Commercially Zoned
New
For Sale
$465,000
27 S State Street, Concord, NH 03301
Two-level property with salon and retail use below, residential living space above, and off-street parking.
Property Size2,136 SF
Price / SF$217.70
Days on Market5
Property Features for 27 S State Street
General Information
Standard status
Active
Size
2,136 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Zoning
commercial zoning
Additional Details
Highway Access
Yes
Building Details
Year Built
1890
Listing Agency:
Keller Williams Realty Metro-Concord
(603) 232-8282
Listed By:
Kris Labrake · License #5006
Source:
Welcomeaboderealty
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 25 at 5:00AM
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 Keller Williams Realty Metro-Concord
Investment Insights
Based on property information with market context.
Built in 1890, this two-family property combines commercial and residential functionality within a two-level layout. The first floor is currently configured for salon and retail operations, while the second floor provides living quarters. Commercial zoning supports the property’s existing mixed-use format. Major building updates include a new roof, new windows, and a new heating and hot water system. Off-street parking accommodates up to four vehicles, and a small brick garage adds parking or storage capacity.
The property is located one block from Concord’s Main Street and five minutes from Interstate 93. The setting provides access to downtown dining, entertainment, shopping, and employment, with Manchester, Manchester-Boston Regional Airport, the Lakes Region, and Boston approximately one hour away. The address has a 97 Walk Score and a 49 bike score.
The property is located one block from Concord’s Main Street and five minutes from Interstate 93. The setting provides access to downtown dining, entertainment, shopping, and employment, with Manchester, Manchester-Boston Regional Airport, the Lakes Region, and Boston approximately one hour away. The address has a 97 Walk Score and a 49 bike score.
Key Highlights
- Duplex with commercial zoning and two‑level mixed‑use configuration
- First floor currently used as a salon and retail space; living quarters occupy the second floor
- New roof, windows, and heating/hot water system
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
$30,682
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
6.60%
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%
$613,640
$613.6K
Cap Rate 7%
$438,314
$438.3K
Cap Rate 9%
$340,911
$340.9K
Market Conditions
NOI Build-Up for 2,136 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
$46.1K $21.60/SF
− Vacancy
−$2.3K −$1.08/SF
EGI
$43.8K $20.52/SF
− OpEx
−$13.1K −$6.16/SF
NOI
$30.7K $14.36/SF
Area
Merrimack County, NH
Vacancy
5.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$613,640
Cap Rate 7%
$438,314
Cap Rate 9%
$340,911
Alternative Uses
Best Use
Multifamily LT 5
$438.3K
$383.5K – $511.4K
NOI $30,682 @ 7.0% cap · market cap 6.60%
Second Best
Apartment 5plus
$403.9K
$353.4K – $471.2K
NOI $28,273 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$556.2K
$486.7K – $648.9K
NOI $38,932 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,505
Businesses Nearby
Explore this area
Business Placement
Demographics for 03301, NH
33,352
Population
14,486
Households
2.3
Avg Household Size
43
Median Age
42%
College-Educated
92%
High-School Grad
49.2 sq mi
ZIP Area
678
Density / Sq Mi
$85,943
Median Household Income
$49,749
Median Earnings
$1,355
Median Rent
$344,300
Median Home Value
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?
Duplex - Two-level property with salon and retail use below, residential living space above, and off-street parking.
Where is this duplex located?
The property is located at 27 S State Street Concord, NH.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Duplex with commercial zoning and two‑level mixed‑use configuration; First floor currently used as a salon and retail space; living quarters occupy the second floor; New roof, windows, and heating/hot water system
