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Property profile & analytics
FOR LEASE
Warehouses
21 Northwestern Dr Salem, NH 03079
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US58-0254644
For Lease
1 / 2
$10 SF/Yr
21 Northwestern Dr, Salem, NH 03079
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1995
Construction
STEEL FRAME
Total area
99,833 SF
Lot
15.26 ac (664,726 SF)
Zoning code
IND
APN
SLEM M:95 B:10585 L:
UPID
US58-0254644
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Advanced Programs, Inc (Bike/Boat/Book/etc) Store Corporate Office
-
Certified Homecare Consulting - Health Care Services Home Health Care Service Consultant
-
L.J. Smith Stair Systems Industrial Manufacturer Production Facility
-
Dennesen Industrial LLC Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.97M
CAP Approach
CAP
$11.22M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$12.84M
Owner & transaction history
Ff 21 Nw Owner LLC · 3 yrs held
Ff 21 Nw Owner LLC
since 2022
Last sale
$14.9M
3 recorded transactions
Zoning & alternative use
IND · Salem, NH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$20.4M
+688.3%
Commercial (general)
$13.9M
+434.9%
Auto repair, garage
$12.4M
+379.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salem submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$14,210,000
ML approach
$8,970,000
CAP Approach
CAP Return
Estimation
6%
$12,150,000
6.5%
$11,215,000
7%
$10,415,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$20,440,000
Change: +688% · Conversion: Difficult
COMMERCIAL (GENERAL)
$13,865,000
Change: +435% · Conversion: Difficult
AUTO REPAIR, GARAGE
$12,440,000
Change: +380% · Conversion: Easy
RESTAURANT
$10,030,000
Change: +287% · Conversion: Difficult
RETAIL STORES
$8,310,000
Change: +220% · Conversion: Moderate
Blend value · Realmo final
$12.84M
Range $11.56M – $14.12M · ±10% · vs last sale $14.90M (Aug 8 2022)
Last sale anchor
$14.90M
Aug 8 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$129 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$103,290
Tax year 2023
Assessed value
$6,090,200
Assessed 2023
Previous assessed
$6,090,200
+0.0% YoY
Effective rate
1.70%
On assessed value
Assessed land
$1,856,000
Assessed improvement
$4,234,200
Applied tax rate
66,660.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
1995
Construction
STEEL FRAME
Heating
FORCED AIR
Buildings
1
Stories
1
Units
5
Total area
99,833 SF
Lot
15.26 ac (664,726 SF)
Zoning code
IND
APN
SLEM M:95 B:10585 L:
UPID
US58-0254644
Jurisdiction
SALEM TOWN
Metro division
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH METROPOLITAN DIVISION
Zoning & alternative use
IND · Salem, NH
Zoning IND · permitted uses
IND · Salem, NH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salem. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$20.4M
COMMERCIAL (GENERAL)
Est. value
$13.9M
AUTO REPAIR, GARAGE
Est. value
$12.4M
RESTAURANT
Est. value
$10.0M
RETAIL STORES
Est. value
$8.3M
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RESTAURANT
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1995
Construction
STEEL FRAME
Heating
FORCED AIR
Stories
1
Buildings
1
Units
5
Lot
15.26 ac
Current owner
From public records · entity-resolved
Ff 21 Nw Owner LLC
Entity
Mailing address
21 NORTHWESTERN DR, SALEM, NH 03079-4809
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 8, 2022
$14,900,000
Ff 21 Nw Owner LLC
Dennesen Industrial LLC
Warranty Deed
$11,216,000 · Middlesex Savings Bank
Dec 23, 2013
—
Dennesen Industrial LLC
—
Deed Of Trust
related
$150,000 · Salem Cooperative Bank
—
—
Dennesen Industrial LLC
—
Deed Of Trust
related
$100,000 · Salem Cooperative Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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