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    Multi-Family Land Development Site Title is generated by Realmo AI

    15-19 Atherton Avenue, Nashua, NH 03064

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    For Sale
    $1,450,000

    MULTI_FAMILY - Other - Nashua, NH

    Property size:
    2,297 SF
    Lot size:
    1.14 Acres
    Price / SF:
    $631/SF
    Added:
    Jan 18, 2026
    Days on Market:
    137
    Last Refresh:
    Jun 4 at 1:06 am

    Property Features for 15-19 Atherton Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Zoning
    RA
    Standard status
    Active
    Size
    2,297 SF
    Lot size
    1.14 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Floors in Building
    3
    Number of units
    20
    Building materials
    Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Viktoria Alkova
    Viktoria Alkova

    Listing agent Viktoria Alkova License #074657

    Listing office KW Coastal and Lakes & Mountains Realty 750 Lafayette Rd., Portsmouth, NH

    Listing date Jan 18, 2026

    MLS# 5074345 Listing URL

    Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 16‑unit residential townhome development opportunity in Nashua, NH, on Atherton Ave across from a park
    • Nashua Zoning Board of Adjustment granted variances on March 10, 2026 for the 16‑unit townhome plan
    • Two flat lots with natural gas and city utilities sized appropriately for connection at the street
    • Public water available for the development
    • Planned construction includes vinyl siding with forced‑air heating and central air conditioning
    • Roof to be shingle

    Overview

    The offering consists of two flat lots totaling 1.14 acres, presented for a multi-family townhome development. The project is supported by variances granted by the Nashua Zoning Board of Adjustment on March 10, 2026, establishing a path forward for a 16-unit residential townhome development. The seller notes that the lots are well suited for sitework, including the expectation of avoiding requirements such as road construction, blasting, or excess fill. Natural gas and all city utilities are described as sized appropriately and ready for connection at the street, while the buyer will be responsible for pursuing any remaining Planning Board approvals, site plan review, and permits. The buyer will also provide their own building plans to the PBA.

    The land is located at 15-19 Atherton Avenue in Nashua, New Hampshire, across from a park. The zoning is listed as RA.

    This site is positioned for an owner-developer or partner seeking to take a 16-unit townhome project through the remaining municipal approvals. Because the buyer must pursue planning and permitting and can select their own building plans, the property may fit teams looking for flexibility in design and potential phasing of the development schedule.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Nashua
    County
    Hillsborough
    State
    New Hampshire
    Longitude
    -71.4547915
    Latitude
    42.769118

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    FAQs

    What type of property is this?
    Residential land & home lot - Two flat lots with granted variances for a 16-unit townhome plan and utilities sized for connection at the street.
    Where is this residential land & home lot located?
    The property is located at 15-19 Atherton Avenue Nashua, NH.
    What is the asking price?
    The asking price for this property is $1,450,000.
    What are key features of this property?
    This property features: 16‑unit residential townhome development opportunity in Nashua, NH, on Atherton Ave across from a park; Nashua Zoning Board of Adjustment granted variances on March 10, 2026 for the 16‑unit townhome plan; Two flat lots with natural gas and city utilities sized appropriately for connection at the street
    (603) 610-8500
    We can help!
    Listing Contact
    Viktoria Alkova
    Viktoria Alkova
    Real Estate License ID: 074657
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    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.

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