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    3 S Shore Rd Salem, NH 03079

    New
    For Sale
    $2,360,000

    Multi-Family - Salem, NH

    Property size:
    7,674 SF
    Lot size:
    1.00 Acre
    Days on Market:
    6
    Last Refresh:
    Dec 14 at 3:06 am

    Property Features for 3 S Shore Rd

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    APT 8+Up MDL-01
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    12
    Bathrooms
    9
    Parking features
    Paved or Surfaced
    EntryLevel
    Unit 4: 3,Unit 6: 1,Unit 5: 3,Unit 1: 1,Unit 2: 1,Unit 3: 2,Unit 8: 1 & 2
    Basement Y/N
    1
    Appliances
    Range, Refrigerator
    Size
    7,674 SF
    Lot size
    1.00 Acre

    Utilities

    Heating system
    Hot Water (Heating)

    Building Details

    Year built
    1880
    Floors in Building
    3
    Number of units
    9
    Flooring type
    Carpet, Hardwood, Laminate, Vinyl
    Roof type
    Flat
    Architectural style
    Other

    REMAX Area Real Estate Network (603) 782-4418 [email protected]

    Listing agent Steve Cotran (603) 626-5000

    Listing date Dec 9, 2025

    MLS# 5038205 Listing URL

    Copyright © 2025 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Well-Maintained 9-Unit Apartment Building

    This well-maintained 9-unit apartment building presents an exciting investment opportunity. Situated on a spacious 1.8-acre lot in a low-density single-family neighborhood, the property is connected to city sewer and is located just minutes from I-93 Exit 2. The building features a large and inviting backyard, ample paved parking, and extra land, all within a short walk of Canobie Lake, which offers seasonal views from the third floor. The property is currently occupied and stabilized, presenting an immediate income stream. Six of the apartments have been recently and completely renovated, featuring modern kitchens with granite countertops and stainless steel appliances, updated bathrooms, refinished or new hardwood flooring, energy-efficient LED lighting, and new decks, sliding doors, and windows. Each unit is separately metered for heat and electricity, and the property currently yields a strong 8% capitalization rate. The property also features a large U-shaped driveway providing ease of access and plenty of parking for tenants. Unit 9 is a particularly attractive freshly renovated two-bedroom townhome-style unit with sliding doors leading to a private rear deck, along with a new kitchen, bathroom, appliances, and refinished wood flooring. The property is zoned APT 8+Up MDL-01.
    Property Profile Location Intelligence

    Current Use by Public Records

    PT Designs Mechanical Engineer

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Hair Salon Dental Office Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Rockingham
    State
    New Hampshire
    Longitude
    -71.2534666
    Latitude
    42.7869678

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    FAQs

    What type of property is this?
    Apartment building - Stabilized 9-unit apartment building near Canobie Lake in Salem, NH.
    Where is this apartment building located?
    The property is located at 3 S Shore Rd Salem, NH.
    What is the asking price?
    The asking price for this property is $2,360,000.
    What are key features of this property?
    This property features: - Strong 8% capitalization rate offers immediate income stream.; - Six of nine units recently renovated with modern kitchens, updated bathrooms, new flooring, and energy-efficient upgrades.; - Spacious 1.8-acre lot with ample paved parking and extra land.
    (603) 626-5000
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    3 S Shore Rd Salem, NH 03079
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    Salem, NH 03079
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    Realmo Value Estimation

    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.

    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.

    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
    3 S Shore Rd Salem, NH 03079
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