Three-Story 8-Unit Apartment
12 Grondin Dr Farmington, NH 03835
New
For Sale
$1,375,000
Fully occupied 8-unit apartment building with separately metered electricity and on-site off-street parking.
Property Size10,800 SF
Lot Size0.69 Acres
Price / SF$127.31
Days on Market3
Property Features for 12 Grondin Dr
General Information
- Standard status
- Active
- Size
- 10,800 SF
- Lot size
- 0.69 Acres
- Property subtype
- Investment
Building Details
- Year Built
- 1980
Listing Agency:
(978) 449-1378
Listed By:
Justin Porter
(978) 449-1378
Source:
Elliman
Added: Jul 22
Changed: Jul 23
Last Checked: Jul 23 at 5:31AM
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 Justin Porter
Investment Insights
Based on property information with market context.
This three-story, eight (8) unit residential building offers eight 2-bedroom/1-bath units with 10,800 square feet of gross living area. The property is separately metered for electricity, with tenants paying their own electric directly, while the landlord handles trash and recycling removal. Off-street parking is available on site. The building is 100% occupied and underwent substantial renovations in 2025, with more than $133,000 in capital improvements.
The property is located at 12 Grondin Drive in Farmington, New Hampshire. Showings are by appointment only, and occupants should not be disturbed.
Current in-place gross scheduled rent is $13,150 per month, or $157,800 annually, with unit rents ranging from $1,350 to $1,825 per month.
The property is located at 12 Grondin Drive in Farmington, New Hampshire. Showings are by appointment only, and occupants should not be disturbed.
Current in-place gross scheduled rent is $13,150 per month, or $157,800 annually, with unit rents ranging from $1,350 to $1,825 per month.
Key Highlights
- 8‑unit, three‑story residential building on 0.69 acres in Farmington, NH (built 1980)
- All units are 2‑bedroom/1‑bath with 10,800 SF of gross living area
- 100% occupied with in‑place gross scheduled rent of $13,150/month ($157,800 annually)
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $190.5k | $17.64 |
| − Vacancy | −$6.7k | −$0.62 |
| EGI | $183.8k | $17.02 |
| − OpEx | −$82.7k | −$7.66 |
| NOI | $101.1k | $9.36 |
10,800 SF · lease $17.64/SF/yr · vacancy 3.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.44M
$1.26M – $1.69M
NOI $101,114 @ 7.0% cap · market cap 7.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.89M
$2.53M – $3.37M
NOI $202,254 @ 7.0% cap · market cap 14.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Fully occupied 8-unit apartment building with separately metered electricity and on-site off-street parking.
Where is this apartment building located?
The property is located at 12 Grondin Dr Farmington, NH.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: 8‑unit, three‑story residential building on 0.69 acres in Farmington, NH (built 1980); All units are 2‑bedroom/1‑bath with 10,800 SF of gross living area; 100% occupied with in‑place gross scheduled rent of $13,150/month ($157,800 annually)
