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Medical/Professional Office Building 103 Stiles Rd 10,496 SF 100% Leased Office Building Salem, NH 03079 $2,000,000 ($190.55/SF) 9.20% Cap Rate

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EXECUTIVE SUMMARY

This attractive two-story office building is situated in Salem’s most sought-after professional office park, surrounded by beautifully landscaped grounds. The building presents a polished business image and a suburban lifestyle. Completely renovated in 2012, the entire building, both inside and out, exudes a modern feel. The property currently generates $226,271 of NOI. The upcoming lease rollovers provide an opportunity to occupy space, renew existing leases, or locate new tenants in 2026. The space features floor-to-ceiling glass conference rooms, a combination of open areas and private offices, kitchenettes, restrooms, ample natural light, and high-end, finished common areas. Conveniently located less than 0.2 miles from Exit 2 off I-93 and 4 miles from the Massachusetts border, Stiles Road offers easy access. Additionally, the Manchester-Boston Regional Airport is a mere 25-minute drive away.

PROPERTY FACTS

Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
10,496 SF
Building Class
B
Year Built
1988
Price
$2,000,000
Price Per SF
$190.55
Cap Rate
9.20%
NOI
$184,000
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
5,248 SF
Slab To Slab
9’
Building FAR
0.24
Lot Size
0.99 AC
Zoning
CIB - Office Building
Parking
35 Spaces (3.33 Spaces per 1,000 SF Leased)

AMENITIES

  • Wheelchair Accessible
  • Central Heating
  • Natural Light
  • Drop Ceiling
  • Air Conditioning

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE END
  • Center for Life Management
  • -
  • -
  • -
  • -
TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE END
Center for Life Management - - - -

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • SLEM-000115-010631-000202
  • SLEM-000115-010631-000201
  • SLEM-000115-010631-000203
  • SLEM-000115-010631-000101
Land Assessment
$0
Improvements Assessment
$1,249,900
Total Assessment
$1,249,900
  • Listing ID: 30880259

  • Date on Market: 2/5/2024

  • Last Updated:

  • Address: 103 Stiles Rd, Salem, NH 03079

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