Building Details

Year Built 1900

Listing Agency: Dolan Real Estate (Cell

Listed By: Anthony Dolan Show Phone

Source: Aultcommercial

Added: Oct 25 Changed: Oct 28 Last Checked: Oct 28 at 7:51AM

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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 Dolan Real Estate (Cell

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Investment Insights

Based on property information with market context.

This five-unit apartment property sits on approximately 1.4 acres in New London. The unit mix consists of two one-bedroom apartments and three two-bedroom apartments. The building dates to 1900, and the property has a history of full occupancy and low tenant turnover.

Pleasant Lake, downtown New London, and Interstate 89 are among the nearby destinations. The property also offers access to shopping, dining, recreation, the Lake Sunapee Region, and employment centers throughout the Upper Valley.

The combination of five apartments and two bedroom configurations provides a range of residential layouts within one multifamily property.

Key Highlights

• Five apartments: two one‑bedroom units and three two‑bedroom units
• Approximately 1.4 acres in New London
• Building constructed in 1900

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$50,642

Cap Rate

5.33%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,012,840 $1.0M

Cap Rate 7%

$723,457 $723.5K

Cap Rate 9%

$562,689 $562.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,826 SF

Gross rent

$96.4K $25.20/SF

− Vacancy

−$4.3K −$1.13/SF

EGI

$92.1K $24.07/SF

− OpEx

−$41.4K −$10.83/SF

NOI

$50.6K $13.24/SF

Area

Merrimack County, NH

Vacancy

4.50%

Lease Rate

$25.20 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,012,840

Cap Rate 7%

$723,457

Cap Rate 9%

$562,689

Alternative Uses

Best Use

Apartment 5plus

$723.5K

$633.0K – $844.0K (±1% cap)

NOI $50,642 @ 7.0% cap · market cap 5.33%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$996.2K

$871.7K – $1.16M (±1% cap)

NOI $69,735 @ 7.0% cap · market cap 7.34%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

5

Residential units

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

355

Businesses Nearby

Explore this area Business Placement

Demographics for 03257, NH

4,513

Population

2,395

Households

1.9

Avg Household Size

51

Median Age

65%

College-Educated

99%

High-School Grad

23.6 sq mi

ZIP Area

191

Density / Sq Mi

$89,750

Median Household Income

$38,904

Median Earnings

$1,569

Median Rent

$469,000

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - A mix of one- and two-bedroom apartments serves renters seeking a residential setting near New London amenities.

Where is this apartment building located?

The property is located at 112 Hillcrest Drive New London, NH.

What is the asking price?

The asking price for this property is $950,000.

What are key features of this property?

This property features: Five apartments: two one‑bedroom units and three two‑bedroom units; Approximately 1.4 acres in New London; Building constructed in 1900