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Windham Academy | Long Term Single Tenant NNN 1 Industrial Dr 38,477 SF Office Building Windham, NH 03087 $14,594,895 CAD ($379.31 CAD/SF) 7.33% Cap Rate
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
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Building Size
38,477 SF
Building Class
A
Year Built/Renovated
1979/2021
Price
$14,594,895 CAD
Price Per SF
$379.31 CAD
Cap Rate
7.33%
NOI
$1,069,425 CAD
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
19,239 SF
Building FAR
0.19
Lot Size
4.77 AC
Zoning
Industrial
Parking
79 Spaces (2.05 Spaces per 1,000 SF Leased)
Amenities
- Day Care
- Security System
- Signage
- Reception
- Air Conditioning
- On-Site Security Staff
- Locker Room
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Windham Academy Public Charter School
- Educational Services
- 38,477 SF
- $28.90 CAD
- Triple Net
- Jun 2043
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Windham Academy Public Charter School | Educational Services | 38,477 SF | $28.90 CAD | Triple Net | Jun 2043 |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
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Windham Academy | Long Term Single Tenant NNN | 1 Industrial Dr
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