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

    22-24 South St Somersworth, NH 3878

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $545,000

    Well-maintained three-unit property with strong rental history and upgrades.

    Type:Investment
    Added:
    Apr 24, 2026
    Days on Market:
    5
    Last Refresh:
    Apr 24 at 8:32 pm

    Property Features for 22-24 South St

    General Information

    Standard status
    Active
    Property subtype
    Investment

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Ashley Flewelling
    Ashley Flewelling

    Listing agent Ashley Flewelling

    Listing office

    Listing date Apr 24, 2026

    Source Elliman

    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 Ashley Flewelling

    Overview

    Three-Unit Multifamily Investment Property

    This well-maintained three-unit property presents a strong investment opportunity. The property features two two-bedroom units and one one-bedroom unit. All units are currently leased, generating over $64,000 in annual gross income. Numerous upgrades have been completed within the last five years, including windows, the roof, and appliances. The property has a strong rental history with long-term income potential. The bike score is 31, indicating it is somewhat bikeable, and the walk score is 24, indicating car-dependent.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Somersworth
    County
    Strafford
    State
    New Hampshire
    Longitude
    -70.8649569
    Latitude
    43.2553324

    Nearby Similar for Sale

    • $499,000

      Freestanding Medical/Professional Office Building

      Highly visible Somersworth medical/professional office building for sale.
      504 High Street, Somersworth, NH 03878
      View Details
    • $475,000

      Charming Cape on Route 108

      Commercial/industrial zoned Cape-style home with flexible space and high visibility.
      213 Route 108, Somersworth, NH 03878
      View Details
    • $750,000
      3,915 SF

      Somersworth Multi-Family Investment Opportunity

      Four-unit property with updated systems, separate utilities, and off-street parking.
      223 High Street, Somersworth, NH 03878
      View Details
    • $145,000

      Somersworth Commercial Opportunity For Sale

      Commercial building with retail space and a four-bedroom apartment.
      90 Market Street, Somersworth, NH 03878
      View Details
    • $499,000

      Freestanding Medical/Office Building For Sale

      Freestanding medical/office building with high visibility on High Street.
      504 High St, Somersworth, NH
      View Details
    • $400,000
      3,640 SF

      Downtown Building Ready For Transformation

      Gutted building ready for mixed-use transformation in high-demand location.
      25 High Street, Somersworth, NH 03878
      View Details
    • $850,000

      Somersworth Multifamily Investment Opportunity

      Income-producing 6-unit property in Somersworth's Hilltop area.
      12-16 Highland St, Somersworth, NH 03878
      View Details
    • $399,000

      Somersworth Duplex with Large Backyard

      Two-unit duplex with large backyard in Somersworth, NH.
      21 Hanson St, Somersworth, NH 03878
      View Details
    • $850,000

      Somersworth Multifamily Investment Opportunity

      Income-producing 6-unit multifamily property in Somersworth's Hilltop area.
      12-16 Highland St, Somersworth, NH 03878
      View Details
    • $400,000
      3,640 SF

      Somersworth Mixed-Use Development Opportunity

      Gutted building ready for transformation into a mixed-use property.
      25 High Street, Somersworth, NH 03878
      View Details
    • $3,799,000

      Somersworth Multifamily Investment Opportunity

      17-unit apartment building in Somersworth's urban core.
      104 Green St, Somersworth, NH 03878
      View Details
    • $400,000

      Somersworth Mixed-Use Development Opportunity

      Gutted building ready for transformation into a mixed-use property.
      25 High Street, Somersworth, NH 03878
      View Details

    FAQs

    What type of property is this?
    Triplex - Well-maintained three-unit property with strong rental history and upgrades.
    Where is this triplex located?
    The property is located at 22-24 South St Somersworth, NH.
    What is the asking price?
    The asking price for this property is $545,000.
    What are key features of this property?
    This property features: Generates over $64,000 in annual gross income.; Three unit property featuring two 2‑bedroom units and one 1‑bedroom unit.; All units are currently leased, offering immediate income.
    (603) 546-8421
    We can help!
    Listing Contact
    Ashley Flewelling
    Ashley Flewelling
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!