Garage Condominium Storage
New
For Sale
$219,000
1853 Ragged Mountain Hwy Unit 7, Alexandria, NH 03222
Newer condominium storage space with vehicle capacity, climate control, mezzanine storage, and dedicated electrical service.
Property Size1,446 SF
Price / SF$151.45
Days on Market5
Property Features for 1853 Ragged Mountain Hwy Unit 7
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:
Langelange
Added: Sep 10
Last Checked: Sep 13 at 11:35AM
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 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 = 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
Self Storage
$202.8K
$177.5K – $236.6K
NOI $14,196 @ 7.0% cap · market cap 6.48%
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
Current Use
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
Questions? Ask Rey
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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
