Waterfront Quadplex with River
32 Mill Street Rochester, NH 03867
For Sale
$899,000
Quadplex on a large lot with direct Salmon River access, offering spacious apartment layouts and separate utilities.
Property Size4,528 SF
Lot Size1.62 Acres
Price / SF$198.54
Days on Market477
Property Features for 32 Mill Street
General Information
- Standard status
- Active
- Size
- 4,528 SF
- Lot size
- 1.62 Acres
- Property subtype
- Multi-family
Building Details
- Year Built
- 1882
Listing Agency:
RE/MAX Shoreline
Listed By:
Andy Yau
(603) 548-5315
Source:
Burkelordrealestate
Added: Apr 5, 2025
Changed: Jul 6
Last Checked: Jul 24 at 11:32PM
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 RE/MAX Shoreline
Investment Insights
Based on property information with market context.
This waterfront quadplex offers substantial residential space with apartment layouts that emphasize comfortable living and dining areas, large kitchens, and multiple bedrooms. Several units feature upgraded finishes, including hardwood floors, detailed wood trim, updated flooring, and modern kitchen details. Additional attic space provides practical storage and potential room for further use. The property is served by separate utilities and includes an open backyard, a two-car garage, and ample parking.
Set on a large lot in East Rochester, the buildings provide direct access to the Salmon River from the property. The setting supports outdoor use from home, including activities such as canoeing and fishing. The area is also convenient to regional employers and amenities, with downtown Rochester about 1.5 miles away and Route 16 roughly 3 miles from the property.
For tenants and operators, the combination of spacious unit designs, separate utilities, and meaningful outdoor access can support a strong day-to-day living experience. The large site also presents an opportunity to consider additional development, with remarks indicating zoning density may allow further units at the rear with a special exception. This is a well-established income property offered for the first time in more than 45 years.
Set on a large lot in East Rochester, the buildings provide direct access to the Salmon River from the property. The setting supports outdoor use from home, including activities such as canoeing and fishing. The area is also convenient to regional employers and amenities, with downtown Rochester about 1.5 miles away and Route 16 roughly 3 miles from the property.
For tenants and operators, the combination of spacious unit designs, separate utilities, and meaningful outdoor access can support a strong day-to-day living experience. The large site also presents an opportunity to consider additional development, with remarks indicating zoning density may allow further units at the rear with a special exception. This is a well-established income property offered for the first time in more than 45 years.
Key Highlights
- Waterfront quadplex on 1.62‑acre lot in East Rochester with direct access to the Salmon River
- Year built 1882; buildings total 4,500+ SF of living space with spacious living/dining rooms and large kitchens
- Largest unit features hardwood floors, chamber ceilings, and crown molding
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $67.9k | $15.00 |
| − Vacancy | −$2.3k | −$0.50 |
| EGI | $65.7k | $14.50 |
| − OpEx | −$19.7k | −$4.35 |
| NOI | $46.0k | $10.15 |
4,528 SF · lease $15.00/SF/yr · vacancy 3.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$656.7K
$574.6K – $766.1K
NOI $45,966 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$605.6K
$529.9K – $706.6K
NOI $42,393 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,797 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Quadplex on a large lot with direct Salmon River access, offering spacious apartment layouts and separate utilities.
Where is this quadplex located?
The property is located at 32 Mill Street Rochester, NH.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Waterfront quadplex on 1.62‑acre lot in East Rochester with direct access to the Salmon River; Year built 1882; buildings total 4,500+ SF of living space with spacious living/dining rooms and large kitchens; Largest unit features hardwood floors, chamber ceilings, and crown molding
