6-Unit Apartment Building with
For Sale
$995,000
343 Main Street, Sandown, NH 03873
Multi-Family, Sandown, NH
Property Size5,968 SF
Lot Size1.00 Acre
Price / SF$166.72
Days on Market116
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 8, Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 6, Bathroom 6, Bedroom 1, Basement, Bedroom 2, Bathroom 2, Bedroom 7, Bathroom 5, Bedroom 5, Bathroom 3, Bathroom 4
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
Oil, Hot Water(Heating)
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 20
Last Checked: Aug 31 at 1:06PM
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 6-unit apartment property contains 5,968 square feet on 1 acre, with a mix of one studio, three one-bedroom or two-bedroom configurations, and two-bedroom units with 1.5 baths. The building was constructed in 1986 with wood-frame construction, shingle roofing, oil hot-water heat, central air, and private water. A two-car garage, unfinished basement, and on-site parking add functional space for residents or storage. The property is zoned B1.
Architectural plans include demolition and construction schedules, and town approvals have been secured for the proposed work. The asset is positioned for renovation, with a local builder’s estimate and readiness to begin. Its Sandown setting places it within walking distance of Triple Elm Coffee, Bruchetti’s Pizza, A and M Sandown Market, Rockingham Rail Trail, the post office, library, Town Beach, the historic Sandown Train Depot, and the Sandown Meeting House.
Architectural plans include demolition and construction schedules, and town approvals have been secured for the proposed work. The asset is positioned for renovation, with a local builder’s estimate and readiness to begin. Its Sandown setting places it within walking distance of Triple Elm Coffee, Bruchetti’s Pizza, A and M Sandown Market, Rockingham Rail Trail, the post office, library, Town Beach, the historic Sandown Train Depot, and the Sandown Meeting House.
Key Highlights
- 6‑unit apartment building with 5,968 square feet on 1 acre
- Unit mix includes one studio, two 1‑bedroom/1‑bath units, two 2‑bedroom/1‑bath units, and one 2‑bedroom/1.5‑bath unit
- Town approvals secured with architectural plans and demolition and construction schedules
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 - Residential income property with approved plans, substantial basement storage, and on-site parking in a village setting.
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: 6‑unit apartment building with 5,968 square feet on 1 acre; Unit mix includes one studio, two 1‑bedroom/1‑bath units, two 2‑bedroom/1‑bath units, and one 2‑bedroom/1.5‑bath unit; Town approvals secured with architectural plans and demolition and construction schedules
