and newly painted throughout. The second floor features an impressive reception area, six bright individual offices, and two larger team office or meeting/activity spaces, along with kitchen facilities and two restrooms. The third floor includes two large, flexible private offices with dramatic windows and skylight, plus a third restroom with a shower.
Located at 90 Stiles Rd in Salem, this office suite sits just off Interstate 93 at Exit 2, with a surrounding mix of professional businesses including medical, tech, engineering, and office management.
The suite offers immediate occupancy and multiple occupant and workspace options within a flexible office configuration across both levels.
Located at 90 Stiles Rd in Salem, this office suite sits just off Interstate 93 at Exit 2, with a surrounding mix of professional businesses including medical, tech, engineering, and office management.
The suite offers immediate occupancy and multiple occupant and workspace options within a flexible office configuration across both levels.
Key Highlights
- Two‑story office suite built in 1988, recently refreshed and newly painted throughout
- 2nd floor: reception area, 6 private offices, plus 2 large team work/meeting or activity spaces
- 2nd floor includes kitchen facilities and 2 restrooms
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
Location Intelligence
Trade Area within ½ mile
1,298
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 multiple private offices, reception areas, kitchen, and on-site parking.
Where is this office units located?
The property is located at 90 Stiles Rd # 202 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 built in 1988, recently refreshed and newly painted throughout; 2nd floor: reception area, 6 private offices, plus 2 large team work/meeting or activity spaces; 2nd floor includes kitchen facilities and 2 restrooms
