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    Waterfront Quadplex with River Access Title is generated by Realmo AI

    32 Mill Street, Rochester, NH 03867

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    Claim this Listing
    For Sale
    $899,000

    MULTI_FAMILY - Other - Rochester, NH

    Property size:
    4,528 SF
    Lot size:
    1.62 Acres
    Price / SF:
    $198/SF
    Added:
    Apr 14, 2025
    Days on Market:
    426
    Last Refresh:
    Jun 13 at 3:06 am

    Property Features for 32 Mill Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R2
    Bedrooms
    8
    Bathrooms
    6
    Rooms
    Bathroom 1, Bedroom 3, Bathroom 2, Bathroom 6, Basement, Bathroom 4, Bedroom 7, Bedroom 8, Bathroom 3, Bedroom 2, Bedroom 1, Bedroom 5, Bedroom 4, Bedroom 6, Bathroom 5
    Standard status
    Active
    Size
    4,528 SF
    Lot size
    1.62 Acres

    Utilities

    Heating system
    Steam, Natural Gas
    Water source
    Public

    Building Details

    Year built
    1882
    Floors in Building
    3
    Number of units
    4
    Building materials
    Wood Frame, Vinyl Exterior
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Andy Yau
    Andy Yau

    Listing agent Andy Yau License #074320

    Listing office RE/MAX Shoreline 875 Greenland Rd., Portsmouth, NH

    Listing date Apr 14, 2025

    MLS# 5036194 Listing URL

    Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Waterfront quadplex on a large 1.62‑acre lot in East Rochester with direct access to the Salmon River
    • Wood‑frame property with vinyl exterior; roof is shingle; built in 1882
    • 4500+ sq ft total living space across 4 units
    • Public water supply; heating includes steam and natural gas
    • Additional attic space for storage or expansion opportunities
    • Zoning density may allow additional units at the back with a special exception

    Overview

    This waterfront quadplex offers substantial living space across its four units, totaling 4,500+ square feet, set on a 1.62-acre lot in East Rochester. The buildings are described as having spacious living/dining rooms, large kitchens, and multiple bedrooms, with separate utilities supporting the operation of the individual units. Additional attic space is available for storage or potential expansion. The largest unit is noted for hardwood floors, chamber ceilings, and crown molding. Other units include enhanced interior finishes such as updated luxury vinyl flooring, detailed wood trim, a modern kitchen backsplash, an open kitchen layout, and stylish brick backsplash.

    The property includes direct access to the Salmon River, providing a private setting for canoeing and fishing from the doorsteps. Outside, residents can enjoy an open backyard, plus a 2-car garage and plenty of parking. Zoning is R2, and the remarks note the possibility of subdividing a separate waterfront multifamily parcel. The density may also allow additional units to be built out back with a special exception. Convenience is a theme here as well, with the home approximately 1.5 miles to downtown Rochester, 3 miles to Route 16, and about 20 miles to Portsmouth.

    For tenants or buyers looking for larger, well-appointed apartment layouts, this configuration is designed to support comfort and day-to-day livability, including storage flexibility via attic space. The combination of river access, outdoor space, and separate utilities may appeal to operators seeking a straightforward income property with practical on-site amenities, while the R2 zoning and noted subdivision/build-out opportunities can be considered for future planning, subject to approvals.

    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
    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 (±1% cap)
    NOI $45,966 @ 7.0% cap · market cap 5.11%
    Second Best
    Apartment 5plus
    $605.6K
    $529.9K – $706.6K (±1% cap)
    NOI $42,393 @ 7.0% cap · market cap 4.72%
    Theoretical Best
    Office A
    $1.21M
    $1.06M – $1.41M (±1% cap)
    NOI $84,797 @ 7.0% cap · market cap 9.43%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Restaurant Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy Big Box & Wholesale Store Auto Parts Store Department Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Strafford
    State
    New Hampshire
    Longitude
    -70.9373114
    Latitude
    43.33637

    FAQs

    What type of property is this?
    Quadplex - Quadplex on a large lot with direct Salmon River access, spacious layouts, and multiple bedrooms for income.
    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 a large 1.62‑acre lot in East Rochester with direct access to the Salmon River; Wood‑frame property with vinyl exterior; roof is shingle; built in 1882; 4500+ sq ft total living space across 4 units
    More about this property
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