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Building Details

Year Built 1986

Stories 2

Listing Agency: Keller Williams Realty Metro-Londonderry

Listed By: Doug Martin · License #065638 Show Phone

Source: Laerrealty

Added: May 11 Changed: Oct 10 Last Checked: Oct 14 at 8:14PM

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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 Keller Williams Realty Metro-Londonderry

Investment Insights

Based on property information with market context.

This is a rare opportunity to acquire a pre-approved 6-unit multi-family asset that offers moderate rehab and strong upside potential. The unit mix includes one 2-bedroom/1.5 bath, two 2-bedroom/1-bath units, two 1-bedroom/1-bath units, and one large studio, all positioned to achieve full market-rate rents upon completion. Originally built in 1986 as a mixed-use retail and residential property, the asset’s highest and best use has evolved into a fully residential income-producing investment. The property is well-positioned for a streamlined development process, with full architectural plans in place, including demolition and construction schedules, and all town approvals secured, making it ready for immediate permit pull. A local builder has already provided a rehab estimate and is prepared to begin work. Additional value can be realized through a large unfinished basement and a two-car garage, offering potential for storage or supplemental rental income. The site also provides ample on-site parking to support tenant demand. Situated in the heart of the village within walking distance to Triple Elm Coffee shop, Bruchetti’s Pizza, A and M Sandown Market, Rockingham Rail Trail, Post Office, Library, Town Beach, the historic Sandown Train Depot and the Sandown Meeting House.

Key Highlights

• Fully Entitled 6‑Unit Multi‑Family Ready for Rehab
• Full Architectural Plans and Town Approvals Secured for Immediate Permit Pull**
• Unit Mix Designed for Market‑Rate Rents Upon Completion

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$90,563

Cap Rate

9.10%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,811,260 $1.8M

Cap Rate 7%

$1,293,757 $1.3M

Cap Rate 9%

$1,006,256 $1.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,968 SF

Gross rent

$171.9K $28.80/SF

− Vacancy

−$7.2K −$1.21/SF

EGI

$164.7K $27.59/SF

− OpEx

−$74.1K −$12.42/SF

NOI

$90.6K $15.17/SF

Area

Rockingham County, NH

Vacancy

4.20%

Lease Rate

$28.80 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,811,260

Cap Rate 7%

$1,293,757

Cap Rate 9%

$1,006,256

Alternative Uses

Best Use

Apartment 5plus

$1.29M

$1.13M – $1.51M (±1% cap)

NOI $90,563 @ 7.0% cap · market cap 9.10%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.99M

$1.74M – $2.32M (±1% cap)

NOI $139,084 @ 7.0% cap · market cap 13.98%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

St. Julien Macaroons Big Box & Wholesale Store White Oaks Farms ... Bakery 603 Cuts- Haircuts ... Hair Salon

Suggested Use

Top Pick Building Supply Auto Parts Store Auto Repair Shop Hair Salon Grocery & Convenience Store Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

65

Businesses Nearby

Explore this area Business Placement

Demographics for 03873, NH

6,557

Population

2,293

Households

2.9

Avg Household Size

41

Median Age

28%

College-Educated

95%

High-School Grad

13.9 sq mi

ZIP Area

472

Density / Sq Mi

$137,813

Median Household Income

$53,636

Median Earnings

$1,856

Median Rent

$402,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Apartment building - Pre-approved 6-unit multifamily asset ready for immediate rehab.

Where is this apartment building located?

The property is located at 343 Main Street Sandown, NH.

What is the asking price?

The asking price for this property is $995,000.

What are key features of this property?

This property features: Fully Entitled 6‑Unit Multi‑Family Ready for Rehab; Full Architectural Plans and Town Approvals Secured for Immediate Permit Pull**; Unit Mix Designed for Market‑Rate Rents Upon Completion