Three-Story 8-Unit Apartment
For Sale
$1,375,000
12 Grondin Dr, Farmington, NH 03835
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 Market95
Property Features for 12 Grondin Dr
General Information
Standard status
Active
Size
10,800 SF
Lot size
0.69 Acres
Property subtype
Residential Income
Occupancy
100%
Additional Details
Cap Rate
7.19%
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$17,752
Building Details
Year Renovated
2025
Stories
3
Listing Agency:
EXP Realty
(888) 398-7062
Listed By:
Justin Porter
(603) 440-5316
Source:
Exprealty
Added: Jul 21
Changed: Oct 19
Last Checked: Oct 20 at 9:53PM
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 EXP Realty
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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
Estimated NOI and Cap Rate
NOI / Yr
$101,114
Cap Rate
7.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,022,280
$2.0M
Cap Rate 7%
$1,444,486
$1.4M
Cap Rate 9%
$1,123,489
$1.1M
Market Conditions
NOI Build-Up for 10,800 SF
Gross rent
$190.5K $17.64/SF
− Vacancy
−$6.7K −$0.62/SF
EGI
$183.8K $17.02/SF
− OpEx
−$82.7K −$7.66/SF
NOI
$101.1K $9.36/SF
Area
Strafford County, NH
Vacancy
3.50%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,022,280
Cap Rate 7%
$1,444,486
Cap Rate 9%
$1,123,489
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 authorities.
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Property Analytics
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Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Explore this area
Business Placement
Demographics for 03835, NH
6,758
Population
2,994
Households
2.3
Avg Household Size
44
Median Age
20%
College-Educated
89%
High-School Grad
36.8 sq mi
ZIP Area
184
Density / Sq Mi
$63,704
Median Household Income
$33,333
Median Earnings
$963
Median Rent
$273,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
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)
