Three-Unit Residential Income
For Sale
$660,000
271 Village Street, Concord, NH 03303
Fully occupied 3-unit building with two 2-bedroom units and one 1-bedroom unit, each with in-unit laundry.
Property Size2,981 SF
Price / SF$221.40
Days on Market252
Property Features for 271 Village Street
General Information
Standard status
Active
Size
2,981 SF
Property subtype
Multi-Family
Zoning
cu
Occupancy
100%
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
3
Building Details
Year Built
1880
Stories
3
Tenancy
Multi
Listing Agency:
Austin Realty Group
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Dec 15, 2025
Changed: Aug 24
Last Checked: Aug 23 at 8:05AM
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 Austin Realty Group
Investment Insights
Based on property information with market context.
Located at 271 Village Street in the Penacook Village district of Concord, this fully occupied 3-unit residential income building offers two 2-bedroom units and one 1-bedroom unit. Each tenant has access to a private 3-season porch, with in-unit laundry and off-street parking included.
The property is positioned in the heart of Penacook Village, with convenient access to the energy of Downtown Concord and the shopping options associated with the Exit 17 area. Quick I-93 access is also noted for commuters.
Operationally, tenants pay their own heat and electricity, and the building is described as having major expenses already handled, supporting a cash-flow focused ownership experience from day one.
The property is positioned in the heart of Penacook Village, with convenient access to the energy of Downtown Concord and the shopping options associated with the Exit 17 area. Quick I-93 access is also noted for commuters.
Operationally, tenants pay their own heat and electricity, and the building is described as having major expenses already handled, supporting a cash-flow focused ownership experience from day one.
Key Highlights
- Fully occupied 3‑unit building (year built 1880) with two 2‑bedroom units and one 1‑bedroom unit
- Each unit has in‑unit laundry and a 3‑season porch
- Off‑street parking for tenants
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
$42,819
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
6.49%
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%
$856,380
$856.4K
Cap Rate 7%
$611,700
$611.7K
Cap Rate 9%
$475,767
$475.8K
Market Conditions
NOI Build-Up for 2,981 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
$64.4K $21.60/SF
− Vacancy
−$3.2K −$1.08/SF
EGI
$61.2K $20.52/SF
− OpEx
−$18.4K −$6.16/SF
NOI
$42.8K $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%
$856,380
Cap Rate 7%
$611,700
Cap Rate 9%
$475,767
Alternative Uses
Best Use
Multifamily LT 5
$611.7K
$535.2K – $713.7K
NOI $42,819 @ 7.0% cap · market cap 6.49%
Second Best
Apartment 5plus
$563.7K
$493.2K – $657.6K
NOI $39,457 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$776.2K
$679.2K – $905.6K
NOI $54,333 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Explore this area
Business Placement
Demographics for 03303, NH
16,516
Population
6,907
Households
2.4
Avg Household Size
43
Median Age
31%
College-Educated
94%
High-School Grad
67.8 sq mi
ZIP Area
244
Density / Sq Mi
$79,688
Median Household Income
$49,648
Median Earnings
$1,363
Median Rent
$274,100
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?
Triplex - Fully occupied 3-unit building with two 2-bedroom units and one 1-bedroom unit, each with in-unit laundry.
Where is this triplex located?
The property is located at 271 Village Street Concord, NH.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: Fully occupied 3‑unit building (year built 1880) with two 2‑bedroom units and one 1‑bedroom unit; Each unit has in‑unit laundry and a 3‑season porch; Off‑street parking for tenants
