Excellent Investment Opportunity - Medical Tenant

Office for Sale
Sale Pending/Contingent
Also listed as Industrial
Catylist Listing ID: 30843049
Property Subtypes: Business Park, Medical, Flex Space
Status: Pending/Contingent
Condo? Yes
Building Size (RSF): 18,000 SF
Sale Price: $1,850,000
Property Use Type: Investment
Building Name: 10 Continental Drive
Class of Space: Class B
Usable Size (USF): 18,000 SF
Sale Terms: Cash to Seller
Cap Rate: 10.04%
Average Occupancy Rate: 100
Last Updated: 6/9/2023

Overview / Comments

Excellent Investment Opportunity with New Income Level at 10 Cap!
New Lease extension to 9/31/2026 which will bring the Tenant's commitment at this location to 19 years. Bring your investor offers to this opportunity in a great location.
Office/Warehouse Condo with 18,000 Sq. Ft., constructed in 2007 on two levels, located in an Executive Office Park is Available For Sale with a Tenant in Place through the Fall of 2026! Great Investment, or plan the future for your own use.

Excellent Condition Condo property offers a great opportunity for a solid Investment. Offering 9,000+/- square foot per floor for a total square footage of 18,000+/-. Quality office space consists of 9,600 Sq.Ft. on two floors, with 4,200 of warehouse service production space on the first floor, and 4,200 Sq.Ft. of storage on second floor. Smaller parcel elevator connects the Service area and the storage above. First floor has 7 private offices, Large open space with open office layout, two ADA bathrooms, supplies room. Warehouse has service area, shipping area, racking and receiving area with overhead door and inner door. Second floor has 2 conference rooms, 1 private office, large kitchen/break room, two ADA bathrooms, and large open area. Second floor storage is serviced by small elevator and is open storage area. A long term medical supply tenant has been in place since building was built. The lease was recently renewed for a further three years through September of 2026.
Building 3, Unit J, at 10 Continental Drive.


Finance Data Year 2023
Real Estate Taxes - Annual($) $28,952 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Rockingham
Submarket Type: Central Business District
Taxing Authority: Town of Exeter, NH
Tax ID/APN: 047-004-0013
Is Condo?: Yes
Zoning: C-3
Property Visibility: Good
Highway Access: One mile from Exit 9 of Route 101, and 10 minutes to I-95 and less than 0 minutes to I-93 and Manchester area.
Airports: Boston Logan Airport (BOS), and Manchester/Boston Airport (MHT)
Site Description: Office Industrial Flex Space Parking: 32 HVAC: yes Has Sprinklers Power: 400 amp Const.Type: wood frame
Area Description: Continental Drive is a mix of Warehouse / Office flex space.
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 9,000 SF
Year Built: 2007
Roof Type: Gable
Construction/Siding: Wood Frame
Exterior Description: Clapboard
Parking Type: Surface
Parking Description: Ample parking
Total Parking Spaces: 32
Freight Elevators: 1
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Other
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Easements Description: Condo Association Easements

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,809 14,044 41,660
Median Age: 37.03 43.64 42.93
Households: 729 5,882 16,107


Photograph of Listing Agent

Gerry O'Connell

KW Coastal and Lakes & Mountains Realty
NECPE Member
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