Redevelopment/Investment Opportunity

Office for Sale
Also listed as Retail-Commercial
Catylist Listing ID: 30474802
Property Subtypes: Mixed Use, Office Building
Building Size (RSF): 16,072 SF
Gross Land Area: 1.93 Acres
Sale Price: $1,200,000
Unit Price: $74.66 PSF
Property Use Type: Investment
Class of Space: Class C
Usable Size (USF): 16,072 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/4/2019

Overview / Comments

Highly visible redevelopment site, consisting of Lots 41 and 43, for sale. The site is located at the busy lighted intersection of Columbus Avenue/Route 125 and Old Dover Road, with 14,260 +/- VPD per NHDOT (2018).

Lot 41 is the largest lot consisting of 1.72 +/- acres. The two story Merchants Plaza building sits on the this lot and consists of multiple office suites. Its main occupant is TD Bank and the part of the building it occupies is on Lot 42, which is exempt from the sale. TD Bank has a right of first refusal to purchase Lot 41, and is entitled to ten parking spaces via an access easement, for which they pay 40% of all CAM charges on the property.

For this offering, the site has been combined with Lot 43, which is comprised of land and a former ice cream shop at 682 Columbus Avenue (Route 125) for a total land area of 1.93 +/- acres. The former ice cream shop comes with all of the original equipment and has an approved use for food service.

This site has easy access off the Spaulding Turnpike via Exits 11 or 12, creating a short 20 minute drive to Portsmouth and Pease International Tradeport.

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Strafford
Submarket/Township: Dover/Rochester/Somersworth
Taxing Authority: City of Rochester
Tax ID/APN: 0132-0041-0000
Zoning: NEIGHBORHOOD MIXED USE (NMU)
Property Located Between: Columbus Avenue and Old Dover Road
Property Visibility: Excellent
Highway Access: Access to Spaulding Turnpike via Exits 11 or 12
Total Number of Buildings: 2
Number of Stories: 2
Year Built: 1910
Roof Type: Flat
Construction/Siding: Brick
Parking Type: Surface
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable
Water Service: Municipal
Sewer Type: Municipal
Easements Description: An easement across Lot 40 provides additional access from Route 125/Columbus Ave

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,835 27,068 47,280
Median Age: 37.33 40.59 40.78
Households: 3,096 11,252 18,833
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