32 Mill Street, Rochester, NH 03867
Quadplex on a large lot with direct Salmon River access, offering spacious apartment layouts and separate utilities.
- Added:
- Apr 13, 2025
- Days on Market:
- 424
- Last Refresh:
- Jun 8 at 1:34 am
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 agent Andy Yau (603) 548-5315
Listing office RE/MAX Shoreline
Listing date Apr 13, 2025
Source Burkelordrealestate
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
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
- Upgrades in other units include updated luxury vinyl flooring, detailed wood trim, and modern kitchen/backsplash finishes
- Additional attic space for storage or possible expansion
- Separate utilities and large units may support low expenses; potential to subdivide a separate waterfront multifamily parcel
Overview
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.
Local 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 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Rochester
- County
- Strafford
- State
- New Hampshire
- Longitude
- -70.9377629
- Latitude
- 43.3365534
