Garage Condominium
For Sale
$229,000
1853 Ragged Mountain Hwy Unit 6, Alexandria, NH 03222
Newly constructed private storage unit with substantial vertical clearance, dedicated electrical service, and finished interior surfaces.
Property Size1,446 SF
Price / SF$158.37
Days on Market22
Property Features for 1853 Ragged Mountain Hwy Unit 6
General Information
Standard status
Active
Size
1,446 SF
Warehouse & Industrial
Clear Height
16 ft
Mezzanine
252 SF
Drive-In Doors
1
Power
100 amps
Building Details
Year Built
2024
Listing Agency:
Old Mill Properties REALTORS
(603) 744-8526
Listed By:
Lorna Platts Sirois · License #067572
Source:
Carolslocum
Added: Aug 9
Changed: Aug 29
Last Checked: Aug 30 at 7:43PM
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.
This 2024 garage condominium provides 1,446 square feet within a 22-foot by 54-foot footprint. The unit includes a 14-foot overhead door, 16-foot ceiling height, 6-inch insulated exterior walls, sheetrocked and primed interior walls, an automatic garage door opener, and 100-amp electrical service. The configuration accommodates up to 6 cars and offers sufficient height for a lift or RV storage.
Additional improvements include a 12-foot by 21-foot mezzanine, epoxy flooring, and storage capacity across two levels. The property is located at 1853 Ragged Mountain Hwy Unit 6 in Alexandria, New Hampshire, within the Lakes Region. A mini-split system for heating and air conditioning is identified as an available upgrade.
Additional improvements include a 12-foot by 21-foot mezzanine, epoxy flooring, and storage capacity across two levels. The property is located at 1853 Ragged Mountain Hwy Unit 6 in Alexandria, New Hampshire, within the Lakes Region. A mini-split system for heating and air conditioning is identified as an available upgrade.
Key Highlights
- 1,446‑square‑foot garage condominium built in 2024
- 22‑foot by 54‑foot unit with a 14‑foot overhead door
- 16‑foot ceiling height supports lift or RV 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
$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
6.98%
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 6.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$318.1K
$278.3K – $371.1K
NOI $22,265 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 - Newly constructed private storage unit with substantial vertical clearance, dedicated electrical service, and finished interior surfaces.
Where is this warehouse 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; 22‑foot by 54‑foot unit with a 14‑foot overhead door; 16‑foot ceiling height supports lift or RV storage
