Commercially Zoned
New
For Sale
$465,000
27 S State Street, Concord, NH 03301
Multi-Family, Concord, NH
Property Size2,136 SF
Lot Size0.06 Acres
Price / SF$217.70
Days on Market2
Property Features for 27 S State Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
CU
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 1, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 1
Parking features
Driveway, Off Street
Patio and Porch features
Porch
Exterior features
Covered Porch
Appliances
Natural Gas Water Heater, On Demand Water Heater
Lot features
City Lot, Sidewalks, Near Shopping, Near Public Transport, Near Hospital, Near School(s)
High school
Concord High School
Elementary school district
Concord School District SAU #8
Middle school district
Concord School District SAU #8
High school district
Concord School District SAU #8
Standard status
Active
Size
2,136 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2022
Tax Annual Amount
5962
Utilities
Heating system
Hot Water(Heating), Baseboard, Natural Gas
Water source
Public
Building Details
Year built
1890
Floors in Building
2
Number of units
2
Flooring type
Carpet, Vinyl
Building materials
Clapboard Exterior
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty Metro-Concord
(603) 226-2220
Listed By:
Kris LaBrake
(603) 232-8282
Added: Aug 23
Last Checked: Aug 24 at 4:06AM
MLS# 5106324
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.
Investment Insights
Based on property information with market context.
This 2,136-square-foot two-family property combines commercial and residential functionality within a 0.06-acre parcel. The first floor is currently configured for salon and retail use, while the second floor contains living quarters. A covered porch, clapboard exterior, shingle roof, basement, driveway, and off-street parking are included. The property is served by public water and natural gas heating, with baseboard and hot-water systems. Major building updates include a new roof, new windows, and a new heating and hot-water system.
Located at 27 S State Street, the property is one block from Concord’s Main Street and approximately five minutes from Interstate 93. The surrounding downtown setting provides access to dining, entertainment, shopping, employment, and other city activities. Parking accommodates up to four vehicles, and a small brick garage provides additional parking or storage. Zoning is CU, and the building dates to 1890.
Located at 27 S State Street, the property is one block from Concord’s Main Street and approximately five minutes from Interstate 93. The surrounding downtown setting provides access to dining, entertainment, shopping, employment, and other city activities. Parking accommodates up to four vehicles, and a small brick garage provides additional parking or storage. Zoning is CU, and the building dates to 1890.
Key Highlights
- 2,136‑square‑foot two‑family property on a 0.06‑acre parcel
- CU zoning supports the property's commercial and residential configuration
- First floor currently used for salon and retail space; living quarters occupy the second floor
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family property with retail-oriented space below and residential quarters above, supported by 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: 2,136‑square‑foot two‑family property on a 0.06‑acre parcel; CU zoning supports the property's commercial and residential configuration; First floor currently used for salon and retail space; living quarters occupy the second floor
