Gutted Mixed-Use
25 High Street Somersworth, NH 03878
25 High Street, Somersworth, NH, 03878
$375,000
For Sale
$375,000
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 Market742
Property Features for 25 High Street
General Information
- Standard status
- Active
- Size
- 3,640 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1874
Listing agency
KW Coastal and Lakes & Mountains Realty/Dover
(603) 610-8988
Listed by
Darlene Colwell-Ellis · License #042783
Source
Aultcommercial
Added: Jul 11, 2024 Updated: Jul 21 at 1:05PM Checked: Jul 21 at 1:05PM
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 KW Coastal and Lakes & Mountains Realty/Dover
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
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.2k | $17.64 |
| − Vacancy | −$2.2k | −$0.62 |
| EGI | $62.0k | $17.02 |
| − OpEx | −$27.9k | −$7.66 |
| NOI | $34.1k | $9.36 |
3,640 SF · lease $17.64/SF/yr · vacancy 3.50% · expense 45.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
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FAQs
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
