Two-Level Restaurant
For Sale
$325,000
12-2015 Main St, Bethlehem, NH 03574
Restaurant condo with two levels, a bar area, and seasonal sidewalk dining built for a full guest experience.
Property Size1,900 SF
Price / SF$171.05
Days on Market74
Property Features for 12-2015 Main St
General Information
Standard status
Active
Size
1,900 SF
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$1,679
Building Details
Stories
2
Listing Agency:
Badger Peabody & Smith Realty
(603) 823-5700
Listed By:
Mary M Doherty · License #053401
(603) 823-5700
Source:
Exprealty
Added: Jun 8
Changed: Aug 11
Last Checked: Aug 20 at 10:26AM
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 Badger Peabody & Smith Realty
Investment Insights
Based on property information with market context.
This offering includes a 1,900± SF, two-level restaurant condominium unit within a building that is shared with five other businesses. The space features an intimate dining room with well-spaced tables and a warm, social bar area. Seasonal outdoor dining is accommodated along the sidewalk with white picket fencing and seasonal plantings, creating a defined guest area during warmer months.
The restaurant is located on Main Street in downtown Bethlehem, NH, with positioning directly across from the historic Colonial Theater. The setup supports both pre- and post-show dining, including increased activity during the busy summer and fall seasons.
For a restaurateur or owner-operator seeking an operational food-and-beverage concept, this represents a turnkey restaurant setup with an established in-building tenant mix and a layout designed for both seated dining and bar-focused socialization. The combination of interior two-level space and seasonal sidewalk seating offers a practical way to serve guests throughout more of the year while maintaining an on-brand, neighborhood-style dining atmosphere.
The restaurant is located on Main Street in downtown Bethlehem, NH, with positioning directly across from the historic Colonial Theater. The setup supports both pre- and post-show dining, including increased activity during the busy summer and fall seasons.
For a restaurateur or owner-operator seeking an operational food-and-beverage concept, this represents a turnkey restaurant setup with an established in-building tenant mix and a layout designed for both seated dining and bar-focused socialization. The combination of interior two-level space and seasonal sidewalk seating offers a practical way to serve guests throughout more of the year while maintaining an on-brand, neighborhood-style dining atmosphere.
Key Highlights
- Includes a 1,900± SF two‑level condominium unit operated as the Cold Mountain Cafe
- Restaurant is located in downtown Bethlehem, NH in a building shared with five other successful businesses
- Dining room with a warm, social bar area for guest seating on‑site
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
$28,379
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
8.73%
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%
$567,580
$567.6K
Cap Rate 7%
$405,414
$405.4K
Cap Rate 9%
$315,322
$315.3K
Market Conditions
NOI Build-Up for 1,900 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
$41.0K $21.60/SF
− Vacancy
−$3.2K −$1.68/SF
EGI
$37.8K $19.92/SF
− OpEx
−$9.5K −$4.98/SF
NOI
$28.4K $14.94/SF
Area
Grafton County, NH
Vacancy
7.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$567,580
Cap Rate 7%
$405,414
Cap Rate 9%
$315,322
Alternative Uses
Best Use
Specialty Retail
$405.4K
$354.7K – $473.0K
NOI $28,379 @ 7.0% cap · market cap 8.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$417.9K
$365.7K – $487.6K
NOI $29,256 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
73
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 03574, NH
2,514
Population
1,401
Households
1.8
Avg Household Size
48
Median Age
45%
College-Educated
96%
High-School Grad
91.0 sq mi
ZIP Area
28
Density / Sq Mi
$83,870
Median Household Income
$47,743
Median Earnings
$1,079
Median Rent
$268,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant condo with two levels, a bar area, and seasonal sidewalk dining built for a full guest experience.
Where is this conventional restaurant located?
The property is located at 12-2015 Main St Bethlehem, NH.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Includes a 1,900± SF two‑level condominium unit operated as the Cold Mountain Cafe; Restaurant is located in downtown Bethlehem, NH in a building shared with five other successful businesses; Dining room with a warm, social bar area for guest seating on‑site
