75-77 Northeastern Blvd, Nashua, NH 03062

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Mark P.

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Building Details:

• Year Built: 1982

75-77 Northeastern Blvd is an office property for lease in Nashua, NH.

75-77 Northeastern Boulevard is an 88,266 square foot office/high-tech/distribution property ideally situated between Exit 4 and Exit 5 off the F.E. Everett Turnpike. This property is best suited for a company looking to own a highly visible corporate headquarters, occupy 33,251 square feet and utilize the remaining 51,034 square feet of leased space as cash flow or expansion space in the future.

To objectively show the effective cost to own 75-77 Northeastern Boulevard, I prepared the attached Current Cash Flow Analysis and Current Cash Flow Analysis with Debt Service.

Essentially, the Current Net Operating Income of the building generates $180,372.00 with 51,034 square feet leased. If a buyer finances $5.0 million at 4% over 25 years the Debt Service is $316,704.00 which generates a net loss of $136,332.00. If I divide the vacant space of 36,251 by the net loss of $136,332.00 the effective cost of the space would be $3.76 square foot plus utilities. If the operating expenses / NNN are $2.00 square foot, the effective cost to own the vacant space is $1.74+/- square foot NNN. Another way to look at the cost to own the entire property is to divide the building area of 88,261 sq. ft. by Debt Service $316,704.00 equals $3.59 square foot (NNN).

Alternatively, the property is ideal for an investor with 51,034 square feet leased to St. Joseph's Hospital and Hello Direct with 33,251 square feet available for lease in a highly desirable location. Corporate neighbors include FAA, SkillSoft, TYCO, Fastenal, Amphenol, and Harvey Industries.

My opinion is that in today’s current market environment, the space is worth $7-8 square foot NNN. Further, the asking price of the building is $65.00 square foot and I suggest the minimum replacement cost of the property at $140-150 square foot.

This unique opportunity is ideal for a company seeking a great property, in an excellent location, with expansion capability at a below market price. Please call me to discuss, thank you!

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