Authentic Irish Bar &
For Sale
$1,475,000
3002 White Mountain Hwy, Conway, NH 03860
Turnkey Irish bar and restaurant with owner's quarters.
Property Size6,113 SF
Lot Size1.62 Acres
Days on Market164
Property Features for 3002 White Mountain Hwy
General Information
Standard status
Active
Size
6,113 SF
Lot size
1.62 Acres
Property subtype
Commercial
Building Details
Building Size
6,113 SF
Year Built
1926
Units
1
Listing Agency:
keller williams coastal realty
(603) 986-9288
Listed By:
Sharrene Henderson
(603) 986-9288
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 20 at 10:05AM
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 keller williams coastal realty
Investment Insights
Based on property information with market context.
May Kelly's Bar & Restaurant, an authentic Irish establishment, is available for purchase. The restaurant has garnered a strong reputation for its authentic Irish fare. The interior features an impressive collection of antique treasures and memorabilia. The property includes a large owner's quarters on the second and third floors, complete with a private deck. The turnkey operation is ready for immediate business. The restaurant offers several rooms suitable for private dining or small parties, providing both intimate and lively settings. An outdoor deck offers mountain views and overlooks vegetable and herb gardens, which supply ingredients for the restaurant's menu. An adjacent barn presents an opportunity for expansion, though it requires work. A large, well-equipped commercial kitchen is designed for efficient workflow. Situated just outside North Conway Village, the location is advantageous. The 1.62-acre property, zoned Highway Commercial, also presents a development opportunity.
Key Highlights
- Established, highly acclaimed authentic Irish Bar & Restaurant with a strong reputation and loyal customer base.
- Turnkey operation, fully equipped and ready for new ownership to continue successful business.
- Includes a large, well‑maintained owner's quarters with a private deck.
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
$77,574
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
5.26%
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%
$1,551,480
$1.6M
Cap Rate 7%
$1,108,200
$1.1M
Cap Rate 9%
$861,933
$861.9K
Market Conditions
NOI Build-Up for 6,113 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
$110.0K $18.00/SF
− Vacancy
−$6.6K −$1.08/SF
EGI
$103.4K $16.92/SF
− OpEx
−$25.9K −$4.23/SF
NOI
$77.6K $12.69/SF
Area
Carroll County, NH
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,551,480
Cap Rate 7%
$1,108,200
Cap Rate 9%
$861,933
Alternative Uses
Best Use
Specialty Retail
$1.11M
$969.7K – $1.29M
NOI $77,574 @ 7.0% cap · market cap 5.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $106,847 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
96
Businesses Nearby
26k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 64%
Dining 36%
Shaw's Supermarket
Groceries
16,463 visits/mo
0.4 miles
Aroma Joe's
Dining
9,171 visits/mo
0.4 miles
Demographics for 03860, NH
3,910
Population
3,169
Households
1.2
Avg Household Size
53
Median Age
40%
College-Educated
95%
High-School Grad
23.2 sq mi
ZIP Area
169
Density / Sq Mi
$81,771
Median Household Income
$45,915
Median Earnings
$1,094
Median Rent
$328,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Turnkey Irish bar and restaurant with owner's quarters.
Where is this bar & pub located?
The property is located at 3002 White Mountain Hwy Conway, NH.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Established, highly acclaimed authentic Irish Bar & Restaurant with a strong reputation and loyal customer base.; Turnkey operation, fully equipped and ready for new ownership to continue successful business.; Includes a large, well‑maintained owner's quarters with a private deck.
