Restaurant with Owner’s
New
For Sale
$1,475,000
3002 White Mountain Highway, Conway, NH 03860
Several dining rooms, an equipped commercial kitchen, and an outdoor deck are part of the operation.
Property Size6,113 SF
Price / SF$241.29
Days on Market1
Property Features for 3002 White Mountain Highway
General Information
Standard status
Active
Size
6,113 SF
Property subtype
Commercial
Zoning
Highway Commercial
Building Details
Year Built
1926
Listing Agency:
KW Coastal and Lakes & Mountains Realty/Dover
(603) 610-8560
Listed By:
Gerry OConnell
(603) 610-8950
Source:
Churchillprop
Added: Sep 30
Last Checked: Sep 30 at 2:50PM
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 KW Coastal and Lakes & Mountains Realty/Dover
Investment Insights
Based on property information with market context.
This 6,113-square-foot restaurant and bar occupies a property with 1.62 acres. The building dates to 1926 and includes several dining rooms, a commercial kitchen, and owner’s living quarters on the second and third floors, with a private deck. An outdoor dining deck faces mountain views, while vegetable and herb gardens supply ingredients for the menu. An adjacent barn is also on the property and requires work.
The property is at 3002 White Mountain Highway in Conway, just beyond North Conway Village. Its zoning is Highway Commercial.
The property is at 3002 White Mountain Highway in Conway, just beyond North Conway Village. Its zoning is Highway Commercial.
Key Highlights
- Restaurant and bar on 1.62 acres
- 6,113‑square‑foot building constructed in 1926
- Owner’s quarters span the second and third floors and include 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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Several dining rooms, an equipped commercial kitchen, and an outdoor deck are part of the operation.
Where is this conventional restaurant located?
The property is located at 3002 White Mountain Highway 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: Restaurant and bar on 1.62 acres; 6,113‑square‑foot building constructed in 1926; Owner’s quarters span the second and third floors and include a private deck
