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    118 Portsmouth Ave Stratham, NH 03885

    Sponsored
    For Lease
    $15 SF/Yr

    Premium Office Suites Available Now

    Lot size:
    40,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional Class A office building, constructed in 2019 and renovated in 2020, offers 40,000 square feet of versatile space across three buildings. Located at 118 Portsmouth Ave, Stratham, NH 03885, this property boasts six suites ranging from 391 to 15,000 square feet, with 21,180 square feet currently vacant. Ideal for traditional, medical, executive, co-working, or creative office uses, the building features ample parking, elevators, and is ADA compliant. Its prime location offers easy access to major highways (Route 101 and Interstate 95), commerce centers, and hospitals, while enjoying a park-like setting with beautiful landscaping and views. The property is zoned commercial and benefits from a high-traffic location near numerous amenities. Stratham's desirable location, close to beaches, mountains, lakes, Portsmouth, Boston, and Maine, coupled with an estimated household income exceeding $118,000, makes this an exceptional investment opportunity. Suites are delivered as a "vanilla box" with allowances for tenant improvements. This is a rare opportunity to secure high-quality office space in a thriving New Hampshire Seacoast community.

    Property Features for 118 Portsmouth Ave

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    40,000 SF
    Class
    A
    Total Rate
    50000

    Building Details

    Year Built/Renovated
    2019/2020
    Buildings
    3
    Stories
    2

    Unit(s) available at that property

    Space
    A2
    Size
    1,747 SF
    Rate per SF
    $19
    Space
    B1A
    Size
    1,400 SF
    Rate per SF
    $15
    Space
    B1B
    Size
    391 SF
    Rate per SF
    $15
    Space
    B2A
    Size
    1,342 SF
    Rate per SF
    $15
    Space
    C
    Size
    15,000 SF
    Rate per SF
    $25
    Space
    D205
    Size
    1,300 SF
    Rate per SF
    $20

    HighLights

    • Class A office building, 40,000 square feet, constructed 2019, renovated 2020.
    • Located at 118 Portsmouth Ave, Stratham, NH 03885.
    • Six suites (391 - 15,000 sq ft), 21,180 sq ft currently vacant.
    • Ample parking, elevators, ADA compliant.
    • Excellent highway access (Route 101 & I‑95), near commerce centers & hospitals.
    • High‑traffic location, zoned commercial, "vanilla box" tenant improvements.
    Property Profile Location Intelligence

    Current Use by Public Records

    Cristin Zaimes Physical Therapist Core Pediatrics - Stratham Pediatrician Dr. Elizabeth S. ... Doctor Center For Reproductive Care: ... Doctor Compass Retirement Consulting ... Financial Consultant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Stratham
    County
    Rockingham
    State
    New Hampshire
    Longitude
    -70.9155423
    Latitude
    43.0194835

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    FAQs

    What type of property is this?
    Office space - Premium Office Suites Available Now
    Where is this office space located?
    The property is located at 118 Portsmouth Ave Stratham, NH.
    What is the lease rate?
    The lease rate is $15-$25 SF/Yr.
    What are key features of this property?
    This property features: Class A office building, 40,000 square feet, constructed 2019, renovated 2020.; Located at 118 Portsmouth Ave, Stratham, NH 03885.; Six suites (391 - 15,000 sq ft), 21,180 sq ft currently vacant.
    Request Owner's contact information
    118 Portsmouth Ave Stratham, NH 03885
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    Stratham, NH 03885
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    118 Portsmouth Ave Stratham, NH 03885
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