Four-Unit Residential Income
For Sale
$739,900
17 Broad Street, Somersworth, NH 03878
Fully occupied four-unit property with updated exterior components, off-street parking, and a full unfinished basement for storage or expansion.
Property Size3,841 SF
Price / SF$192.63
Days on Market50
Property Features for 17 Broad Street
General Information
Standard status
Active
Size
3,841 SF
Property subtype
Multi Family
Zoning
R3H
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$10,945
Building Details
Year Built
1834
Stories
2
Tenancy
Multi
Listing Agency:
Realty One Group Next Level - Nashua
(603) 714-0874
Listed By:
Brianne Healey
(603) 714-0874
Source:
Laerrealty
Added: Jul 8
Changed: Aug 24
Last Checked: Aug 25 at 4:52AM
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 Realty One Group Next Level - Nashua
Investment Insights
Based on property information with market context.
This fully occupied four-unit residential income property offers 3,841 square feet of finished living space across four apartments with generously sized bedrooms, living rooms, and kitchens. The building combines modern updates with classic character, and recent improvements include updated siding, roof, windows, exterior stairs, and decking.
The property provides ample off-street parking, abundant storage space, and a full unfinished basement, along with additional attic storage. An expansive backyard adds outdoor space.
With four well-proportioned units and substantial storage and parking, the configuration is designed to support day-to-day resident convenience while helping minimize near-term exterior maintenance.
The property provides ample off-street parking, abundant storage space, and a full unfinished basement, along with additional attic storage. An expansive backyard adds outdoor space.
With four well-proportioned units and substantial storage and parking, the configuration is designed to support day-to-day resident convenience while helping minimize near-term exterior maintenance.
Key Highlights
- Fully occupied 4‑unit multifamily with 3,841 sq ft of finished living space
- Recent exterior improvements include updated siding, roof, windows, exterior stairs, and decking
- Ample off‑street parking plus abundant storage, including a full unfinished basement and additional attic storage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,992
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.27%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$779,840
$779.8K
Cap Rate 7%
$557,029
$557.0K
Cap Rate 9%
$433,244
$433.2K
Market Conditions
NOI Build-Up for 3,841 SF
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.
Gross rent
$57.6K $15.00/SF
− Vacancy
−$1.9K −$0.50/SF
EGI
$55.7K $14.50/SF
− OpEx
−$16.7K −$4.35/SF
NOI
$39.0K $10.15/SF
Area
Strafford County, NH
Vacancy
3.32%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$779,840
Cap Rate 7%
$557,029
Cap Rate 9%
$433,244
Alternative Uses
Best Use
Multifamily LT 5
$557.0K
$487.4K – $649.9K
NOI $38,992 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$513.7K
$449.5K – $599.4K
NOI $35,961 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$1.03M
$899.1K – $1.20M
NOI $71,931 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
376
Businesses Nearby
Explore this area
Business Placement
Demographics for 03878, NH
11,919
Population
5,722
Households
2.1
Avg Household Size
40
Median Age
29%
College-Educated
95%
High-School Grad
9.8 sq mi
ZIP Area
1,216
Density / Sq Mi
$79,691
Median Household Income
$47,638
Median Earnings
$1,410
Median Rent
$295,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied four-unit property with updated exterior components, off-street parking, and a full unfinished basement for storage or expansion.
Where is this quadplex located?
The property is located at 17 Broad Street Somersworth, NH.
What is the asking price?
The asking price for this property is $739,900.
What are key features of this property?
This property features: Fully occupied 4‑unit multifamily with 3,841 sq ft of finished living space; Recent exterior improvements include updated siding, roof, windows, exterior stairs, and decking; Ample off‑street parking plus abundant storage, including a full unfinished basement and additional attic storage
