Property profile

282 Corporate Dr Portsmouth, NH 03801

FOR LEASE
Office buildings
Property ID
US58-0556879
15,007 SF Built 2000
Entity Owned 19-yr Hold Free & Clear
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282 Corporate Dr, Portsmouth, NH 03801 For Lease
$7 SF/Yr
282 Corporate Dr, Portsmouth, NH 03801
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Property summary

AI-generated overview

This exceptional 15,207-square-foot executive office building is situated in Portsmouth, New Hampshire's Pease International Tradeport, a premier business park. Conveniently located less than an hour from downtown Boston and easily accessible from I-95 Exit 3, the property boasts over 103 dedicated parking spaces. Built in 1950 and renovated in 2000, this single-story Class B building sits on a 5.19-acre lot and offers a loading dock and an outside covered deck. The property is zoned for business/commercial use and features ample signage opportunities on a pylon sign. The sale includes the seller's remaining lease term with the Pease Development Authority (PDA), a state agency, offering the potential for a lease extension of up to 74 years. This extended lease term provides flexibility for future renovations, expansion, and financing options. The building's strategic location provides direct access to I-95 and the Spaulding Turnpike, ensuring excellent visibility and accessibility. The potential for building expansion adds further value to this attractive investment opportunity. This freestanding building presents a unique opportunity to acquire a well-maintained, strategically located office building in a thriving business park.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 2000
Construction FRAME
Total area 15,007 SF
Zoning code ABC
APN PRSM M:0315 B:0002 L:
UPID US58-0556879

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Law Firm Security Service
  • Brewery & Distillery Specialty Food Shop
  • Law Firm
  • Law Firm
  • Law Firm

Location

282 Corporate Dr Portsmouth, NH 03801
Portsmouth metro Census 107400 BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$4.23M
Comparable Approach Comparable
$4.06M
Blend (final) Blend
$3.58M

Owner & transaction history

Zoning & alternative use

ABC · Portsmouth, NH
Zoning description

Commercial ABC To provide for business, commercial and trade- related enterprises in a campus setting. Other Districts Civic District CIVIC To preserve existing buildings and uses that are open to the general public and…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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