Pittsfield Mixed-Use Development
For Sale
$729,900
2 Depot & 27 Carroll ST, Pittsfield, NH 03263
Four lots with two buildings, potential for 27+ units.
Property Size16,057 SF
Price / SF$45.46
Days on Market119
Property Features for 2 Depot & 27 Carroll ST
General Information
Standard status
Active
Size
16,057 SF
Property subtype
Multi-Family
Zoning
R2
Building Details
Building Size
16,057 SF
Year Built
1960
Stories
2
Listing Agency:
RE/MAX Shoreline
(603) 969-6216
Listed By:
Andy Yau · License #074320
Source:
Hometown-team
Added: Apr 27
Changed: Aug 8
Last Checked: Aug 3 at 1:31PM
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 RE/MAX Shoreline
Investment Insights
Based on property information with market context.
This package features four separate lots, encompassing approximately 20,000 square feet between two buildings, with the potential for over 27 units. A vacant parcel offers space for around 30 parking spaces or future development. Included is a well-maintained 5-unit building featuring 6,769 square feet of finished space. This building has a cap rate exceeding 13.5% and long-term tenants. There is potential for subdivision and conversion of commercial and unfinished areas, possibly creating over 15 total units. Recent updates include renovated kitchens and baths in select units, newer flooring, a young roof, and a highly efficient Buderus boiler. Also included is a mixed-use building of over 8,300 square feet that formerly operated as a pizza restaurant, with restaurant equipment still in place including pizza ovens, fridges, and burners. The upper floors require renovation but offer substantial square footage with the potential for over 9 additional apartments, contributing to the combined 27+ unit potential. Located in downtown Pittsfield, tenants have walkable access to shops, restaurants, and everyday conveniences, with Drake Field and the Suncook River nearby. Concord is under 30 minutes away, with Boston and Portsmouth also within reach. Buyers are to perform their own due diligence regarding approvals, permitted uses, parking requirements, and development potential.
Key Highlights
- High‑Cap Rate: Existing 5‑unit building boasts a cap rate exceeding 13.5% with strong long‑term tenants.
- Development Potential: Package of 4 lots with potential for 27+ units through subdivision, conversion, and new construction.
- Mixed‑Use Building: Includes a large 8,300+ SF mixed‑use building with existing restaurant equipment.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
199
Businesses Nearby
Explore this area
Business Placement
Demographics for 03263, NH
4,094
Population
1,868
Households
2.2
Avg Household Size
41
Median Age
20%
College-Educated
91%
High-School Grad
24.5 sq mi
ZIP Area
167
Density / Sq Mi
$66,823
Median Household Income
$43,466
Median Earnings
$1,185
Median Rent
$270,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Four lots with two buildings, potential for 27+ units.
Where is this apartment building located?
The property is located at 2 Depot & 27 Carroll ST Pittsfield, NH.
What is the asking price?
The asking price for this property is $729,900.
What are key features of this property?
This property features: High‑Cap Rate: Existing 5‑unit building boasts a cap rate exceeding 13.5% with strong long‑term tenants.; Development Potential: Package of 4 lots with potential for 27+ units through subdivision, conversion, and new construction.; Mixed‑Use Building: Includes a large 8,300+ SF mixed‑use building with existing restaurant equipment.
