Duplex with Two-Bay
For Sale
$749,000
21-23 North Groton Street, Nashua, NH 03060
Fully rented duplex with separate utilities, fenced outdoor space, and multiple private outdoor areas.
Property Size2,408 SF
Price / SF$311.05
Days on Market118
Property Features for 21-23 North Groton Street
General Information
Standard status
Active
Size
2,408 SF
Property subtype
Multi Family
Zoning
RB
Taxes and HOA fees
Annual Taxes
$9,021
Amenities
Curbside
Mini Split
Natural Gas, Hot Air, Hot Water, Mini Split, Boiler
Yes
Hardwood
Gas Water Heater
2
Walk-up
Concrete Floor, Full, Unfinished
10
Architectural Shingle
Green
Wood Frame, Block Exterior
Building Details
Year Built
1920
Listing Agency:
BHHS Verani Concord
(888) 398-7062
Listed By:
Donald Goudreau
(888) 398-7062
Source:
Compass
Added: May 5
Changed: Aug 29
Last Checked: May 8 at 5:56AM
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 BHHS Verani Concord
Investment Insights
Based on property information with market context.
Built in 1920, this duplex includes two residential units, each configured with 3 bedrooms and 1 bathroom. The property is fully rented and includes a large two-bay block garage, a fully fenced yard, and separate utility systems for each unit. Outdoor features include a porch serving one unit and both a deck and porch serving the other.
The property is located in downtown Nashua at 21-23 North Groton St. It has a BikeScore of 53, classified as Bikeable, and a WalkScore of 58, classified as Somewhat Walkable.
The property is located in downtown Nashua at 21-23 North Groton St. It has a BikeScore of 53, classified as Bikeable, and a WalkScore of 58, classified as Somewhat Walkable.
Key Highlights
- Two‑unit property with 3 bedrooms and 1 bathroom in each unit
- Large 2‑bay block garage included
- Separate utilities for each unit
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
$35,362
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
4.72%
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%
$707,240
$707.2K
Cap Rate 7%
$505,171
$505.2K
Cap Rate 9%
$392,911
$392.9K
Market Conditions
NOI Build-Up for 2,408 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
$53.5K $22.20/SF
− Vacancy
−$2.9K −$1.22/SF
EGI
$50.5K $20.98/SF
− OpEx
−$15.2K −$6.29/SF
NOI
$35.4K $14.69/SF
Area
Hillsborough County, NH
Vacancy
5.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$707,240
Cap Rate 7%
$505,171
Cap Rate 9%
$392,911
Alternative Uses
Best Use
Multifamily LT 5
$505.2K
$442.0K – $589.4K
NOI $35,362 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$468.0K
$409.5K – $546.1K
NOI $32,763 @ 7.0% cap · market cap 4.37%
Theoretical Best
Specialty Retail
$4.41M
$3.86M – $5.15M
NOI $308,826 @ 7.0% cap · market cap 41.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,444
Businesses Nearby
Explore this area
Business Placement
Demographics for 03060, NH
31,251
Population
13,003
Households
2.4
Avg Household Size
37
Median Age
31%
College-Educated
88%
High-School Grad
6.6 sq mi
ZIP Area
4,735
Density / Sq Mi
$78,068
Median Household Income
$44,628
Median Earnings
$1,539
Median Rent
$338,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Fully rented duplex with separate utilities, fenced outdoor space, and multiple private outdoor areas.
Where is this duplex located?
The property is located at 21-23 North Groton Street Nashua, NH.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Two‑unit property with 3 bedrooms and 1 bathroom in each unit; Large 2‑bay block garage included; Separate utilities for each unit
