9-Unit Studio Apartment
For Sale
$875,000
Pending
22 Railroad Ave, Merrimack, NH 03054
Off-street parking accompanies a newer roof, heating system, and hot water tank.
Property Size2,898 SF
Days on Market59
Property Features for 22 Railroad Ave
General Information
Standard status
Pending
Size
2,898 SF
Property subtype
Multi-Family
Units
Unit Mix
9 x studio
Multifamily Units
9
Building Details
Year Built
1900
Listing Agency:
Aaron Woods Of Badger Peabody & Smith Realty/Plymouth
Listed By:
Chadd Dempsey Real Estate Experts
(603) 472-1010
Source:
Dempseyteam
Added: Aug 23
Changed: Oct 19
Last Checked: Oct 19 at 7:09AM
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 Aaron Woods Of Badger Peabody & Smith Realty/Plymouth
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Investment Insights
Based on property information with market context.
This 2,898-square-foot apartment building contains 9 studio units and was constructed in 1900. The property has been maintained with a newer roof, heating system, and hot water tank, along with off-street parking for residents.
Located at 22 Railroad Ave in Merrimack, the building sits at the end of a cul-de-sac and is near shopping, stores, restaurants, and other everyday amenities. The combination of studio-unit configuration, updated major systems, and established residential improvements provides a clearly defined multifamily asset for sale.
Located at 22 Railroad Ave in Merrimack, the building sits at the end of a cul-de-sac and is near shopping, stores, restaurants, and other everyday amenities. The combination of studio-unit configuration, updated major systems, and established residential improvements provides a clearly defined multifamily asset for sale.
Key Highlights
- 9 studio units in a 2,898‑square‑foot apartment building
- Newer roof, heating system, and hot water tank
- Off‑street parking included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,430
Cap Rate
4.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$788,600
$788.6K
Cap Rate 7%
$563,286
$563.3K
Cap Rate 9%
$438,111
$438.1K
Market Conditions
NOI Build-Up for 2,898 SF
Gross rent
$75.5K $26.04/SF
− Vacancy
−$3.8K −$1.30/SF
EGI
$71.7K $24.74/SF
− OpEx
−$32.3K −$11.13/SF
NOI
$39.4K $13.61/SF
Area
Hillsborough County, NH
Vacancy
5.00%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$788,600
Cap Rate 7%
$563,286
Cap Rate 9%
$438,111
Alternative Uses
Best Use
Apartment 5plus
$563.3K
$492.9K – $657.2K
NOI $39,430 @ 7.0% cap · market cap 4.51%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.31M
$4.65M – $6.19M
NOI $371,669 @ 7.0% cap · market cap 42.48%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
405
Businesses Nearby
Explore this area
Business Placement
Demographics for 03054, NH
26,622
Population
10,581
Households
2.5
Avg Household Size
43
Median Age
49%
College-Educated
96%
High-School Grad
32.6 sq mi
ZIP Area
817
Density / Sq Mi
$128,897
Median Household Income
$65,604
Median Earnings
$1,819
Median Rent
$406,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Off-street parking accompanies a newer roof, heating system, and hot water tank.
Where is this apartment building located?
The property is located at 22 Railroad Ave Merrimack, NH.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 9 studio units in a 2,898‑square‑foot apartment building; Newer roof, heating system, and hot water tank; Off‑street parking included
