Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Multifamily Property with Mixed-Use Building Title is generated by Realmo AI

    2 Depot & 27 Carroll Street, Pittsfield, NH 03263

    View on Map
    Claim this Listing
    For Sale
    $729,900

    MULTI_FAMILY - Other - Pittsfield, NH

    Property size:
    16,057 SF
    Lot size:
    0.76 Acres
    Price / SF:
    $45/SF
    Added:
    May 13, 2026
    Days on Market:
    23
    Last Refresh:
    Jun 4 at 5:06 am

    Property Features for 2 Depot & 27 Carroll Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R2
    Bedrooms
    7
    Bathrooms
    10
    Rooms
    Bedroom 7, Bedroom 1, Bathroom 2, Bathroom 7, Bedroom 5, Bathroom 5, Bathroom 8, Bathroom 1, Bedroom 3, Bathroom 9, Bedroom 4, Bedroom 6, Bathroom 6, Basement, Bathroom 4, Bathroom 10, Bedroom 2, Bathroom 3
    Standard status
    Active
    Size
    16,057 SF
    Lot size
    0.76 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Baseboard, Hot Water(Heating), Oil
    Water source
    Public

    Building Details

    Year built
    1960
    Floors in Building
    2
    Number of units
    10
    Building materials
    Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Andy Yau
    Andy Yau

    Listing agent Andy Yau License #074320

    Listing office RE/MAX Shoreline 875 Greenland Rd., Portsmouth, NH

    Listing date May 13, 2026

    MLS# 5088472 Listing URL

    Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Package of 4 separate lots with approximately 20,000 SF between two large buildings, with potential for 27+ units.
    • 5‑unit building with 6,769 SF of finished space; cap rate exceeding 13.5% and strong long‑term tenants already in place.
    • Vacant parcel can accommodate approximately 30 parking spaces, with potential for future development opportunities.
    • Massive 8,300+ SF mixed‑use building formerly operated as a pizza restaurant; substantial restaurant equipment remains (pizza ovens, fridges, burners).
    • Renovations/upgrades include renovated kitchens and baths in select units, newer flooring, a young roof, and a highly efficient Buderus boiler.
    • Water source is public; utilities include cable available; heating includes baseboard and hot water heating with oil.

    Overview

    This sale packages four separate lots and approximately 20,000 SF between two large buildings, with room to reconfigure the property for 27+ total units based on the stated layout potential. The well-maintained 5-unit building totals 6,769 SF of finished space, and recent improvements include renovated kitchens and baths in select units, newer flooring, a young roof, and a highly efficient Buderus boiler. The second asset is a large 8,300+ SF mixed-use building that previously operated as a pizza restaurant and still includes substantial restaurant equipment, including pizza ovens, fridges, and burners. The upper floors require renovation and are described as having potential for 9+ additional apartments. The vacant parcel is described as accommodating approximately 30 parking spaces or supporting future development.

    The property is located in the heart of downtown Pittsfield, providing walkable access to shops, restaurants, and everyday conveniences. Drake Field and the Suncook River are nearby for outdoor recreation, and Concord is described as under 30 minutes away, with Boston and Portsmouth also within reach. Buyers are instructed to perform their own due diligence regarding approvals, permitted uses, parking requirements, and development potential.

    For operators and investors seeking a multi-building package, this offering combines an updated 5-unit component with a significant mixed-use structure that may support apartment conversion and/or subdivision, subject to approvals. The seller also notes an indicated cap rate exceeding 13.5% for the 5-unit building and highlights existing long-term tenants, while leaving development decisions and permitting outcomes to buyer verification. Private showings are scheduled for Friday 4–6 PM and Saturday 1–3 PM.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pittsfield
    County
    Merrimack
    State
    New Hampshire
    Longitude
    -71.324502
    Latitude
    43.305357

    Nearby Similar for Sale

    • $250,000
      8,300 SF

      Mixed-Use Building with Restaurant Equipment

      Large building with restaurant equipment and development potential.
      27 Carroll Street, Pittsfield, NH 03263
      View Details
    • $999,000
      3,800 SF

      Versatile Multi-Family Property, Pittsfield

      4-acre property with multi-unit home, barn, and commercial zoning.
      79 High Street, Pittsfield, NH 03263
      View Details
    • $250,000
      8,300 SF

      Restaurant-Equipped Mixed-Use Building

      Mixed-use property with retained pizza restaurant equipment, a ground-floor commercial unit, and upper-floor space suited for apartments.
      27 Carroll Street, Pittsfield, NH 03263
      View Details
    • $700,000
      6,726 SF

      Mixed-Use Income Building with Retail

      Downtown Pittsfield mixed-use building includes four residential units and one commercial unit with individual heat and electric.
      4 Depot Street, Pittsfield, NH 03263
      View Details
    • $479,900
      6,769 SF

      5-Unit Multifamily Building

      Well-maintained 5-unit property with updated interiors and additional space for possible residential conversion.
      2 Depot Street, Pittsfield, NH 03263
      View Details
    • $539,000
      3,800 SF

      Fully Occupied Multifamily Investment Property

      Five-unit multifamily property with stable occupancy and convenient location.
      22 Concord Hill Road, Pittsfield, NH 03263
      View Details
    • $999,000

      Pittsfield Mixed-Use Commercial Opportunity

      4-acre parcel with mixed-use property and development potential.
      79 High Street, Pittsfield, NH 03263
      View Details
    • $425,000
      2,162 SF

      Well-Maintained Multi-Family Property

      A well-maintained multi-family asset with practical unit layouts and convenient central access in Pittsfield.
      14 Chestnut Street, Pittsfield, NH 03263
      View Details
    • $539,000

      Multifamily Investment Opportunity in Pittsfield

      Fully occupied 5-unit multifamily property with stable income and river views.
      22 Concord Hill Road, Pittsfield, NH 03263
      View Details
    • $1,125,000
      7,193 SF

      Pittsfield Office Building For Sale

      Exceptional property suitable for various uses in Pittsfield, NH.
      16 Concord Hill Rd, Pittsfield, NH
      View Details
    • $750,000

      Downtown Pittsfield Income Property

      Mixed-use property with residential and commercial units in Pittsfield.
      4 Depot St, Pittsfield, NH 03263
      View Details
    • $2,715,000
      28,047 SF

      Industrial Building for Sale/Lease

      28,047± SF industrial building suitable for warehouse or manufacturing.
      31 Barnstead Rd, Pittsfield, NH
      View Details

    FAQs

    What type of property is this?
    Apartment building - Packaged multifamily portfolio with a renovated 5-unit building and a large mixed-use structure, plus development parking potential.
    Where is this apartment building located?
    The property is located at 2 Depot & 27 Carroll Street 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: Package of 4 separate lots with approximately 20,000 SF between two large buildings, with potential for 27+ units.; 5‑unit building with 6,769 SF of finished space; cap rate exceeding 13.5% and strong long‑term tenants already in place.; Vacant parcel can accommodate approximately 30 parking spaces, with potential for future development opportunities.
    (603) 431-1111
    We can help!
    Listing Contact
    Andy Yau
    Andy Yau
    Real Estate License ID: 074320
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2 Depot & 27 Carroll Street, Pittsfield, NH 03263
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!