New Garage
For Sale
$209,000
1853 Ragged Mountain Highway, Alexandria, NH 03222
Commercial Sale, Alexandria, NH
Property Size1,188 SF
Price / SF$175.93
Days on Market111
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
Near Paths, Near Skiing, Near Snowmobile Trails, 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 #8 is 3rd unit from the right side of the building.
Standard status
Active
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2436
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) 744-8526
Added: May 8
Changed: Aug 19
Last Checked: Aug 26 at 7:06PM
MLS# 5087833
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.
Constructed in 2024, this garage condominium provides a flexible enclosed storage environment within a wood-frame building with metal siding and a metal roof. The unit measures 22 feet by 54 feet and features a 16-foot ceiling, 14-foot overhead door, automatic opener, 6-inch insulated exterior walls, and sheetrocked, primed interior walls. A 100-amp electrical service supports the space, while the vertical clearance allows for potential lift installation or indoor RV storage. The layout can accommodate up to six cars along with boats, snowmobiles, ATVs, or contractor materials.
The property is located at 1853 Ragged Mountain Highway in Alexandria, New Hampshire, with access from a state road and east-west connectivity. Garage parking is provided, and the unit is part of a gated facility with video surveillance planned. Optional epoxy flooring and a mini-split heating and cooling system are identified as available upgrades.
The property is located at 1853 Ragged Mountain Highway in Alexandria, New Hampshire, with access from a state road and east-west connectivity. Garage parking is provided, and the unit is part of a gated facility with video surveillance planned. Optional epoxy flooring and a mini-split heating and cooling system are identified as available upgrades.
Key Highlights
- 22' x 54' garage condominium unit
- 16' ceiling height with a 14' overhead door
- 100 amp electrical service and automatic garage door opener
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
6.28%
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 6.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$261.3K
$228.7K – $304.9K
NOI $18,293 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
1
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
7
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
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Parking lot & garage - Newly built garage condominium with tall clearance, substantial storage capacity, and dedicated electrical service.
Where is this parking lot & garage located?
The property is located at 1853 Ragged Mountain Highway Alexandria, NH.
What is the asking price?
The asking price for this property is $209,000.
What are key features of this property?
This property features: 22' x 54' garage condominium unit; 16' ceiling height with a 14' overhead door; 100 amp electrical service and automatic garage door opener
