Three-Structure Apartment
For Sale
$950,000
273-279 S Main Street, Concord, NH 03301
Multi-Family, Concord, NH
Property Size5,010 SF
Lot Size0.33 Acres
Price / SF$189.62
Days on Market176
Property Features for 273-279 S Main Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
UT
Bedrooms
10
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 1, Bedroom 5, Bathroom 3, Bedroom 4, Bedroom 10, Bathroom 5, Bedroom 8, Bedroom 9, Bedroom 6, Bathroom 1, Bedroom 3, Basement, Bedroom 7, Bathroom 2, Bathroom 4, Bedroom 2
Parking features
Off Street
Lot features
Landscaped
Directions
Use GPS
Standard status
Active
Size
5,010 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
13961
Utilities
Utilities
Cable Available
Heating system
Steam, Forced Air, Oil, Natural Gas
Water source
Public
Amenities
private off-street parking
two-story barn/garage
Building Details
Year built
1900
Floors in Building
2
Number of units
5
Flooring type
Laminate, Hardwood
Building materials
Wood Frame, Asbestos Exterior, Clapboard Exterior, Vinyl Siding
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
Tinkham Realty Inc
(603) 432-7769
Listed By:
Nick Musto · License #067817
(603) 475-4907
Added: Mar 17
Changed: Sep 1
Last Checked: Sep 8 at 7:06PM
MLS# 5079588
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 apartment property includes three residential structures: a Cape, a Ranch, and a New Englander. The buildings contain approximately 4,686 square feet of finished living space within 5,010 square feet of total property size. The 0.33-acre site includes off-street parking, two paved driveways, and a large two-story barn/garage providing additional storage. Construction includes wood-frame components with clapboard and vinyl siding, while interior finishes include hardwood and laminate flooring. Heating systems include oil, steam, natural gas, and forced air.
The property is located at 273-279 S Main Street in Concord, NH, with access to public water and sewer and zoning identified as UT. The site is near I-93 and downtown Concord, where shops, dining, and professional services are located. Additional property features include shingle roofing, basement space, and cable availability.
The property is located at 273-279 S Main Street in Concord, NH, with access to public water and sewer and zoning identified as UT. The site is near I-93 and downtown Concord, where shops, dining, and professional services are located. Additional property features include shingle roofing, basement space, and cable availability.
Key Highlights
- Three residential structures: a Cape, a Ranch, and a New Englander
- Approximately 4,686 square feet of finished living space within 5,010 square feet total
- 0.33‑acre site with off‑street parking and 2 paved driveways
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
$66,314
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
6.98%
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%
$1,326,280
$1.3M
Cap Rate 7%
$947,343
$947.3K
Cap Rate 9%
$736,822
$736.8K
Market Conditions
NOI Build-Up for 5,010 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
$126.3K $25.20/SF
− Vacancy
−$5.7K −$1.13/SF
EGI
$120.6K $24.07/SF
− OpEx
−$54.3K −$10.83/SF
NOI
$66.3K $13.24/SF
Area
Merrimack County, NH
Vacancy
4.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$1,326,280
Cap Rate 7%
$947,343
Cap Rate 9%
$736,822
Alternative Uses
Best Use
Apartment 5plus
$947.3K
$828.9K – $1.11M
NOI $66,314 @ 7.0% cap · market cap 6.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,315 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
803
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?
Apartment building - Residential buildings with off-street parking, public utilities, and a large storage barn/garage.
Where is this apartment building located?
The property is located at 273-279 S Main Street Concord, NH.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Three residential structures: a Cape, a Ranch, and a New Englander; Approximately 4,686 square feet of finished living space within 5,010 square feet total; 0.33‑acre site with off‑street parking and 2 paved driveways
