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

    381 Portsmouth Ave Greenland, NH 03840

    • Super regional malls
    • 9,133 SF
    • 1.04 lot acres
    For Sale
    View listing
    $2,200,000
    Last Sale
    Mar 28, 2025
    $2,065,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US58-0409125
    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

    • Edward Jones - Financial Advisor: John M St Pierre, AAMS® / Financial Advisor
    • Greenland Famous Roast Beef & Seafood / Restaurant
    • Dunkin' / Cafe & Coffee Shop
    • Cowabunga Media / (Bike/Boat/Book/etc) Store
    • UE Field Office (UE Local 228) / Advocacy Group

    Property Details for 381 Portsmouth Ave

    Year built
    1998
    Construction
    FRAME
    Lot size
    1.04 lot acres
    Property size
    9,133 SF
    Zone code
    COM
    Property type
    Super regional malls
    APN
    GRNL M:U B:4 L:21
    APU
    GRNLMUB4L21

    Description

    This exceptional 9,000 square foot, two-story commercial building, located at 381 Portsmouth Avenue in Greenland, New Hampshire (zip code 03840), presents a prime retail opportunity. The property boasts seven suites in total, with one 1,800+ square foot space currently available for lease, starting May 15th. Situated on 1.1 acres of land, this Class B building, constructed in 2000, enjoys a highly visible location at the signalized intersection of Route 33 and Route 151, experiencing 33,000 cars passing daily. The available space features tall ceilings, a flexible open concept layout, economical gas heat, and central air conditioning. Ample parking is provided with 40 spaces available. The building offers tremendous signage opportunities, including building signage and a pylon sign. The property is zoned commercial and has three-phase 400-amp power. The monthly lease rate is $2,000. Property taxes are $15,000 annually. While there are no elevators, this second-floor space offers privacy and is ideal for a variety of retail or office uses. Join established businesses such as Dunkin' Donuts and Edward Jones in this thriving commercial center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,475,000
      ML approach
      $1,535,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,895,000
      6.5%
      $2,675,000
      7%
      $2,480,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,660,000
      INDUSTRIAL (GENERAL)
      $1,610,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenland
    County
    Rockingham
    State
    New Hampshire
    Longitude
    -70.8279
    Latitude
    43.0397
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-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
    $15,161
    $303,300
    $932,300
    $1,235,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,790,000
      108,116 SF

      1450 Greenland Rd

      REGIONAL SHOPPING CENTER, MALL • 108,116 SF
      1450 Greenland Rd, Greenland, NH 03840-2438
      View Details
    • Value Estimation
      $1,165,000
      9,160 SF

      611 Breakfast Hl Rd

      DEPARTMENT STORE • 9,160 SF
      611 Breakfast Hl Rd, Greenland, NH 03840-2418
      View Details
    • Value Estimation by Request
      4,480 SF

      24 Bramber Vly Rd, Unit 30

      SHOW ROOM, WAREHOUSE • 4,480 SF
      24 Bramber Vly Rd, Greenland, NH 03840-2261
      View Details
    • Value Estimation
      $3,790,000
      49,355 SF

      1575 Greenland Rd

      SHOW ROOM, WAREHOUSE • 49,355 SF
      1575 Greenland Rd, Greenland, NH 03840-2440
      View Details
    • Value Estimation
      $570,000
      2,580 SF

      3 Riverside Dr

      SHOW ROOM, WAREHOUSE • 2,580 SF
      3 Riverside Dr, Greenland, NH 03840-2322
      View Details
    • Value Estimation
      $805,000
      5,978 SF

      64 Tide Ml Rd

      DEPARTMENT STORE • 5,978 SF
      64 Tide Ml Rd, Greenland, NH 03840-2235
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,639 SF

      Retail Property on 1.8 Acres

      Retail property with high visibility on 1.8 +/- acres.
      365 Portsmouth Ave, Greenland, NH 03840
      View Details
    • $925,000

      Greenland Office and Shop Space

      Free-standing building with office and garage/shop space for sale.
      35 Riverside Ln, Greenland, NH 03840
      View Details
    • $1,500,000
      2.28 Acres

      Greenland Commercial Property on Route 33

      Versatile commercial property with high visibility and access on 2.28 acres.
      650 Portsmouth Ave, Greenland, NH 03840
      View Details
    • $2,200,000
      9,133 SF

      Prime Greenland Commercial Building

      High-traffic location, strong tenants, great ROI.
      381 Portsmouth Ave, Greenland, NH 03840
      View Details
    • $895,000

      Industrial Condominium Near Route 33

      4,200 SF industrial condominium with easy highway access.
      434 Portsmouth Ave, Greenland, NH 03840
      View Details
    • $605,000

      High Visibility Commercial Land

      Land with high visibility on a primary commuter corridor.
      60 Ocean Rd, Greenland, NH 03840
      View Details
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    381 Portsmouth Ave
    Greenland, NH 03840
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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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