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    Highway Commercial Retail & Office Title is generated by Realmo AI

    234 White Mountain Highway, Conway, NH 03818

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    COMMERCIAL - Conway, NH

    Lot size:
    4.50 Acres
    Added:
    Aug 6, 2025
    Days on Market:
    303
    Last Refresh:
    Jun 4 at 6:06 am

    Property Features for 234 White Mountain Highway

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    Highway Commercial
    Standard status
    Active
    Lot size
    4.50 Acres

    Utilities

    Utilities
    Phone Available
    Water source
    Public

    Building Details

    Year built
    1985
    Roof type
    Membrane

    We can help!

    Listing Contact
    Greydon Turner
    Greydon Turner

    Listing agent Greydon Turner

    Listing office Pinkham Real Estate 2558 White Mountain Highway, North Conway, NH

    Listing date Aug 6, 2025

    MLS# 5055210

    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

    • Built in 1985 with membrane roof
    • Public water service; phone available
    • Traffic counts of roughly 12,000 vehicles per day at the street
    • Positioned in a high‑traffic area with parking on site
    • Currently has anchor tenants including a casino and a state run liquor store, plus a hair salon, paint store, and cannabis store
    • Suitable for office or retail uses; showings by appointment with long‑term tenant preference

    Overview

    This for-lease highway commercial property at 234 White Mountain Highway offers a commercial setting designed for retail or office users, with an established tenant mix on-site. The listing notes strong anchor tenants, including a casino and a state run liquor store, complemented by a hair salon, paint store, and cannabis store. The property is situated on a 4.5-acre lot and is presented as a long-term tenancy opportunity.

    The location is described as high-traffic, with approximately 12,000 vehicles per day reported at the street. Visibility is a key factor, supported by the property’s parking availability and its highway commercial positioning. Showings are available by appointment.

    Ideal tenants for this space are those seeking a retail-forward or office-oriented environment surrounded by active consumer and service uses. With ample parking and existing anchors on-site, the property may fit a range of office or retail concepts that value steady day-to-day customer presence and straightforward commercial access in a busy corridor.
    Property Profile Location Intelligence

    Current Use by Public Records

    Casinos

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Conway
    County
    Carroll
    State
    New Hampshire
    Longitude
    -71.11280645
    Latitude
    43.98561524

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    FAQs

    What type of property is this?
    Casino - High-traffic highway commercial building with ample parking and established anchors including a casino and liquor store.
    Where is this casino located?
    The property is located at 234 White Mountain Highway Conway, NH.
    What are key features of this property?
    This property features: Built in 1985 with membrane roof; Public water service; phone available; Traffic counts of roughly 12,000 vehicles per day at the street
    (603) 356-5425
    We can help!
    Listing Contact
    Greydon Turner
    Greydon Turner
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    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.

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