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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2 Wellman Ave Nashua, NH 03064-1463

    • Office buildings
    • 7,824 SF
    • 0.74 lot acres
    OFF-MARKET
    Last Sale
    Oct 14, 2022
    $1,175,000
    Value Estimations
    $1,125,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US58-0052853
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Treen Box & Pallet Corporation / Pallet Supplier / Store
    • Tax Team of New England / Tax Preparation Service / Bookkeeping Service
    • Donna Larue & Associates / Alcoholism Treatment Program
    • Elise M. Bon-Rudin, EdD / Counselor / Doctor
    • North Light Counseling / Counselor

    Property Details for 2 Wellman Ave

    Year built
    1978
    Construction
    FRAME
    Lot size
    0.74 lot acres
    Property size
    7,824 SF
    Zone code
    LB
    Property type
    Office buildings
    APN
    NASH M:60 L:00035
    APU
    NASHM60L00035

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,245,000
      ML approach
      $1,125,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $763,000
      Market price range: $727k - $1.30M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,020,000
      Current use
      RESTAURANT
      $1,615,000
      Change: +58% Conversion: Moderate
      RETAIL STORES
      $1,430,000
      Change: +40% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,385,000
      Change: +35% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,310,000
      Change: +28% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Nashua
    County
    Hillsborough
    State
    New Hampshire
    Longitude
    -71.4865
    Latitude
    42.7744
    CBSA code
    31700
    CBSA name
    MANCHESTER-NASHUA, NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $15,171
    $205,900
    $626,300
    $832,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $300,000
      2,100 SF

      151 Amherst St

      OFFICE BUILDING • 2,100 SF
      151 Amherst St, Nashua, NH 03064-1369
      View Details
    • Value Estimation
      $630,000
      33,550 SF

      44 Franklin St

      OFFICE BUILDING • 33,550 SF
      44 Franklin St, Nashua, NH 03064-2665
      View Details
    • Value Estimation
      $365,000
      1,756 SF

      24th Broad St

      OFFICE BUILDING • 1,756 SF
      24th Broad St, Nashua, NH 03064-2015
      View Details
    • Value Estimation
      $375,000
      2,688 SF

      88 Broad St

      OFFICE BUILDING • 2,688 SF
      88 Broad St, Nashua, NH 03064-2013
      View Details
    • Value Estimation
      $310,000
      7,815 SF

      28 Concord St

      OFFICE BUILDING • 7,815 SF
      28 Concord St, Nashua, NH 03064-2340
      View Details
    • Value Estimation
      $365,000
      4,744 SF

      163 Amherst St

      OFFICE BUILDING • 4,744 SF
      163 Amherst St, Nashua, NH 03064-1367
      View Details

    Similar Nearby for Sale

    • $1,175,000
      9,581 SF

      Downtown Office Building For Sale

      Two-story office building in downtown Nashua with mixed-use zoning.
      1 Main St, Nashua, NH 03064
      View Details
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      Nashua Office Space: High Traffic Location

      Prime Nashua office, high visibility, immediate occupancy.
      120 Amherst St, Nashua, NH 03064
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    • $385,000

      Retail Development Opportunity on Broad

      1.26 acre site with frontage on Broad Street.
      44 Broad St, Nashua, NH 03064
      View Details
    • Contact for pricing
      7,400 SF

      Retail Building in Nashua, NH

      7,400 SF free-standing building in a thriving Nashua area.
      145 Amherst St, Nashua, NH 03064
      View Details
    • $5,500,000

      Development Opportunity Near Broad Street

      14.73 acres for multifamily or senior living development.
      Baldwin St, Nashua, NH 03064
      View Details
    • Contact for pricing

      Development Opportunity Near Broad St

      14.73 acres for multifamily or senior living development.
      52 Baldwin St, Nashua, NH 03064
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      13,000 SF

      Office Space in Nashua

      Office space available for rent, totaling 13,000 square feet.
      44 Franklin St, Nashua, NH 03064
      View Details
    • Contact for pricing

      Versatile Commercial Space in Nashua

      Affordable, unfinished commercial unit ready for customization in Nashua.
      120 Amherst St, Nashua, NH 03064
      View Details
    • $2,200 /Mo

      Three-Bedroom Apartment with Modern Updates

      Recently renovated three-bedroom apartment with new kitchen and bathroom.
      60 Whitney St, Nashua, NH 03064
      View Details
    • $2,500 /Mo
      5,000 SF

      Nashua Warehouse/Distribution Basement Space

      5,000 SF basement space for lease in Nashua.
      175 Amherst St, Nashua, NH 03064
      View Details
    • $15 SF/Yr
      2,250 SF

      Retail Space on Busy Street

      Retail space with high visibility and convenient access.
      14A Broad St, Nashua, NH 03064
      View Details
    • $16 SF/Yr
      2,310 SF

      Downtown Nashua Retail Space Available

      Retail or service space in vibrant downtown Nashua location.
      15-17 Railroad Sq, Nashua, NH 03064
      View Details
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    2 Wellman Ave
    Nashua, NH 03064-1463
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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