Renovated Triplex with Historic
For Sale
$925,000
1 Old Manchester Road, Raymond, NH 03077
Three-unit property with updated interiors, separate utilities, multiple outbuildings, and parking on a landscaped corner parcel.
Property Size3,690 SF
Price / SF$250.68
Days on Market80
Property Features for 1 Old Manchester Road
General Information
Standard status
Active
Size
3,690 SF
Property subtype
Multi-Family
Zoning
C1
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Cap Rate
8.63%
Multifamily Units
3
Amenities
garage
barn
workshop
playground
mature gardens
brick walkways
stone walls
vegetable garden
washer/dryers
Building Details
Year Built
1848
Stories
2
Listing Agency:
Coldwell Banker Realty - Westford
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 2
Changed: Aug 20
Last Checked: Aug 20 at 4:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty - Westford
Investment Insights
Based on property information with market context.
Built in 1848, this 3,690-square-foot triplex combines historic detailing with extensive interior updates. The largest residence includes exposed beams, crown molding, hardwood flooring, a renovated kitchen, spacious bedrooms with walk-in closets, and a lower-level recreation room with bar and sitting area. The second unit offers an open kitchen and living area, while the third includes an open kitchen-living arrangement and a loft bedroom.
The property also includes 2 separate garages, a barn, and a workshop, along with parking and tenant-accessible washer/dryers. Separate utilities serve the units. Set on a corner lot across from the town commons, the grounds feature mature gardens, brick walkways, stone walls, a vegetable garden, and a playground. The property provides access to the Lamprey River, Rockingham trails, restaurants, and Route 101. Current cap rate is 8.63%, with potential over 11.29%.
The property also includes 2 separate garages, a barn, and a workshop, along with parking and tenant-accessible washer/dryers. Separate utilities serve the units. Set on a corner lot across from the town commons, the grounds feature mature gardens, brick walkways, stone walls, a vegetable garden, and a playground. The property provides access to the Lamprey River, Rockingham trails, restaurants, and Route 101. Current cap rate is 8.63%, with potential over 11.29%.
Key Highlights
- 3,690‑square‑foot triplex with 3 distinct residential units
- Originally built in 1848 with updated mechanical systems and renovated interiors
- 2 separate garages, a large barn, and a workshop
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
$62,162
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
6.72%
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%
$1,243,240
$1.2M
Cap Rate 7%
$888,029
$888.0K
Cap Rate 9%
$690,689
$690.7K
Market Conditions
NOI Build-Up for 3,690 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
$93.0K $25.20/SF
− Vacancy
−$4.2K −$1.13/SF
EGI
$88.8K $24.07/SF
− OpEx
−$26.6K −$7.22/SF
NOI
$62.2K $16.85/SF
Area
Rockingham County, NH
Vacancy
4.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,243,240
Cap Rate 7%
$888,029
Cap Rate 9%
$690,689
Alternative Uses
Best Use
Multifamily LT 5
$888.0K
$777.0K – $1.04M
NOI $62,162 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$799.9K
$699.9K – $933.3K
NOI $55,995 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$1.23M
$1.07M – $1.43M
NOI $85,995 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
63
Businesses Nearby
Explore this area
Business Placement
Demographics for 03077, NH
10,684
Population
4,521
Households
2.4
Avg Household Size
44
Median Age
25%
College-Educated
94%
High-School Grad
28.8 sq mi
ZIP Area
371
Density / Sq Mi
$92,002
Median Household Income
$48,544
Median Earnings
$1,380
Median Rent
$342,500
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?
Triplex - Three-unit property with updated interiors, separate utilities, multiple outbuildings, and parking on a landscaped corner parcel.
Where is this triplex located?
The property is located at 1 Old Manchester Road Raymond, NH.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 3,690‑square‑foot triplex with 3 distinct residential units; Originally built in 1848 with updated mechanical systems and renovated interiors; 2 separate garages, a large barn, and a workshop
