Fully-Occupied Office Building in Historic Concord

Office for Sale
Catylist Listing ID: 30862952
Property Subtypes: Office Building
Building Size (RSF): 8,718 SF
Gross Building Area: See Agent
Sale Price: $999,000
Unit Price: $114.59 PSF
Property Use Type: Investment, Business
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: 7.1%
Last Updated: 4/2/2024

Overview / Comments

Exceptional investment opportunity near the heart of historic Concord! This 8,718 SF, 6-unit freestanding office condominium is conveniently situated on North State Street within ~1 mile of Downtown Concord, Route I-93, and Route I-393. The property features highly visible signage, meticulously maintained grounds, and thoughtfully designed layouts that include reception areas, conference rooms, kitchenettes, and private bathrooms. The property’s 42 parking spaces and 3 garage bays serve as strong selling points to attract and retain top tenants. The building is fully-occupied and the current rent roll provides steady and predictable income, with over 60% of rents secured by leases extending to 2028-2029. This property is more than just office space - it's a smart investment in the next chapter of Concord’s storied legacy.

For a firsthand look at this prime commercial offering, contact Principal Broker Nick Gray at ngray@graypropertygroup.com and/or (603) 637-4812 ext 5.

Financials

Finance Data Year 2024
Real Estate Taxes - Annual($) $19,400 (Annual)
Gross Operating Income $129,453 (Annual)
Net Operating Income $71,476 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Concord
County: Merrimack
Tax ID/APN: 101913
Zoning: UT
Property Visibility: Excellent
Total Number of Buildings: 1
Number of Stories: 3
Year Built: 1826
Roof Type: Gable
Construction/Siding: Vinyl Siding
Parking Type: Surface
Total Parking Spaces: 42
Sprinklers: None
Heat Type: Electricity, Natural Gas
Heat Source: Central, Heat Pump
Zoning Description: UT
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,886 32,391 46,421
Median Age: 35.44 39.88 39.79
Households: 1,361 13,223 19,033

Contact

Photograph of Listing Agent

Nick Gray

Gray Property Group
NECPE Member
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