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Building Details

Building Size 14,662 SF

Year Built 2019

Units 13

Tenancy Multi

Listing Agency: SVN | The Masiello Group

Listed By: Patti Visconte · License ##48351 Show Phone

Source: Commercialcafe

Added: Jul 13 Changed: Oct 11 Last Checked: Oct 14 at 8:29PM

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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.

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

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$222,492

Cap Rate

5.30%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,449,840 $4.4M

Cap Rate 7%

$3,178,457 $3.2M

Cap Rate 9%

$2,472,133 $2.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 14,662 SF

Gross rent

$422.3K $28.80/SF

− Vacancy

−$17.7K −$1.21/SF

EGI

$404.5K $27.59/SF

− OpEx

−$182.0K −$12.42/SF

NOI

$222.5K $15.17/SF

Area

Rockingham County, NH

Vacancy

4.20%

Lease Rate

$28.80 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,449,840

Cap Rate 7%

$3,178,457

Cap Rate 9%

$2,472,133

Alternative Uses

Best Use

Apartment 5plus

$3.18M

$2.78M – $3.71M (±1% cap)

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 (±1% cap)

NOI $341,697 @ 7.0% cap · market cap 8.14%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Integrity Kitchen & Bath Hardware & Home Improvement

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Auto Repair Shop Restaurant Auto Parts Store Dental Office

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

13

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Turnkey business

Opportunity

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

167

Businesses Nearby

Explore this area Business Placement

Demographics for 03885, NH

7,660

Population

3,019

Households

2.5

Avg Household Size

45

Median Age

66%

College-Educated

99%

High-School Grad

15.1 sq mi

ZIP Area

507

Density / Sq Mi

$141,438

Median Household Income

$74,458

Median Earnings

$2,265

Median Rent

$599,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

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