Garage Condominium Storage
For Sale
$219,000
2-1853 Ragged Mountain Hwy, Alexandria, NH 03222
Newly constructed garage condo with a 14’ overhead door and 16’ ceiling height for vehicle and storage use.
Property Size1,188 SF
Price / SF$184.34
Days on Market121
Property Features for 2-1853 Ragged Mountain Hwy
General Information
Standard status
Active
Size
1,188 SF
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$2,577
Building Details
Stories
2
Listing Agency:
Old Mill Properties REALTORS
Listed By:
Lorna Platts Sirois · License #067572
(603) 744-8526
Source:
Exprealty
Added: May 8
Changed: Aug 31
Last Checked: Sep 5 at 9:51AM
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.
Newfound Toy Vault presents a newly constructed garage condominium unit with a 22’ x 54’ footprint, a 14’ overhead door, and a 16’ ceiling height. The interior includes sheetrocked and primed walls and features 6” insulated exterior walls. An automatic garage door opener and 100 amp electrical service are provided. The unit is described as accommodating up to 6 cars and includes a 12’ x 21’ mezzanine for added storage.
The property is located at 2-1853 Ragged Mountain Hwy in Alexandria, NH, within the context of a gated facility. Public remarks also note gated entrance and video surveillance are coming soon.
Additional available upgrades include epoxy floors and a mini-split unit for heat and A/C. The unit is listed with a quarterly association fee of $380.25.
The property is located at 2-1853 Ragged Mountain Hwy in Alexandria, NH, within the context of a gated facility. Public remarks also note gated entrance and video surveillance are coming soon.
Additional available upgrades include epoxy floors and a mini-split unit for heat and A/C. The unit is listed with a quarterly association fee of $380.25.
Key Highlights
- Newly constructed garage condo unit measuring 22' x 54' in NH's Lakes Region
- 14' overhead door with 16' ceiling height designed for vehicle and high‑clearance storage
- Includes 100 amp electrical service, automatic garage door opener, and 6'' insulated exterior walls
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
$13,127
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
5.99%
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%
$262,540
$262.5K
Cap Rate 7%
$187,529
$187.5K
Cap Rate 9%
$145,856
$145.9K
Market Conditions
NOI Build-Up for 1,188 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
$16.4K $13.80/SF
− Vacancy
−$951 −$0.80/SF
EGI
$15.4K $13.00/SF
− OpEx
−$2.3K −$1.95/SF
NOI
$13.1K $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%
$262,540
Cap Rate 7%
$187,529
Cap Rate 9%
$145,856
Alternative Uses
Best Use
Warehouse
$187.5K
$164.1K – $218.8K
NOI $13,127 @ 7.0% cap · market cap 5.99%
Second Best
Self Storage
$166.6K
$145.8K – $194.4K
NOI $11,663 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$261.3K
$228.7K – $304.9K
NOI $18,293 @ 7.0% cap · market cap 8.35%
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
26
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 - Newly constructed garage condo with a 14’ overhead door and 16’ ceiling height for vehicle and storage use.
Where is this self storage facility located?
The property is located at 2-1853 Ragged Mountain Hwy 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: Newly constructed garage condo unit measuring 22' x 54' in NH's Lakes Region; 14' overhead door with 16' ceiling height designed for vehicle and high‑clearance storage; Includes 100 amp electrical service, automatic garage door opener, and 6'' insulated exterior walls
