Multifamily Portfolio in Concord,
For Sale
$950,000
273-279 S Main Street, Concord, NH 03301
Well-maintained multifamily portfolio near downtown Concord and I-93.
Property Size4,686 SF
Price / SF$202.73
Days on Market147
Property Features for 273-279 S Main Street
General Information
Standard status
Active
Size
4,686 SF
Property subtype
Multi-family
Building Details
Year Built
1900
Listing Agency:
Tinkham Realty,Inc.
Listed By:
Nicholas Musto
(603) 432-7769
Source:
Elevatedboston
Added: Apr 11
Changed: Sep 3
Last Checked: Sep 2 at 7:55PM
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 Tinkham Realty,Inc.
Investment Insights
Based on property information with market context.
This multifamily portfolio in Concord, New Hampshire, features three residential structures: a Cape, a Ranch, and a classic New Englander. The property offers approximately 4,686 square feet of finished living space. It is well maintained with many updates throughout. The property includes private off-street parking and two paved driveways. A large two-story barn/garage provides ample storage space. The property is serviced by natural gas, public water, and sewer. Located close to I-93 and downtown Concord, residents have easy access to shops, dining, and professional services. The location has a walk score of 93, indicating it is a Walker's Paradise, and a bike score of 55, indicating it is Bikeable.
Key Highlights
- Multifamily portfolio with three distinct residential structures offering diverse rental opportunities.
- Prime location in the heart of Concord, NH, with an impressive Walk Score of 93 (Walker's Paradise).
- Convenient access to I‑93 and downtown Concord's amenities.
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
$62,025
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
6.53%
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%
$1,240,500
$1.2M
Cap Rate 7%
$886,071
$886.1K
Cap Rate 9%
$689,167
$689.2K
Market Conditions
NOI Build-Up for 4,686 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
$118.1K $25.20/SF
− Vacancy
−$5.3K −$1.13/SF
EGI
$112.8K $24.07/SF
− OpEx
−$50.7K −$10.83/SF
NOI
$62.0K $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%
$1,240,500
Cap Rate 7%
$886,071
Cap Rate 9%
$689,167
Alternative Uses
Best Use
Apartment 5plus
$886.1K
$775.3K – $1.03M
NOI $62,025 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,410 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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?
Multifamily property - Well-maintained multifamily portfolio near downtown Concord and I-93.
Where is this multifamily property 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: Multifamily portfolio with three distinct residential structures offering diverse rental opportunities.; Prime location in the heart of Concord, NH, with an impressive Walk Score of 93 (Walker's Paradise).; Convenient access to I‑93 and downtown Concord's amenities.
