Concord Mixed-Use Investment
For Sale
$2,245,000
113 South Main Street, Concord, NH 03301
Four-property portfolio with residential and commercial income potential.
Property Size14,097 SF
Price / SF$159.25
Days on Market198
Property Features for 113 South Main Street
General Information
Standard status
Active
Size
14,097 SF
Property subtype
Multi Family
Zoning
CU
Taxes and HOA fees
Annual Taxes
$35,027
Amenities
Central AC, Other
Forced Air, Hot Water
Yes
2
Walk-up
Unfinished
Asphalt Shingle
Wood Frame
Building Details
Year Built
1900
Listing Agency:
Downtown Realty
(603) 554-2309
Listed By:
Matthew Lefebvre · License #070207
(603) 554-2309
Source:
Compass
Added: Feb 7
Changed: Aug 24
Last Checked: Jul 31 at 12:50PM
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 Downtown Realty
Investment Insights
Based on property information with market context.
This four-property portfolio in Concord, New Hampshire, presents a contiguous investment opportunity. The properties, located at 111 & 113 South Main Street, 4–6 Sexton Avenue, and 11 Whittridge Avenue, offer a mix of residential and commercial income across abutting parcels, with potential for future redevelopment and value-add. 111 South Main Street is a mixed-use property with three units: a street-level commercial space leased to a tattoo studio, a three-bedroom/one-bath apartment, and a two-bedroom/one-bath apartment. 113 South Main Street is a two-unit commercial building. One unit is occupied by a gym operator with a long-term lease, and the second is leased to a national pest control services provider. 4–6 Sexton Avenue is a three-unit multifamily building with two one-bedroom/one-bath apartments and one three-bedroom/one-bath apartment. 11 Whittridge Avenue is a duplex with two two-bedroom/one-bath units. The offering includes ten units across a strategic assemblage of parcels with frontage along South Main Street and access from adjacent residential streets. The property is fully stabilized with rental upside and mixed-use flexibility, presenting opportunities for rent growth, commercial lease-up, repositioning, or long-term redevelopment. Located just south of downtown Concord’s core, the properties benefit from strong visibility, convenient access to I-93, proximity to retail amenities, employment centers, and public transportation, as well as continued investment throughout the surrounding corridor.
Key Highlights
- Rare contiguous four‑property portfolio in Concord, NH, offering a mix of residential and commercial income.
- Fully stabilized property with strong commercial leases in place, providing immediate income.
- Significant value‑add potential** through rent growth, commercial lease‑up, repositioning, or long‑term redevelopment.
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
$186,592
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
8.31%
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%
$3,731,840
$3.7M
Cap Rate 7%
$2,665,600
$2.7M
Cap Rate 9%
$2,073,244
$2.1M
Market Conditions
NOI Build-Up for 14,097 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
$355.2K $25.20/SF
− Vacancy
−$16.0K −$1.13/SF
EGI
$339.3K $24.07/SF
− OpEx
−$152.7K −$10.83/SF
NOI
$186.6K $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 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%
$3,731,840
Cap Rate 7%
$2,665,600
Cap Rate 9%
$2,073,244
Alternative Uses
Best Use
Apartment 5plus
$2.67M
$2.33M – $3.11M
NOI $186,592 @ 7.0% cap · market cap 8.31%
Second Best
Mixed Use
$1.81M
$1.58M – $2.11M
NOI $126,450 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$3.67M
$3.21M – $4.28M
NOI $256,940 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,039
Businesses Nearby
Explore this area
Business Placement
Demographics for 03301, NH
33,352
Population
14,486
Households
2.3
Avg Household Size
43
Median Age
42%
College-Educated
92%
High-School Grad
49.2 sq mi
ZIP Area
678
Density / Sq Mi
$85,943
Median Household Income
$49,749
Median Earnings
$1,355
Median Rent
$344,300
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 - Four-property portfolio with residential and commercial income potential.
Where is this mixed-use property located?
The property is located at 113 South Main Street Concord, NH.
What is the asking price?
The asking price for this property is $2,245,000.
What are key features of this property?
This property features: Rare contiguous four‑property portfolio in Concord, NH, offering a mix of residential and commercial income.; Fully stabilized property with **strong commercial leases in place, providing immediate income.**; Significant value‑add potential** through rent growth, commercial lease‑up, repositioning, or long‑term redevelopment.
