New Warehouse Condominium with
New
For Sale
$219,000
1853 Ragged Mountain Hwy Unit 3, Alexandria, NH 03222
New-construction warehouse condominium with tall clearance, a large overhead door, and supplemental mezzanine storage.
Property Size1,446 SF
Price / SF$151.45
Days on Market3
Property Features for 1853 Ragged Mountain Hwy Unit 3
General Information
Standard status
Active
Size
1,446 SF
Warehouse & Industrial
Clear Height
16 ft
Warehouse Space
1,188 SF
Mezzanine
252 SF
Drive-In Doors
1
Power
100 amps
Building Details
Year Built
2024
Listing Agency:
Old Mill Properties REALTORS
Listed By:
Lorna Platts Sirois · License #067572
(603) 744-8526
Source:
603propertygroup
Added: Sep 14
Last Checked: Sep 15 at 5:36PM
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 Old Mill Properties REALTORS
Investment Insights
Based on property information with market context.
Built in 2024, this 1,446-square-foot warehouse condominium provides a flexible storage footprint with a 12-by-21-foot mezzanine for additional capacity. The main area measures 22 by 54 feet and includes a 16-foot ceiling, 14-foot overhead door, automatic opener, and 100-amp electrical service. The layout can accommodate up to six vehicles and offers the clearance needed for a lift or RV storage.
Construction features include 6-inch insulated exterior walls and sheetrocked, primed interior walls. Optional improvements include epoxy flooring and a mini-split system for heating and air conditioning. The property is located at 1853 Ragged Mountain Hwy, Unit 3, in Alexandria, within New Hampshire’s Lakes Region.
Construction features include 6-inch insulated exterior walls and sheetrocked, primed interior walls. Optional improvements include epoxy flooring and a mini-split system for heating and air conditioning. The property is located at 1853 Ragged Mountain Hwy, Unit 3, in Alexandria, within New Hampshire’s Lakes Region.
Key Highlights
- 1,446‑square‑foot warehouse condominium built in 2024
- 12‑by‑21‑foot mezzanine adds a second storage level
- 16‑foot ceiling and 14‑foot overhead door
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
$15,978
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
7.30%
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%
$319,560
$319.6K
Cap Rate 7%
$228,257
$228.3K
Cap Rate 9%
$177,533
$177.5K
Market Conditions
NOI Build-Up for 1,446 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
$20.0K $13.80/SF
− Vacancy
−$1.2K −$0.80/SF
EGI
$18.8K $13.00/SF
− OpEx
−$2.8K −$1.95/SF
NOI
$16.0K $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%
$319,560
Cap Rate 7%
$228,257
Cap Rate 9%
$177,533
Alternative Uses
Best Use
Warehouse
$228.3K
$199.7K – $266.3K
NOI $15,978 @ 7.0% cap · market cap 7.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$318.1K
$278.3K – $371.1K
NOI $22,265 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
16 ft
Clear height
1
Drive-in doors
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - New-construction warehouse condominium with tall clearance, a large overhead door, and supplemental mezzanine storage.
Where is this warehouse located?
The property is located at 1853 Ragged Mountain Hwy Unit 3 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: 1,446‑square‑foot warehouse condominium built in 2024; 12‑by‑21‑foot mezzanine adds a second storage level; 16‑foot ceiling and 14‑foot overhead door
