Retail Building on Portsmouth
For Sale
$750,000
97 Portsmouth Avenue, Exeter, NH 03833
3200 sq ft retail building with ample parking.
Property Size3,200 SF
Lot Size0.40 Acres
Price / SF$234.38
Days on Market165
Property Features for 97 Portsmouth Avenue
General Information
Standard status
Active
Size
3,200 SF
Lot size
0.40 Acres
Property subtype
Commercial
Zoning
C-2
Taxes and HOA fees
Annual Taxes
$10,103
Building Details
Year Built
1965
Units
1
Listing Agency:
Exp Realty
(617) 259-0810
Listed By:
Bill Riffert
(617) 259-0810
Source:
Ossipeelakere
Added: Mar 12
Changed: Aug 23
Last Checked: Aug 20 at 6:50AM
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 Exp Realty
Investment Insights
Based on property information with market context.
This 3200 sq ft building is situated on a 0.40 acre lot and features commercial zoning, offering various possibilities for prospective businesses. Located on Portsmouth Avenue in Exeter, New Hampshire, the property benefits from a high traffic volume of over 20,000 vehicles per day. The location is approximately 0.5 miles from Route 101. Currently operating as a dry cleaner and laundromat, the property could continue as such or be adapted for other commercial uses.
Key Highlights
- High‑traffic location on Portsmouth Avenue with 20,000+ vehicles per day (VPD)
- Ample parking on a .40 acre lot
- 3200 sq ft building
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
$45,239
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
6.03%
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%
$904,780
$904.8K
Cap Rate 7%
$646,271
$646.3K
Cap Rate 9%
$502,656
$502.7K
Market Conditions
NOI Build-Up for 3,200 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
$69.1K $21.60/SF
− Vacancy
−$4.5K −$1.40/SF
EGI
$64.6K $20.20/SF
− OpEx
−$19.4K −$6.06/SF
NOI
$45.2K $14.14/SF
Area
Rockingham County, NH
Vacancy
6.50%
Lease Rate
$21.60 /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%
$904,780
Cap Rate 7%
$646,271
Cap Rate 9%
$502,656
Alternative Uses
Best Use
Retail
$646.3K
$565.5K – $754.0K
NOI $45,239 @ 7.0% cap · market cap 6.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.07M
$932.2K – $1.24M
NOI $74,576 @ 7.0% cap · market cap 9.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
830
Businesses Nearby
76k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 56%
Dining 33%
Shops & Services 11%
Hannaford
Groceries
36,329 visits/mo
0.3 miles
McDonald's
Dining
25,187 visits/mo
0.3 miles
Lindt
Groceries
6,078 visits/mo
0.5 miles
Newburyport Bank
Shops & Services
3,912 visits/mo
0.3 miles
McFarland Ford Sales Inc
Shops & Services
3,603 visits/mo
0.4 miles
Demographics for 03833, NH
22,662
Population
9,789
Households
2.3
Avg Household Size
47
Median Age
54%
College-Educated
98%
High-School Grad
48.5 sq mi
ZIP Area
467
Density / Sq Mi
$110,566
Median Household Income
$59,220
Median Earnings
$1,632
Median Rent
$456,000
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 3200 sq ft retail building with ample parking.
Where is this retail space located?
The property is located at 97 Portsmouth Avenue Exeter, NH.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: High‑traffic location on Portsmouth Avenue with 20,000+ vehicles per day (VPD); Ample parking on a .40 acre lot; 3200 sq ft building
