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1 Industrial Dr - Windham Academy | Long Term Single Tenant NNN 26,316 SF Specialty Building Offered at $10,500,000 at a 7.33% Cap Rate in Windham, NH 03087
Investment Highlights
- +/- 16.9-Year NNN Lease | Annual Rent Increases | Fee Simple Ownership | Minimal Landlord Responsibilities
- Third-Largest In-Person Charter in NH | Enrollment Growth Every Year Since 2018 | Waitlisted | Blind Lottery Admission
- Windham: 2nd-Wealthiest Town in NH | $189,583 Median HH Income | 46.3% of Households Over $200K | I-93 Exit 3
- State-Funded Rent Under NH Statute | RSA 194-B:11 | Per-Pupil Direct Payment | Not Tuition Dependent
- New Construction | Recent Tenant Expansions | 12,000 SF Addition Delivered 2024 | Substantial Tenant Capital In Place
Executive Summary
Marcus & Millichap is pleased to present exclusively for sale 1 Industrial Drive in Windham, New Hampshire, a ±38,477-square-foot, two-story facility net leased to Windham Academy Public Charter School, the third-largest in-person public charter school in New Hampshire. Renovated and expanded through 2024 with a new addition, roof, and systems, the Property offers approximately 17 years of remaining term through 2043, 2% annual increases, and minimal landlord responsibilities. Rent is state-funded: under RSA 194-B:11 the tenant is paid directly by the State of New Hampshire per pupil, independent of private tuition or consumer spending.
The school has grown enrollment every year since 2018, is oversubscribed by annual lottery, and sits at 82% of capacity with roughly 90 seats of embedded growth. Positioned at I-93 Exit 3, about 35 miles north of Boston in Windham, the second-wealthiest municipality in New Hampshire, the Property pairs an essential-use, state-funded tenant with one of the strongest demographics in the state.
The school has grown enrollment every year since 2018, is oversubscribed by annual lottery, and sits at 82% of capacity with roughly 90 seats of embedded growth. Positioned at I-93 Exit 3, about 35 miles north of Boston in Windham, the second-wealthiest municipality in New Hampshire, the Property pairs an essential-use, state-funded tenant with one of the strongest demographics in the state.
Property Facts
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Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
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