5-Unit Apartment
New
For Sale
$599,990
24 Messer Street, Laconia, NH 03246
The property includes a detached four-bay garage and a walkout basement for storage.
Property Size3,393 SF
Lot Size0.34 Acres
Price / SF$176.83
Days on Market6
Property Features for 24 Messer Street
General Information
Standard status
Active
Size
3,393 SF
Total Parking Spaces
4
Lot size
0.34 Acres
Property subtype
Residential Income
Occupancy
100%
Net Operating Income
$54,973
Financials
Asking Price
$599,000
Cap Rate
9.2%
Units
Unit Mix
4 x 1BR, 1 x 3BR/2BA
Multifamily Units
5
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$5,971
Amenities
coin-op laundry
storage space
Building Details
Year Built
1890
Buildings
2
Listing Agency:
EXP Realty
Listed By:
Corina Cisneros
(603) 273-6160
Source:
Exprealty
Added: Oct 5
Changed: Oct 7
Last Checked: Oct 7 at 1:56PM
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 EXP Realty
Investment Insights
Based on property information with market context.
This 3,393-square-foot apartment property dates to 1890 and contains four one-bedroom apartments and one three-bedroom unit with two full baths and a bonus room. One of the one-bedroom units has a renovated kitchen and bath, along with refinished floors. The building has natural gas hot-water heat, town water and sewer, and a 1,956-square-foot unfinished walkout basement used for storage. A detached four-bay garage is also on the 0.34-acre in-town site.
The property is fully leased. Three one-bedroom apartments have month-to-month tenancies of at least six years. The three-bedroom unit was leased in September 2026. Tenants pay their own electric, and each apartment has a separate electric meter and panel. Coin-operated laundry provides additional income. Seller-provided operating figures indicate a 9.2% cap rate on in-place income.
The property is fully leased. Three one-bedroom apartments have month-to-month tenancies of at least six years. The three-bedroom unit was leased in September 2026. Tenants pay their own electric, and each apartment has a separate electric meter and panel. Coin-operated laundry provides additional income. Seller-provided operating figures indicate a 9.2% cap rate on in-place income.
Key Highlights
- Five apartments: four one‑bedroom units and one three‑bedroom unit with two full baths and a bonus room
- 3,393 square feet on a 0.34‑acre lot
- Detached four‑bay garage and 1,956‑square‑foot unfinished walkout basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,522
Cap Rate
7.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$910,440
$910.4K
Cap Rate 7%
$650,314
$650.3K
Cap Rate 9%
$505,800
$505.8K
Market Conditions
NOI Build-Up for 3,393 SF
Gross rent
$85.5K $25.20/SF
− Vacancy
−$2.7K −$0.81/SF
EGI
$82.8K $24.39/SF
− OpEx
−$37.2K −$10.98/SF
NOI
$45.5K $13.42/SF
Area
Belknap County, NH
Vacancy
3.20%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$910,440
Cap Rate 7%
$650,314
Cap Rate 9%
$505,800
Alternative Uses
Best Use
Apartment 5plus
$650.3K
$569.0K – $758.7K
NOI $45,522 @ 7.0% cap · market cap 7.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$806.9K
$706.0K – $941.4K
NOI $56,481 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
5
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,297
Businesses Nearby
Explore this area
Business Placement
Demographics for 03246, NH
16,905
Population
10,426
Households
1.6
Avg Household Size
47
Median Age
25%
College-Educated
93%
High-School Grad
19.9 sq mi
ZIP Area
849
Density / Sq Mi
$68,407
Median Household Income
$40,504
Median Earnings
$1,180
Median Rent
$307,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - The property includes a detached four-bay garage and a walkout basement for storage.
Where is this apartment building located?
The property is located at 24 Messer Street Laconia, NH.
What is the asking price?
The asking price for this property is $599,990.
What are key features of this property?
This property features: Five apartments: four one‑bedroom units and one three‑bedroom unit with two full baths and a bonus room; 3,393 square feet on a 0.34‑acre lot; Detached four‑bay garage and 1,956‑square‑foot unfinished walkout basement
