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    Gutted Mixed-Use Downtown Building Title is generated by Realmo AI

    25 High Street, Somersworth, NH 03878

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    For Sale
    $400,000

    MULTI_FAMILY - Other - Somersworth, NH

    Property size:
    3,640 SF
    Lot size:
    0.29 Acres
    Price / SF:
    $109/SF
    Added:
    Jul 30, 2024
    Days on Market:
    676
    Last Refresh:
    Jun 5 at 11:06 am

    Property Features for 25 High Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    BH
    Standard status
    Active
    Size
    3,640 SF
    Lot size
    0.29 Acres

    Taxes and HOA fees

    Tax Year
    2022
    Tax Annual Amount
    6376

    Utilities

    Utilities
    Cable Available
    Heating system
    Natural Gas
    Water source
    Public

    Building Details

    Year built
    1874
    Floors in Building
    2
    Number of units
    5
    Building materials
    Clapboard Exterior
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Darlene Colwell-Ellis

    Listing agent Darlene Colwell-Ellis

    Listing office KW Coastal and Lakes & Mountains Realty/Dover 10 Fourth Street, Portsmouth, NH

    Listing date Jul 30, 2024

    MLS# 5007344 Listing URL

    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

    • Year built 1874 downtown building with clapboard exterior
    • Completely gutted structure ready for redevelopment
    • Proposed layout: 4 residential units plus 1 ground‑level retail/commercial space
    • Proposed future addition of 3 townhouse‑style units behind the main building
    • Large in‑town lot with off‑street parking
    • Utilities and services include public water, natural gas heating, shingle roof, and cable available

    Overview

    This downtown building has been gutted and is ready for a full interior transformation. The property includes a current structure on a lot sized at 0.29 acres, and the proposed concept calls for 4 residential units along with a ground-level retail or commercial space. The planning also anticipates a future addition of 3 townhouse-style units positioned behind the main building. With the building already gutted, the site is set up to proceed without the cost or timing impacts associated with demolition.

    Located at 25 High Street in Somersworth, New Hampshire, the property sits on an in-town lot and includes off-street parking, an important practical feature for a mixed-use redevelopment. The listing is provided under zoning BH.

    For owners, developers, and investors looking for a redevelopment where work can be shaped around the current proposed plans, this configuration supports a mixed-use end product with both residential and ground-floor commercial space. The existing structure and cleared interior also offer a straightforward starting point for a buyer bringing their own design approach, including the potential for expanding to townhouse-style units behind the main building.
    Property Profile Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Somersworth
    County
    Strafford
    State
    New Hampshire
    Longitude
    -70.864719
    Latitude
    43.263003

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    FAQs

    What type of property is this?
    Apartment building - Gutted downtown building with proposed plans for residential units plus ground-level retail and off-street parking.
    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 $400,000.
    What are key features of this property?
    This property features: Year built 1874 downtown building with clapboard exterior; Completely gutted structure ready for redevelopment; Proposed layout: 4 residential units plus 1 ground‑level retail/commercial space
    (603) 610-8500
    We can help!
    Listing Contact
    Darlene Colwell-Ellis
    Request Owner's contact information
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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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