Building Details

Year Built 1950

Listing Agency: Colliers International Show Phone

Listed By: Tim Braseth · License #Tim H Braseth Show Phone

Source: Longviewcre

Added: Oct 15 Changed: Oct 28 Last Checked: Oct 28 at 4:08PM

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Investment Insights

Based on property information with market context.

Unit 3 offers 2,997± square feet arranged with six private offices, a broad work area suited to storage or distribution, and mezzanine space. The suite also includes two restrooms, a break room, wet sprinklers, a security system, and an 8’ x 8’ loading dock. Ceiling height is approximately 15 feet, with 12’6” clear height.

At 953 Islington Street in Portsmouth’s West End, the property is less than 2.5 miles from I-95 and Route 1 and about a mile from downtown. The building was constructed in 1950 and has on-site parking.

Key Highlights

• 2,997± SF flex unit with six private offices
• Open work area can accommodate storage or distribution
• 8’ x 8’ loading dock; 15’± ceilings and 12’6” clear height

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,536

Suggested Prices Based on Cap Rates

Cap Rate 5%

$370,720 $370.7K

Cap Rate 7%

$264,800 $264.8K

Cap Rate 9%

$205,956 $206.0K

What to ask about pricing

Market Conditions

NOI Build-Up for 2,997 SF

Gross rent

$28.4K $9.48/SF

− Vacancy

−$1.9K −$0.64/SF

EGI

$26.5K $8.84/SF

− OpEx

−$7.9K −$2.65/SF

NOI

$18.5K $6.18/SF

Area

Rockingham County, NH

Vacancy

6.80%

Lease Rate

$9.48 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$370,720

Cap Rate 7%

$264,800

Cap Rate 9%

$205,956

Alternative Uses

Best Use

Flex RnD

$490.7K

$429.4K – $572.5K (±1% cap)

NOI $34,350 @ 7.0% cap · market cap 180,789.47%

Second Best

Warehouse

$312.6K

$273.6K – $364.8K (±1% cap)

NOI $21,885 @ 7.0% cap · market cap 115,184.21%

Theoretical Best

Office A

$997.8K

$873.1K – $1.16M (±1% cap)

NOI $69,845 @ 7.0% cap · market cap 367,605.26%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

First Street Business ... Business Broker Profile Homes, LLC Construction Company port city design Architect Baker Properties, LLC Real Estate Agency ATX Fitness Therapy Gym & Fitness Center

Suggested Use

Top Pick Daycare Center (Bike/Boat/Book/etc) Store Grocery & Convenience Store Locksmith Food Market Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

12 ft

Clear height

1

Dock-high doors

Yes

Sprinkler system

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,053

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 03801, NH

22,767

Population

11,448

Households

2

Avg Household Size

43

Median Age

63%

College-Educated

98%

High-School Grad

23.8 sq mi

ZIP Area

957

Density / Sq Mi

$106,520

Median Household Income

$65,984

Median Earnings

$1,783

Median Rent

$647,500

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - The unit combines private offices, flexible work and storage areas, mezzanine space, and on-site parking.

Where is this flex space located?

The property is located at 953 Islington Street Portsmouth, NH.

What are key features of this property?

This property features: 2,997± SF flex unit with six private offices; Open work area can accommodate storage or distribution; 8’ x 8’ loading dock; 15’± ceilings and 12’6” clear height