Fully Occupied Penacook
For Sale
$680,000
271 Village Street, Concord, NH 03303
Three-unit building in Penacook, ideal for investors or owner-occupants.
Property Size2,981 SF
Price / SF$228.11
Days on Market323
Property Features for 271 Village Street
General Information
Standard status
Active
Size
2,981 SF
Property subtype
Multi-family
Building Details
Year Built
1880
Listing Agency:
LM Investments
(603) 660-9199
Listed By:
Lucas Leo
Source:
Sugarbushrealestate
Added: Oct 6, 2025
Changed: Aug 23
Last Checked: Aug 24 at 6:01AM
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 LM Investments
Investment Insights
Based on property information with market context.
This fully occupied three-unit building is located in Penacook Village, offering an opportunity for immediate equity. The property features two 2-bedroom units and one 1-bedroom unit. Each tenant benefits from a private 3-season porch, in-unit laundry facilities, and off-street parking. Tenants are responsible for their own heat and electricity. The location provides convenient access to Downtown Concord and the new Exit 17 shopping district. Quick access to I-93 makes this location suitable for commuters. The property is located in a somewhat bikeable area with a bike score of 39, and a car-dependent area with a walk score of 25.
Key Highlights
- Fully occupied 3‑unit building provides immediate rental income and equity.
- Tenants pay their own heat and electricity, reducing owner expenses.
- Each unit has its own 3‑season porch and in‑unit laundry.
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
6.30%
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 6.30%
Second Best
Apartment 5plus
$563.7K
$493.2K – $657.6K
NOI $39,457 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$776.2K
$679.2K – $905.6K
NOI $54,333 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 - Three-unit building in Penacook, ideal for investors or owner-occupants.
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 $680,000.
What are key features of this property?
This property features: Fully occupied 3‑unit building provides immediate rental income and equity.; Tenants pay their own heat and electricity, reducing owner expenses.; Each unit has its own **3‑season porch and in‑unit laundry**.
