Mixed-Use Property with
For Sale
$609,000
66 Washington Street, Rochester, NH 03867
Multi-Family, Rochester, NH
Property Size4,293 SF
Lot Size0.24 Acres
Price / SF$141.86
Days on Market82
Property Features for 66 Washington Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Neigh Mix
Rooms
Basement
Parking features
Off Street
Patio and Porch features
Porch, Deck
Exterior features
Deck, Porch
Lot features
Corner, Level, Sidewalks, Street Lights
Middle school
Rochester Middle School
High school
Spaulding High School
Elementary school district
Rochester
Middle school district
Rochester
High school district
Rochester
Directions
GPS Friendly
Standard status
Active
Size
4,293 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6948
Utilities
Utilities
Cable Available
Heating system
Oil, Natural Gas, Ductless (Heating)
Water source
Public
Building Details
Year built
1925
Floors in Building
2
Number of units
3
Flooring type
Hardwood, Combination, Vinyl, Carpet
Building materials
Vinyl Exterior
Roof type
Fiberglass
Architectural style
Other
Listing Agency:
KW Coastal and Lakes & Mountains Realty/Dover · Keller Williams Realty
(603) 969-6632
Listed By:
Darlene Colwell-Ellis · License #042783
(603) 610-8500
Added: Jun 10
Changed: Aug 20
Last Checked: Aug 30 at 8:06PM
MLS# 5093833
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.
Investment Insights
Based on property information with market context.
This 4,293-square-foot mixed-use property occupies a 0.24-acre parcel and combines commercial, residential, and flexible office space. The first floor includes a restaurant, pizza, bar, and pool room under a 5-year lease, along with a smaller office/residential area. A large second-floor two-bedroom apartment features hardwood flooring, a three-season room, and a rooftop deck, while a separate one-bedroom apartment is rented. Major systems have been updated over time, and the building includes vinyl exterior construction, public water, and off-street parking.
Located near historic downtown Rochester, the property is close to restaurants, shopping, downtown amenities, and commuter routes. Neigh Mix zoning supports the property's mixed-use configuration, with commercial and residential components already in place.
Located near historic downtown Rochester, the property is close to restaurants, shopping, downtown amenities, and commuter routes. Neigh Mix zoning supports the property's mixed-use configuration, with commercial and residential components already in place.
Key Highlights
- 4,293‑square‑foot mixed‑use property on 0.24 acres
- First‑floor restaurant, pizza, bar, and pool room leased for a 5‑year term
- Oversized two‑bedroom apartment with hardwood floors, three‑season room, and rooftop deck
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$43,185
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$863,700
$863.7K
Cap Rate 7%
$616,929
$616.9K
Cap Rate 9%
$479,833
$479.8K
Market Conditions
NOI Build-Up for 4,293 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$74.7K $17.40/SF
− Vacancy
−$5.6K −$1.31/SF
EGI
$69.1K $16.10/SF
− OpEx
−$25.9K −$6.04/SF
NOI
$43.2K $10.06/SF
Area
Strafford County, NH
Vacancy
7.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$863,700
Cap Rate 7%
$616,929
Cap Rate 9%
$479,833
Alternative Uses
Best Use
Specialty Retail
$955.8K
$836.3K – $1.12M
NOI $66,904 @ 7.0% cap · market cap 10.99%
Second Best
Mixed Use
$616.9K
$539.8K – $719.8K
NOI $43,185 @ 7.0% cap · market cap 7.09%
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,396 @ 7.0% cap · market cap 13.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
428
Businesses Nearby
Explore this area
Business Placement
Demographics for 03867, NH
22,369
Population
10,458
Households
2.1
Avg Household Size
44
Median Age
25%
College-Educated
93%
High-School Grad
28.4 sq mi
ZIP Area
788
Density / Sq Mi
$74,397
Median Household Income
$42,613
Median Earnings
$1,217
Median Rent
$259,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Income-producing configuration combines a leased restaurant, two apartments, and flexible first-floor space near downtown amenities.
Where is this mixed-use property located?
The property is located at 66 Washington Street Rochester, NH.
What is the asking price?
The asking price for this property is $609,000.
What are key features of this property?
This property features: 4,293‑square‑foot mixed‑use property on 0.24 acres; First‑floor restaurant, pizza, bar, and pool room leased for a 5‑year term; Oversized two‑bedroom apartment with hardwood floors, three‑season room, and rooftop deck
