Medical Condo Investment

Office for Sale
Catylist Listing ID: 30748948
Property Subtypes: Office Building
Condo? Yes
Building Size (RSF): 4,103 SF
Gross Building Area: 37,440 SF
Gross Land Area: 8.54 Acres
Sale Price: $640,000
Property Use Type: Net Leased Investment (NNN)
Building Name: Royal Commons
Class of Space: Class A
Usable Size (USF): 4,103 SF
Sale Terms: Cash to Seller
Cap Rate: 7.82%
Last Updated: 7/21/2021

Overview / Comments

NNN leased medical office condominium available for sale in Royal Commons, a professional office building that has been well-maintained by the Seller. Suite 240 is leased by Northeast Dermatology Associates, a strong regional provider with 26 locations in New England. Tenant is completing its initial 5 year term and has executed a 5 year renewal expiring 12/15/26. NNN lease has annual 3% rent escalations and one 5 year renewal option. Financials available with signed non-disclosure agreement.
The City of Dover, NH is the fastest growing city in the state with premier medical facilities, including Wentworth-Douglass Hospital and its network of affiliates, and close proximity to the University of New Hampshire, the state’s largest university and research center.

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Strafford
Submarket/Township: Dover/Rochester/Somersworth
Taxing Authority: City of Dover
Tax ID/APN: D0002-000000
Is Condo?: Yes
Zoning: B-3
Property Located Between: Indian Brook Road and Morin Street
Property Visibility: Fair
Highway Access: 51 Webb Place is less than 1 mile from the Spaulding Turnpike (Rt.16) via Exit 9.
Airports: Portsmouth International Airport at Pease is less than a ten minute drive and Manchester-Boston and Logan Airports are each within an hour's drive.
Area Description: Just 2.4 miles from the amenities of downtown Dover
Total Number of Buildings: 1
Number of Stories: 3
Typical SF / Floor: 12,588 SF
Year Built: 2004
Roof Type: Hip
Construction/Siding: Brick
Parking Type: Surface
Parking Description: Surface parking lot.
Total Parking Spaces: 139
Passenger Elevators: 1
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable
Lot Depth: 192
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,734 29,530 68,985
Median Age: 33.35 35.85 36.86
Households: 2,980 12,298 27,195

Contact

Photograph of Listing Agent

David F. Choate, III

Colliers International NECPE Member
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