Industrial Flex Building with Three
For Sale
$2,100,000
94 River Road, Hudson, NH 03051
Built in 2004, the three-unit industrial flex building offers an 85% occupancy rate and industrial-commercial zoning.
Property Size16,320 SF
Price / SF$128.68
Days on Market375
Property Features for 94 River Road
General Information
Standard status
Active
Size
16,320 SF
Property subtype
Commercial
Zoning
Industrial-Commercial Mix
Occupancy
85%
Building Details
Year Built
2004
Tenancy
Multi
Listing Agency:
KW Coastal and Lakes & Mountains Realty
(603) 707-2319
Listed By:
Ethan Ash · License ##071469
Source:
Aultcommercial
Added: Aug 14, 2025
Changed: Aug 23
Last Checked: Aug 23 at 4:35AM
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 KW Coastal and Lakes & Mountains Realty
Investment Insights
Based on property information with market context.
This 16,320 SF industrial flex building was built in 2004 and includes three units. The property is currently 85% occupied, making it a multi-tenant option within an industrial-commercial mix zoning framework.
The property is located at 94 River Rd in Hudson, NH 03051. The area is described as somewhat bikeable with a car-dependent setting.
For tenants or owners seeking adaptable industrial flex space, the three-unit configuration provides multiple setups within a single building while maintaining strong current occupancy.
The property is located at 94 River Rd in Hudson, NH 03051. The area is described as somewhat bikeable with a car-dependent setting.
For tenants or owners seeking adaptable industrial flex space, the three-unit configuration provides multiple setups within a single building while maintaining strong current occupancy.
Key Highlights
- 3‑unit industrial flex building totaling 16,320 SF, built in 2004
- Industrial‑commercial mix zoning
- 85% occupancy rate
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
$139,912
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
6.66%
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%
$2,798,240
$2.8M
Cap Rate 7%
$1,998,743
$2.0M
Cap Rate 9%
$1,554,578
$1.6M
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
$211.5K $12.96/SF
− Vacancy
−$11.6K −$0.71/SF
EGI
$199.9K $12.25/SF
− OpEx
−$60.0K −$3.67/SF
NOI
$139.9K $8.57/SF
Area
Hillsborough County, NH
Vacancy
5.50%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
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%
$2,798,240
Cap Rate 7%
$1,998,743
Cap Rate 9%
$1,554,578
Alternative Uses
Best Use
Industrial
$2.00M
$1.75M – $2.33M
NOI $139,912 @ 7.0% cap · market cap 6.66%
Second Best
Flex RnD
$1.88M
$1.65M – $2.20M
NOI $131,751 @ 7.0% cap · market cap 6.27%
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
85%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
94
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Built in 2004, the three-unit industrial flex building offers an 85% occupancy rate and industrial-commercial zoning.
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: 3‑unit industrial flex building totaling 16,320 SF, built in 2004; Industrial‑commercial mix zoning; 85% occupancy rate
