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    298 2Nd Nh Tpke Hillsboro, NH 03244

    Sponsored
    For Sale
    $524,900

    Multi-Family - Hillsborough, NH

    Property size:
    2,438 SF
    Lot size:
    7.50 Acres
    Days on Market:
    23
    Last Refresh:
    Feb 12 at 4:06 am

    Property Features for 298 2Nd Nh Tpke

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Residential / Commercial
    Rooms
    Basement
    Basement Y/N
    1
    Size
    2,438 SF
    Lot size
    7.50 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1850
    Floors in Building
    2
    Number of units
    3
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Jane Williams

    Manning Williams Agency (603) 478-3500

    Listing agent Jane Williams (603) 478-3500

    Listing date Jan 21, 2026

    MLS# 5066363 Listing URL

    Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Renovated Farmhouse with Income Potential

    This renovated 1850 farmhouse is situated on 7.5 acres of farmland. The property includes an attached ell with a 1-bedroom apartment and a barn. The main house, with its exposed beams and hardwood floors, offers the potential to be converted into 2-3 additional units with the addition of drywall. The property features 645 feet of road frontage, rock walls, and a small stream on the south side. Every window offers a view of the surrounding landscape. The versatile property is located directly across from the Franklin Pierce Homestead, a state historic site. The 2,438 square foot property has potential for many uses, such as a store, day care, bakery, or artisan studio. The location benefits from regular traffic from Washington, Windsor, and the west side of Hillsborough. The property currently includes 11 rooms, 3 baths, and 2-3 kitchens, with some rooms being large. The land is sub-dividable.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Big Box & Wholesale Store Hair Salon Nail Salon Hotel & Motel Department Store Kitchen & Bath Showroom Storage Facility

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hillsboro
    County
    Hillsborough
    State
    New Hampshire
    Longitude
    -71.951819
    Latitude
    43.1156986

    Nearby Similar for Sale

    • $100,000

      Hillsborough Landmark Location on Route 31

      Former general store and gas station on highly traveled Route.
      562 2Nd Nh Tpke, Hillsboro, NH 03244
      View Details
    • $329,900

      Victorian Building in Downtown Hillsborough

      Large Victorian with parking, suitable for various uses.
      21 School St, Hillsboro, NH 03244
      View Details
    • $509,900

      Renovated Three-Family Property

      Recently renovated three-family property, turn-key investment or owner-occupied opportunity.
      31 Woodlawn Ave, Hillsboro, NH 03244
      View Details

    FAQs

    What type of property is this?
    Farm - 1850 farmhouse on 7.5 acres with apartment and barn.
    Where is this farm located?
    The property is located at 298 2Nd Nh Tpke Hillsboro, NH.
    What is the asking price?
    The asking price for this property is $524,900.
    What are key features of this property?
    This property features: - Renovated 1850 Farmhouse on 7.5 acres with barn and subdividable land.; - Includes an el with a 1-bedroom apartment for potential rental income or guest suite.; - Main house can be converted into 2-3 additional units, offering multifamily potential.
    (603) 759-9320
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    298 2Nd Nh Tpke Hillsboro, NH 03244
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    Hillsboro, NH 03244
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    298 2Nd Nh Tpke Hillsboro, NH 03244
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    Listing Contact
    Jane Williams
    (603) 759-9320
    Learn more
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