Conveniently Located Office
For Sale
Contact for pricing
Pending
103 Stiles Rd, Salem, NH 03079
Office building near I-93 and Manchester-Boston Regional Airport.
Property Size10,496 SF
Days on Market871
Property Features for 103 Stiles Rd
General Information
Standard status
Pending
Size
10,496 SF
Class
B
Property subtype
Office
Zoning
CIB
Occupancy
100%
Lease Type
NN
Investment Type
Value Add
Net Operating Income
$88,332
Building Details
Year Built
1988
Buildings
1
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
MANSARD
Listed By:
Jeremy Cyrier, CCIM, CRE · License #NH 072456
Source:
Crexi
Added: Mar 22, 2024
Changed: Aug 8
Last Checked: Aug 8 at 11:52AM
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 MANSARD
Investment Insights
Based on property information with market context.
The property on Stiles Road benefits from its location less than 0.2 miles from Exit 2 off I-93 and approximately 4 miles from the Massachusetts border. The Manchester-Boston Regional Airport is accessible within a 25-minute drive. The property is an office building with a size of 10496 square feet.
Key Highlights
- Convenient location: Under 0.2 miles from Exit 2 off I‑93.
- Proximity to Massachusetts border: Approximately 4 miles away.
- Easy access to Manchester‑Boston Regional Airport: 25‑minute drive.
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
$180,181
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
9.01%
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%
$3,603,620
$3.6M
Cap Rate 7%
$2,574,014
$2.6M
Cap Rate 9%
$2,002,011
$2.0M
Market Conditions
NOI Build-Up for 10,496 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
$277.1K $26.40/SF
− Vacancy
−$36.9K −$3.51/SF
EGI
$240.2K $22.89/SF
− OpEx
−$60.1K −$5.72/SF
NOI
$180.2K $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%
$3,603,620
Cap Rate 7%
$2,574,014
Cap Rate 9%
$2,002,011
Alternative Uses
Best Use
Office B
$2.57M
$2.25M – $3.00M
NOI $180,181 @ 7.0% cap · market cap 9.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.49M
$3.06M – $4.08M
NOI $244,609 @ 7.0% cap · market cap 12.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
665
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Office building near I-93 and Manchester-Boston Regional Airport.
Where is this office building located?
The property is located at 103 Stiles Rd Salem, NH.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Convenient location: Under 0.2 miles from Exit 2 off I‑93.; Proximity to Massachusetts border: Approximately 4 miles away.; Easy access to Manchester‑Boston Regional Airport: 25‑minute drive.
