Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    150 S Main St Newport, NH 03773

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contract
    $800,000

    Turnkey income property in Newport, NH with strong cash flow.

    Lot size:
    0.45 Acres

    Property Features for 150 S Main St

    General Information

    Property type
    Investment
    Standard status
    Contract
    Lot size
    0.45 Acres

    Building Details

    Year built
    1910

    We can help!

    Listing Contact
    Rich Racine
    Rich Racine
    Source: Elliman

    Listing Agent: Rich Racine

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Updated 7-Unit Multifamily Investment

    This expansive 7-unit multifamily building in Newport, New Hampshire, presents a turnkey investment opportunity. The property features modernized living spaces and low-maintenance operations. All seven units have been fully renovated with contemporary upgrades, including new flooring, modernized kitchens with updated cabinetry, countertops, and appliances, and fully remodeled bathrooms. Updated plumbing and electrical fixtures enhance efficiency and safety. The large building footprint includes abundant on-site parking for tenants and guests, as well as an on-site dumpster for waste management. Tenants are responsible for paying utilities, including heat, electric, and hot water. The property has a strong rental history in a stable residential market. Located on South Main Street, residents have walkable access to downtown Newport's shops, cafes, and services. The property is also located minutes from Newport Golf Club, and 20 minutes from Mount Sunapee Resort. Lake Sunapee and the Dartmouth-Lake Sunapee Region are also nearby.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Auto Repair Shop Big Box & Wholesale Store Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newport
    County
    Sullivan
    State
    New Hampshire
    Longitude
    -72.2102
    Latitude
    43.3489

    Nearby Similar for Sale

    • $595,000
      12,500 SF

      Versatile Commercial Property with Expansion Potential

      Adaptable 12,500 sq. ft. property suitable for various ventures.
      35 Spring St, Newport, NH 03773
      View Details
    • $498,000
      1,872 SF

      Newport Multi-Family Investment Opportunity

      Multi-family property near town, golf, and skiing.
      30 Pine St, Newport, NH 03773
      View Details
    • $800,000
      4,388 SF

      Updated Multifamily Investment Opportunity

      Fully updated 7-unit multifamily property in Newport, New Hampshire.
      150 S Main St, Newport, NH 03773
      View Details
    • $600,000
      3,534 SF

      Spacious Multi-Family Home

      Large home with 7 bedrooms, ideal for investors.
      36 Spring St, Newport, NH 03773
      View Details
    • $595,000

      Versatile Property with Endless Potential

      Unique 12,500 sq. ft. property suitable for various ventures.
      35 Spring St, Newport, NH 03773
      View Details
    • $199,000

      Versatile Commercial Property in Newport

      High-visibility corner lot suitable for retail, office, or workshop.
      80 Sunapee St, Newport, NH 03773
      View Details
    • $695,000

      Spacious Garage with Loading Docks

      Six-bay garage with loading docks on 1.7 acres.
      250 John Stark Hwy, Newport, NH 03773
      View Details
    • $695,000

      Spacious Garage with Loading Docks

      Six-bay garage with loading docks on 1.7 acres.
      250 John Stark Hwy, Newport, NH 03773
      View Details
    • $480,000
      Pending

      Newport NH Quadplex For Sale

      Cash flowing, fully rented quadplex in central Newport, NH.
      9 Depot St, Newport, NH 03773
      View Details
    • $800,000

      Newport, NH Commercial Property

      Commercial property for sale in Newport, New Hampshire.
      150 S Main St, Newport, NH 03773
      View Details
    • $199,000

      Versatile Commercial Property in Newport

      High-visibility corner lot with endless potential for various business ventures.
      80 Sunapee St, Newport, NH 03773
      View Details

    FAQs

    What type of property is this?
    Apartment building - Turnkey income property in Newport, NH with strong cash flow.
    Where is this apartment building located?
    The property is located at 150 S Main St Newport, NH.
    What is the asking price?
    The asking price for this property is $800,000.
    What are key features of this property?
    This property features: - Fully renovated 7-unit multifamily property offering immediate income.; - Tenant-paid utilities maximizing owner profitability.; - Prime location on South Main Street with walkable access to downtown Newport.
    (603) 255-5224
    Request Owner's contact information
    150 S Main St Newport, NH 03773
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    150 S Main St
    Newport, NH 03773
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    150 S Main St Newport, NH 03773
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Rich Racine
    Rich Racine
    Real Estate License ID: 72506
    (603) 255-5224 (603) 434-4101
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!