Two-Level Restaurant
For Sale
$325,000
2015 Main Street, Bethlehem, NH 03574
Commercial Sale, Bethlehem, NH
Property Size1,900 SF
Price / SF$171.05
Days on Market74
Property Features for 2015 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
District 1
Rooms
Basement
Parking features
Paved or Surfaced, On Street
Subdivision
Cold Mountain Cafe
Directions
On Main Street (Route 302), Bethlehem across from the Colonial Theater
Standard status
Active
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1679
Utilities
Utilities
Propane
Heating system
Baseboard, Oil
Cooling system
Zoned, Ductless
Water source
Public
Building Details
Year built
1920
Building materials
Wood Frame, Wood Siding
Roof type
Membrane
Listing Agency:
Badger Peabody & Smith Realty
(603) 823-5700
Listed By:
Mary Doherty · License #053401
(603) 444-1294
Added: Jun 8
Changed: Aug 19
Last Checked: Aug 20 at 2:06AM
MLS# 5093392
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.
Investment Insights
Based on property information with market context.
This two-level condominium restaurant at 2015 Main Street includes approximately 1,900 SF of commercial space with a dining room, bar area, and basement. Seasonal outdoor seating extends along the sidewalk frontage, adding an exterior component during warmer months. The unit is located within a building shared by five other businesses and is zoned District 1.
The property sits in downtown Bethlehem, directly across from the historic Colonial Theater, with access supported by on-street and paved or surfaced parking. Building systems include oil-fired baseboard heat, ductless zoned cooling, propane service, public water, wood-frame construction with wood siding, and a membrane roof. The building dates to 1920.
The property sits in downtown Bethlehem, directly across from the historic Colonial Theater, with access supported by on-street and paved or surfaced parking. Building systems include oil-fired baseboard heat, ductless zoned cooling, propane service, public water, wood-frame construction with wood siding, and a membrane roof. The building dates to 1920.
Key Highlights
- Approximately 1,900+/- SF two‑level condominium restaurant
- Dining room and bar area within the restaurant layout
- Seasonal outdoor dining area along the sidewalk frontage
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
$28,379
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
8.73%
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%
$567,580
$567.6K
Cap Rate 7%
$405,414
$405.4K
Cap Rate 9%
$315,322
$315.3K
Market Conditions
NOI Build-Up for 1,900 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
$41.0K $21.60/SF
− Vacancy
−$3.2K −$1.68/SF
EGI
$37.8K $19.92/SF
− OpEx
−$9.5K −$4.98/SF
NOI
$28.4K $14.94/SF
Area
Grafton County, NH
Vacancy
7.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$567,580
Cap Rate 7%
$405,414
Cap Rate 9%
$315,322
Alternative Uses
Best Use
Specialty Retail
$405.4K
$354.7K – $473.0K
NOI $28,379 @ 7.0% cap · market cap 8.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$417.9K
$365.7K – $487.6K
NOI $29,256 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
130
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 03574, NH
2,514
Population
1,401
Households
1.8
Avg Household Size
48
Median Age
45%
College-Educated
96%
High-School Grad
91.0 sq mi
ZIP Area
28
Density / Sq Mi
$83,870
Median Household Income
$47,743
Median Earnings
$1,079
Median Rent
$268,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant condominium with dining, bar, and seasonal outdoor seating in downtown Bethlehem.
Where is this conventional restaurant located?
The property is located at 2015 Main Street Bethlehem, NH.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Approximately 1,900+/- SF two‑level condominium restaurant; Dining room and bar area within the restaurant layout; Seasonal outdoor dining area along the sidewalk frontage
