Building Details

Year Built 2024

Stories 1

Listing Agency: Old Mill Properties REALTORS

Listed By: Lorna Platts Sirois · License #067572 Show Phone

Source: Carolslocum

Added: Aug 2 Changed: Oct 15 Last Checked: Oct 7 at 3:29PM

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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

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Investment Insights

Based on property information with market context.

Built in 2024, this 1,446-square-foot garage condominium measures approximately 22 feet by 54 feet and provides a flexible enclosed storage layout. The unit includes a 14-foot overhead door, 16-foot ceiling height, 6-inch insulated exterior walls, sheetrocked and primed interior walls, an automatic door opener, and 100 amp electrical service. The configuration can accommodate up to 6 cars and offers room for vehicle storage or equipment placement.

A 12-by-21-foot mezzanine creates additional elevated storage area within the unit. The property is located on Ragged Mountain Hwy in Alexandria, within New Hampshire’s Lakes Region.

Key Highlights

• 1,446‑square‑foot garage condominium built in 2024
• Approximately 22 feet by 54 feet with 16‑foot ceiling height
• 14‑foot overhead door with automatic garage door opener

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,978

Cap Rate

6.98%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$319,560 $319.6K

Cap Rate 7%

$228,257 $228.3K

Cap Rate 9%

$177,533 $177.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,446 SF

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 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 (±1% cap)

NOI $15,978 @ 7.0% cap · market cap 6.98%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$318.1K

$278.3K – $371.1K (±1% cap)

NOI $22,265 @ 7.0% cap · market cap 9.72%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Parking lots & garages

Suggested Use

Top Pick Auto Repair Shop Building Supply Bakery Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Similar For Sale Nearby

See more

Garage Condominium Storage Unit

6-1853 Ragged Mountain Hwy, Alexandria, NH 03222

$229,000

View details

Garage Condominium with Mezzanine

3-1853 Ragged Mountain Hwy, Alexandria, NH 03222

$219,000

View details

Frequently Asked Questions

What type of property is this?

Parking lot & garage - Newly constructed garage condominium with high ceilings, an overhead door, and a dedicated mezzanine for added storage.

Where is this parking lot & garage located?

The property is located at 1853 Ragged Mountain Hwy Unit 6 Alexandria, NH.

What is the asking price?

The asking price for this property is $229,000.

What are key features of this property?

This property features: 1,446‑square‑foot garage condominium built in 2024; Approximately 22 feet by 54 feet with 16‑foot ceiling height; 14‑foot overhead door with automatic garage door opener