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    Entitled 6-Unit Multifamily Asset Title is generated by Realmo AI

    343 Main St, Sandown, NH 03873

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    For Sale
    $1,200,000

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

    Type:Investment
    Added:
    May 11, 2026
    Days on Market:
    22
    Last Refresh:
    May 11 at 11:24 pm

    Property Features for 343 Main St

    General Information

    Standard status
    Active
    Property subtype
    Investment

    Building Details

    Year Built
    1986

    We can help!

    Listing Contact
    Doug Martin
    Doug Martin

    Listing agent Doug Martin License #065638

    Listing office Colliers - Manchester, New Hampshire

    Listing date May 11, 2026

    Source Elliman

    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 Colliers - Manchester, New Hampshire

    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
    • Local Builder Ready to Begin Rehab Work with Estimate Provided
    • Potential for Additional Income from Unfinished Basement and Two‑Car Garage
    • Walking Distance to Village Amenities

    Overview

    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.
    Location Intelligence

    Current Use by Public Records

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

    Suggested Use

    Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Auto Parts Store Food Market Grocery & Convenience Store Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Sandown
    County
    Rockingham
    State
    New Hampshire
    Longitude
    -71.1875378
    Latitude
    42.9303421

    Nearby Similar for Sale

    • $1,200,000
      5,968 SF

      Entitled Multi-Family Rehab Opportunity

      Pre-approved 6-unit multi-family asset ready for immediate rehab.
      343 Main Street, Sandown, NH 03873
      View Details
    • $2,100,000
      13,270 SF

      Sandown Industrial Bays For Sale

      Multi-tenant industrial opportunity in Sandown, New Hampshire.
      9-17 Bobcat Way, Sandown, NH
      View Details

    FAQs

    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 St Sandown, NH.
    What is the asking price?
    The asking price for this property is $1,200,000.
    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
    (603) 232-8282
    We can help!
    Listing Contact
    Doug Martin
    Doug Martin
    Real Estate License ID: 065638
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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