Building Details

Year Built 2024

Listing Agency: Old Mill Properties REALTORS

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

Source: Langelange

Added: Sep 10 Changed: Oct 26 Last Checked: Oct 28 at 2:58PM

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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 garage condominium provides 1,446 square feet of enclosed storage space at 1853 Ragged Mountain Hwy Unit 7. The unit includes a 14-foot overhead door, 16-foot ceiling height, epoxy flooring, 6-inch insulated exterior walls, sheetrocked and primed interior walls, and an automatic garage door opener. A mini-split system provides heat and air conditioning, while 100-amp electrical service supports the space. The configuration accommodates up to six cars and includes a 12-by-21-foot mezzanine that adds elevated storage. The property is located in Alexandria, New Hampshire, within the Lakes Region.

Key Highlights

• 1,446‑square‑foot garage condominium built in 2024
• 14‑foot overhead door with 16‑foot ceiling height
• 12‑by‑21‑foot mezzanine provides additional storage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,978

Cap Rate

7.30%

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 7.30%

Second Best

Self Storage

$202.8K

$177.5K – $236.6K (±1% cap)

NOI $14,196 @ 7.0% cap · market cap 6.48%

Theoretical Best

Office A

$318.1K

$278.3K – $371.1K (±1% cap)

NOI $22,265 @ 7.0% cap · market cap 10.17%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Self storage facilities

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

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?

Self storage facility - Newer condominium storage space with vehicle capacity, climate control, mezzanine storage, and dedicated electrical service.

Where is this self storage facility 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; 14‑foot overhead door with 16‑foot ceiling height; 12‑by‑21‑foot mezzanine provides additional storage