Garage Condominium Warehouse
New
For Sale
$219,000
1853 Ragged Mountain Highway, Alexandria, NH 03222
Commercial Sale, Alexandria, NH
Property Size1,188 SF
Price / SF$184.34
Days on Market4
Property Features for 1853 Ragged Mountain Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Garage
Subdivision
Newfound Toy Vault
Lot features
Condo Development
Directions
From Downtown Bristol: At traffic light take Pleasant Street aka NH-104 West. Go 4.5 miles, take a LEFT #1853 across from Carroll Concrete. Drive up shared drive, continue to the Left. Building at the end. Unit #3 is third unit from far left of building.
Standard status
Active
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2577
Building Details
Year built
2024
Building materials
Wood Frame, Metal Siding
Roof type
Metal
Listing Agency:
Old Mill Properties REALTORS
(603) 744-8526
Listed By:
Lorna Platts Sirois · License #067572
(603) 630-6481
Added: Sep 11
Last Checked: Sep 14 at 11:06AM
MLS# 5109488
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.
Investment Insights
Based on property information with market context.
This 2024 garage condominium provides a secure warehouse-style storage unit measuring 22' x 54'. The space includes a 14' overhead door, 16' ceiling height, 6" insulated exterior walls, sheetrocked and primed interior walls, an automatic garage door opener, and 100 amp electrical service. A 12' x 21' mezzanine creates additional storage area, while the height may accommodate a vehicle lift or RV storage.
The unit is designed to hold up to 6 cars and includes garage parking. Planned property features include a gated entrance and video surveillance. Optional upgrades include epoxy flooring and a mini-split system for heating and air conditioning. The property is located at 1853 Ragged Mountain Highway in Alexandria, New Hampshire.
The unit is designed to hold up to 6 cars and includes garage parking. Planned property features include a gated entrance and video surveillance. Optional upgrades include epoxy flooring and a mini-split system for heating and air conditioning. The property is located at 1853 Ragged Mountain Highway in Alexandria, New Hampshire.
Key Highlights
- 22' x 54' garage condominium warehouse unit
- 14' overhead door and 16' ceiling height
- 12' x 21' mezzanine for additional 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
$13,127
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
5.99%
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%
$262,540
$262.5K
Cap Rate 7%
$187,529
$187.5K
Cap Rate 9%
$145,856
$145.9K
Market Conditions
NOI Build-Up for 1,188 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
$16.4K $13.80/SF
− Vacancy
−$951 −$0.80/SF
EGI
$15.4K $13.00/SF
− OpEx
−$2.3K −$1.95/SF
NOI
$13.1K $11.05/SF
Area
Grafton County, NH
Vacancy
5.80%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
15.00%
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%
$262,540
Cap Rate 7%
$187,529
Cap Rate 9%
$145,856
Alternative Uses
Best Use
Warehouse
$187.5K
$164.1K – $218.8K
NOI $13,127 @ 7.0% cap · market cap 5.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$261.3K
$228.7K – $304.9K
NOI $18,293 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
16 ft
Clear height
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 03222, NH
5,743
Population
4,071
Households
1.4
Avg Household Size
50
Median Age
28%
College-Educated
90%
High-School Grad
71.3 sq mi
ZIP Area
81
Density / Sq Mi
$78,535
Median Household Income
$43,453
Median Earnings
$1,246
Median Rent
$256,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
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Similar Off Market Nearby
- Alexandria Mini Storage LLC — 1548 Ragged Mountain Hwy, Alexandria, NH 03222
Frequently Asked Questions
What type of property is this?
Warehouse - Multi-level garage condominium with dedicated electrical service and flexible storage capacity.
Where is this warehouse located?
The property is located at 1853 Ragged Mountain Highway Alexandria, NH.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: 22' x 54' garage condominium warehouse unit; 14' overhead door and 16' ceiling height; 12' x 21' mezzanine for additional storage
