281 Daniel Webster HwyNashua, NH 03060

Property Details for 281 Daniel Webster Hwy

Year built

1998

Construction

STEEL FRAME

Lot size

2.22 AC

Property size (Sq ft)

27,068 SF

Zone code

HB

Property type

Retail properties

Property subtype

Other retail properties

APN

NASH M:A L:00975

APU

NASHMAL00975

Description

This exceptional 27,403 square foot shopping center in Nashua, New Hampshire, presents a compelling investment opportunity. Located at 281 Daniel Webster Hwy, this property boasts a prime location within a thriving retail corridor, situated on a sizable 2.22-acre lot at a signalized intersection ensuring excellent accessibility. The center is fully occupied (100%) by two corporate tenants: Planet Fitness and DXL, both operating under recently extended, double-net (NN) leases with a weighted average lease term remaining of 8.65 years. The strong tenant mix, featuring a health and fitness center and a clothing retailer, provides stability and diversification. Built in 1998 and renovated in 2023, the property offers 27,403 square feet of space, currently generating a Net Operating Income (NOI) of $656,264, representing a 6.35% cap rate at an asking price of $10,335,000 ($377.15 per square foot). The leases include attractive rental increase structures, with Planet Fitness experiencing a 10% increase every five years and DXL a 6% increase in 2025, followed by fair market value adjustments in subsequent options. The corporate guarantees provided by both tenants further enhance the security of this investment. This is a rare opportunity to acquire a high-performing, well-located retail property with significant long-term growth potential. The property is situated in Hillsborough County, NH, zip code 03060.

• CAP approach

  CAP return

  Valuation

  6%

  $6,578,469

  6.5%

  $6,072,433

  7%

  $5,638,688

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,912,496

  Geo Method

  $8,912,496

• Alternative Use

  Use

  Valuation

  Residential

  $5,122,324

  Hospitality

  $4,692,022

  Educational

  $3,903,707

  Medical

  $4,037,961

  Retail

  $6,072,433

Location Insight

City

Nashua

County

Hillsborough

State

New Hampshire

Latitude

42.7053

Longitude

-71.443

CBSA code

31700

CBSA name

MANCHESTER-NASHUA, NH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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