Prime Commercial Land I-93
For Sale
$1,500,000
Pending
374 Us Route 3, Lincoln, NH 03251
High-traffic location near I-93 with development potential.
Property Size10,726 SF
Lot Size3.73 Acres
Days on Market266
Property Features for 374 Us Route 3
General Information
Standard status
Pending
Size
10,726 SF
Lot size
3.73 Acres
Property subtype
Commercial
Building Details
Building Size
10,726 SF
Year Built
1992
Units
1
Listing Agency:
(603) 536-3333
Listed By:
Jim Spanos
(603) 536-3333
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Jul 23 at 12:02PM
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 Jim Spanos
Investment Insights
Based on property information with market context.
This property is located at the end of the exit 33 ramp on I-93, between Clarks Trading Post and Whales Tale Waterpark. The 3.75-acre site has 585 feet of Pemigewasset River frontage and high traffic volume on US Route 3. It is near attractions such as the Flume, Basin, Indian Head, and Loon Mountain Resorts. The property includes an existing 10,000 sq ft building and was formerly a historic landmark motel and restaurant known as the Mountaineer. It is suited for commercial or residential development and has town water and sewer. The property has been in the same family for over 40 years.
Key Highlights
- High‑traffic location on US Route 3, near I‑93 exit 33, between major attractions (Clarks Trading Post & Whales Tale Waterpark).
- Significant Pemigewasset River frontage (585 ft) and a large lot size (nearly 3.75 acres).
- Existing 10,000 sq ft building suitable for transformation or repurposing.
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
$114,335
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
7.62%
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%
$2,286,700
$2.3M
Cap Rate 7%
$1,633,357
$1.6M
Cap Rate 9%
$1,270,389
$1.3M
Market Conditions
NOI Build-Up for 10,726 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
$173.8K $16.20/SF
− Vacancy
−$10.4K −$0.97/SF
EGI
$163.3K $15.23/SF
− OpEx
−$49.0K −$4.57/SF
NOI
$114.3K $10.66/SF
Area
Grafton County, NH
Vacancy
6.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$2,286,700
Cap Rate 7%
$1,633,357
Cap Rate 9%
$1,270,389
Alternative Uses
Best Use
Specialty Retail
$2.29M
$2.00M – $2.67M
NOI $160,208 @ 7.0% cap · market cap 10.68%
Second Best
Retail
$1.63M
$1.43M – $1.91M
NOI $114,335 @ 7.0% cap · market cap 7.62%
Theoretical Best
Office A
$2.36M
$2.06M – $2.75M
NOI $165,158 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
32
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 03251, NH
1,631
Population
2,722
Households
0.6
Avg Household Size
53
Median Age
42%
College-Educated
90%
High-School Grad
66.3 sq mi
ZIP Area
25
Density / Sq Mi
$65,990
Median Household Income
$35,683
Median Earnings
$972
Median Rent
$312,000
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Mt. Coolidge Motel — 386 US-3, Lincoln, NH 03251
- Profile Motel & Cottages — 391 US-3, Lincoln, NH 03251
- Rodeway Inn Lincoln I-93 — 417 US-3, Lincoln, NH 03251
- Rodeway Inn — 417 us-3, lincoln, nh 03251
- Quality Inn & Suites — 381 US-3, Lincoln, NH 03251
Frequently Asked Questions
What type of property is this?
Motel - High-traffic location near I-93 with development potential.
Where is this motel located?
The property is located at 374 Us Route 3 Lincoln, NH.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: High‑traffic location on US Route 3, near I‑93 exit 33, between major attractions (Clarks Trading Post & Whales Tale Waterpark).; Significant Pemigewasset River frontage (585 ft) and a large lot size (nearly 3.75 acres).; Existing 10,000 sq ft building suitable for transformation or repurposing.
