Garage Condominium with
For Sale
$219,000
1853 Ragged Mountain Hwy Unit 7, Alexandria, NH 03222
Newly constructed garage condominium with high ceilings, an overhead door, and a dedicated mezzanine for added storage.
Property Size1,446 SF
Price / SF$151.45
Days on Market27
Property Features for 1853 Ragged Mountain Hwy Unit 7
General Information
Standard status
Active
Size
1,446 SF
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
1
Power
100 amps
Conditioned Warehouse
Yes
Building Details
Year Built
2024
Stories
1
Listing Agency:
Old Mill Properties REALTORS
(603) 744-8526
Listed By:
Lorna Platts Sirois · License #067572
Source:
603luxury
Added: Aug 2
Changed: Aug 28
Last Checked: Aug 28 at 1:05PM
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 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.
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 = 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
Property Profile
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
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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 7 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 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
