Multi-Tenant Flex
For Sale
$2,100,000
94 River Road, Hudson, NH 03051
Commercial Sale, Hudson, NH
Property Size16,320 SF
Lot Size2.82 Acres
Price / SF$128.68
Days on Market211
Property Features for 94 River Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
G1 - General One
Lot features
Level
Standard status
Active
Lot size
2.82 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
24064
Utilities
Heating system
Propane (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
2004
Building materials
Steel Frame, Brick Veneer Exterior
Roof type
Flat, Membrane
Listing Agency:
KW Coastal and Lakes & Mountains Realty · Keller Williams Realty
(603) 610-8500
Listed By:
Ethan Ash · License ##071469
(603) 610-8500
Added: Jan 23
Changed: Aug 20
Last Checked: Aug 22 at 4:06PM
MLS# 5074905
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 multi-tenant flex property at 94 River Road includes warehouse space, an office area, a drive-in door, and a loading dock. The building was constructed in 2004 with a steel frame, brick veneer exterior, flat membrane roofing, central air, propane heating, and public water service. Approximately half of the building is associated with a proposed sale-leaseback by the current owner, while the balance provides additional industrial space.
The property occupies 2.82 acres in Hudson, NH, with access to Interstates 93 and 495 and proximity to the Massachusetts border. Its configuration and existing improvements support industrial operations described in the property information, including manufacturing, distribution, warehouse, and contractor uses.
The property occupies 2.82 acres in Hudson, NH, with access to Interstates 93 and 495 and proximity to the Massachusetts border. Its configuration and existing improvements support industrial operations described in the property information, including manufacturing, distribution, warehouse, and contractor uses.
Key Highlights
- 2.82‑acre industrial property at 94 River Road, Hudson, NH 03051
- 16,320+/- SF multi‑tenant industrial building
- Constructed in 2004 with steel frame and brick veneer exterior
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
$176,818
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
8.42%
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%
$3,536,360
$3.5M
Cap Rate 7%
$2,525,971
$2.5M
Cap Rate 9%
$1,964,644
$2.0M
Market Conditions
NOI Build-Up for 16,320 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
$221.3K $13.56/SF
− Vacancy
−$13.3K −$0.81/SF
EGI
$208.0K $12.75/SF
− OpEx
−$31.2K −$1.91/SF
NOI
$176.8K $10.83/SF
Area
Hillsborough County, NH
Vacancy
6.00%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
15.00%
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%
$3,536,360
Cap Rate 7%
$2,525,971
Cap Rate 9%
$1,964,644
Alternative Uses
Best Use
Warehouse
$2.53M
$2.21M – $2.95M
NOI $176,818 @ 7.0% cap · market cap 8.42%
Second Best
Industrial
$2.00M
$1.75M – $2.33M
NOI $139,912 @ 7.0% cap · market cap 6.66%
Theoretical Best
Specialty Retail
$29.90M
$26.16M – $34.88M
NOI $2,093,040 @ 7.0% cap · market cap 99.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
1
Drive-in doors
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 03051, NH
25,394
Population
10,080
Households
2.5
Avg Household Size
44
Median Age
35%
College-Educated
95%
High-School Grad
28.3 sq mi
ZIP Area
897
Density / Sq Mi
$124,973
Median Household Income
$60,768
Median Earnings
$1,615
Median Rent
$407,100
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial property with warehouse, office, loading, and drive-in facilities near Interstates 93 and 495.
Where is this flex space located?
The property is located at 94 River Road Hudson, NH.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 2.82‑acre industrial property at 94 River Road, Hudson, NH 03051; 16,320+/- SF multi‑tenant industrial building; Constructed in 2004 with steel frame and brick veneer exterior
