2019 Built Multifamily
147 & 151 Portsmouth Ave Stratham, NH 03885
New
147 & 151 Portsmouth Ave, Stratham, NH, 03885
$4,200,000
For Sale
$4,200,000
Two 2019-built buildings offer 13 units with separately metered utilities and reported full occupancy.
Property Size14,662 SF
Price / SF$286.45
Days on Market4
Property Features for 147 & 151 Portsmouth Ave
General Information
- Standard status
- Active
- Size
- 14,662 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 2019
Listing Agency
SVN | The Masiello Group
Listed by
Patti Visconte
Source
Commercialcafe
Added: Jul 13 Checked: Jul 16 at 2:21 am
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 SVN | The Masiello Group
Investment Insights
Based on property information with market context.
This offering includes two apartment buildings constructed in 2019, totaling 13 units, with separately metered utilities. The current operating status is described as reported 100% occupancy, presenting a turn-key income-focused asset. The property is presented as a mixed-use portfolio opportunity under its TC Town Center zoning.
The buildings are located at 147 & 151 Portsmouth Ave in Stratham, NH, with immediate highway accessibility highlighted in the remarks for tenant demand.
Based on the provided information, the property is zoned TC Town Center, with the remarks noting potential for a condo conversion as part of the long-term value proposition.
The buildings are located at 147 & 151 Portsmouth Ave in Stratham, NH, with immediate highway accessibility highlighted in the remarks for tenant demand.
Based on the provided information, the property is zoned TC Town Center, with the remarks noting potential for a condo conversion as part of the long-term value proposition.
Key Highlights
- Two buildings built in 2019 totaling 14,662 SF, providing 13 residential units
- 13 units with separately metered utilities
- Reported 100% occupancy with no reported vacancy
Local 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 | $422.3k | $28.80 |
| − Vacancy | −$17.7k | −$1.21 |
| EGI | $404.5k | $27.59 |
| − OpEx | −$182.0k | −$12.42 |
| NOI | $222.5k | $15.17 |
14,662 SF · lease $28.80/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.18M
$2.78M – $3.71M
NOI $222,492 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.88M
$4.27M – $5.69M
NOI $341,697 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Integrity Kitchen & Bath
Hardware & Home Improvement
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Two 2019-built buildings offer 13 units with separately metered utilities and reported full occupancy.
Where is this apartment building located?
The property is located at 147 & 151 Portsmouth Ave Stratham, NH.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: Two buildings built in 2019 totaling 14,662 SF, providing 13 residential units; 13 units with separately metered utilities; Reported 100% occupancy with no reported vacancy
