Gutted Mixed-Use
For Sale
$375,000
25 High Street, Somersworth, NH 03878
Fully gutted mixed-use building with proposed space for multiple residential units plus ground-level retail/commercial.
Property Size3,640 SF
Price / SF$103.02
Days on Market807
Property Features for 25 High Street
General Information
Standard status
Active
Size
3,640 SF
Property subtype
Commercial
Zoning
BH
Building Details
Year Built
1874
Listing Agency:
Herion Karbunara
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 21, 2024
Changed: Sep 4
Last Checked: Sep 5 at 4:15AM
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 Herion Karbunara
Investment Insights
Based on property information with market context.
This fully gutted downtown building is ready for redevelopment, with the structure cleared and prepared for a new build-out. Proposed plans call for four residential units along with one ground-level retail or commercial space. The concept also includes the future addition of three townhouse-style units behind the main building.
The property sits on a large in-town lot and includes off-street parking, providing practical site access for occupants and future tenants.
With demolition already avoided by the existing gutted condition, the redevelopment can proceed based on the established design plans or a new owner’s vision.
The property sits on a large in-town lot and includes off-street parking, providing practical site access for occupants and future tenants.
With demolition already avoided by the existing gutted condition, the redevelopment can proceed based on the established design plans or a new owner’s vision.
Key Highlights
- Fully gutted downtown mixed‑use building (Year built: 1874), ready for renovation/development
- Proposed plans include 4 residential units and 1 ground‑level retail/commercial space
- Future addition of 3 townhouse‑style units behind the main building
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
$34,079
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
9.09%
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%
$681,580
$681.6K
Cap Rate 7%
$486,843
$486.8K
Cap Rate 9%
$378,656
$378.7K
Market Conditions
NOI Build-Up for 3,640 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
$64.2K $17.64/SF
− Vacancy
−$2.2K −$0.62/SF
EGI
$62.0K $17.02/SF
− OpEx
−$27.9K −$7.66/SF
NOI
$34.1K $9.36/SF
Area
Strafford County, NH
Vacancy
3.50%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
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%
$681,580
Cap Rate 7%
$486,843
Cap Rate 9%
$378,656
Alternative Uses
Best Use
Retail
$630.3K
$551.5K – $735.4K
NOI $44,121 @ 7.0% cap · market cap 11.77%
Second Best
Apartment 5plus
$486.8K
$426.0K – $568.0K
NOI $34,079 @ 7.0% cap · market cap 9.09%
Theoretical Best
Office A
$973.8K
$852.1K – $1.14M
NOI $68,167 @ 7.0% cap · market cap 18.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
Explore this area
Business Placement
Demographics for 03878, NH
11,919
Population
5,722
Households
2.1
Avg Household Size
40
Median Age
29%
College-Educated
95%
High-School Grad
9.8 sq mi
ZIP Area
1,216
Density / Sq Mi
$79,691
Median Household Income
$47,638
Median Earnings
$1,410
Median Rent
$295,200
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?
Apartment building - Fully gutted mixed-use building with proposed space for multiple residential units plus ground-level retail/commercial.
Where is this apartment building located?
The property is located at 25 High Street Somersworth, NH.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Fully gutted downtown mixed‑use building (Year built: 1874), ready for renovation/development; Proposed plans include 4 residential units and 1 ground‑level retail/commercial space; Future addition of 3 townhouse‑style units behind the main building
