6-Unit Apartment Building With Central
For Sale
$995,000
343 Main Street, Sandown, NH 03873
MULTI_FAMILY - Other - Sandown, NH
Property Size5,968 SF
Lot Size1.00 Acre
Price / SF$166.72
Days on Market97
Property Features for 343 Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
B1
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 6, Bedroom 1, Bedroom 4, Bedroom 7, Bathroom 3, Bedroom 2, Bathroom 4, Bedroom 3, Bathroom 1, Bathroom 6, Basement, Bathroom 2, Bedroom 5, Bathroom 5, Bedroom 8
Lot features
Level, In Town, Near Paths, Near School(s)
Elementary school
Sandown Central School
Middle school
Timberlane Regional Middle
High school
Timberlane Regional High Sch
Standard status
Active
Size
5,968 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10746
Utilities
Heating system
Hot Water(Heating), Oil
Cooling system
Central Air
Water source
Private
Building Details
Year built
1986
Floors in Building
2
Number of units
6
Building materials
Wood Frame
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty Metro-Londonderry
(603) 232-8282
Listed By:
Doug Martin · License #065638
(603) 232-8282
Added: May 8
Changed: Aug 3
Last Checked: Aug 12 at 12:06PM
MLS# 5087806
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 fully entitled 6-unit apartment building at 343 Main Street in Sandown, NH is ready for a streamlined rehab process, with architectural plans, demolition and construction schedules, and town approvals secured for immediate permit pull. The unit mix includes one 2-bedroom with 1.5 bathrooms, two 2-bedroom with 1 bathroom, two 1-bedroom with 1 bathroom, and one large studio.
Originally built in 1986 as a mixed-use retail and residential property, the asset’s current highest and best use is residential income. The wood-frame building includes an oil hot water heating system and central air conditioning, with a shingle roof and private water service. Additional on-site features include a large unfinished basement and a two-car garage that can support storage and supplemental rental use, along with ample on-site parking for tenant demand.
The property is located in the heart of the village, within walking distance of 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.
Originally built in 1986 as a mixed-use retail and residential property, the asset’s current highest and best use is residential income. The wood-frame building includes an oil hot water heating system and central air conditioning, with a shingle roof and private water service. Additional on-site features include a large unfinished basement and a two-car garage that can support storage and supplemental rental use, along with ample on-site parking for tenant demand.
The property is located in the heart of the village, within walking distance of 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 with architectural plans and town approvals for immediate permit pull
- Unit mix: one 2‑bedroom 1.5‑bath, two 2‑bedroom 1‑bath, two 1‑bedroom 1‑bath, one large studio
- Zoned B1 apartment building built in 1986
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$90,563
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,811,260
$1.8M
Cap Rate 7%
$1,293,757
$1.3M
Cap Rate 9%
$1,006,256
$1.0M
Market Conditions
NOI Build-Up for 5,968 SF
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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
NOI $139,084 @ 7.0% cap · market cap 13.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Zoned B1 with central air and a six-unit residential mix designed for market-rate rents after 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 with architectural plans and town approvals for immediate permit pull; Unit mix: one 2‑bedroom 1.5‑bath, two 2‑bedroom 1‑bath, two 1‑bedroom 1‑bath, one large studio; Zoned B1 apartment building built in 1986
