Waterfront
For Sale
$899,000
32 Mill Street, Rochester, NH 03867
Multi-Family, Rochester, NH
Property Size4,528 SF
Lot Size1.62 Acres
Price / SF$198.54
Days on Market545
Property Features for 32 Mill Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 7, Bathroom 4, Basement, Bathroom 3, Bathroom 2, Bedroom 5, Bedroom 6, Bedroom 1, Bathroom 1, Bathroom 6, Bedroom 4, Bedroom 8, Bedroom 3, Bathroom 5, Bedroom 2
Lot features
Corner, Landscaped, Sidewalks
Elementary school
East Rochester School
Middle school
Rochester Middle School
High school
Spaulding High School
Elementary school district
Rochester City School District
Middle school district
Rochester City School District
High school district
Rochester City School District
Standard status
Active
Size
4,528 SF
Lot size
1.62 Acres
Utilities
Heating system
Steam, Natural Gas
Water source
Public
Amenities
waterfront
river access
open backyard
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
Listing Agency:
RE/MAX Shoreline · RE/MAX International
(603) 431-1111
Listed By:
Andy Yau · License #074320
(603) 969-6216
Added: Apr 14, 2025
Changed: Oct 10
Last Checked: Oct 10 at 5:06PM
MLS# 5036194
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.
Investment Insights
Based on property information with market context.
This four-unit residential property contains 4,528 square feet of living area on a 1.62-acre lot. The building dates to 1882 and includes separate utilities, attic storage, and a two-car garage. Interior details across the units include hardwood floors, crown molding, wood trim, and updated kitchen finishes. The property has 8 bedrooms and 6 bathrooms.
Residents have direct access to the Salmon River from the property. Downtown Rochester is 1.5 miles away, Route 16 is 3 miles away, and Portsmouth is 20 miles away. The site also includes an open backyard and on-site parking. R2 zoning may allow additional units with a special exception.
Residents have direct access to the Salmon River from the property. Downtown Rochester is 1.5 miles away, Route 16 is 3 miles away, and Portsmouth is 20 miles away. The site also includes an open backyard and on-site parking. R2 zoning may allow additional units with a special exception.
Key Highlights
- Four‑unit property with 4,528 square feet of living area
- 1.62‑acre waterfront property with direct Salmon River access
- 8 bedrooms and 6 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,966
Cap Rate
5.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$919,320
$919.3K
Cap Rate 7%
$656,657
$656.7K
Cap Rate 9%
$510,733
$510.7K
Market Conditions
NOI Build-Up for 4,528 SF
Gross rent
$67.9K $15.00/SF
− Vacancy
−$2.3K −$0.50/SF
EGI
$65.7K $14.50/SF
− OpEx
−$19.7K −$4.35/SF
NOI
$46.0K $10.15/SF
Area
Strafford County, NH
Vacancy
3.32%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$919,320
Cap Rate 7%
$656,657
Cap Rate 9%
$510,733
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 authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
98
Businesses Nearby
Explore this area
Business Placement
Demographics for 03867, NH
22,369
Population
10,458
Households
2.1
Avg Household Size
44
Median Age
25%
College-Educated
93%
High-School Grad
28.4 sq mi
ZIP Area
788
Density / Sq Mi
$74,397
Median Household Income
$42,613
Median Earnings
$1,217
Median Rent
$259,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units feature spacious living and dining areas, large kitchens, and multiple bedrooms.
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: Four‑unit property with 4,528 square feet of living area; 1.62‑acre waterfront property with direct Salmon River access; 8 bedrooms and 6 bathrooms
