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 Market852
Property Features for 25 High Street
General Information
Standard status
Active
Size
3,640 SF
Property subtype
Commercial
Zoning
BH
Taxes and HOA fees
Annual Taxes
$6,376
Building Details
Year Built
1874
Listing Agency:
KW Coastal and Lakes & Mountains Realty/Dover
(603) 610-8560
Listed By:
Darlene Colwell-Ellis · License #042783
(603) 610-8988
Source:
Churchillprop
Added: Jun 21, 2024
Changed: Oct 10
Last Checked: Oct 20 at 6:44PM
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
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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 / Yr
$34,079
Cap Rate
9.09%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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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 - 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
