Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    387 Norway St Berlin, NH 03570

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $599,000

    Immaculate, renovated 3-unit Victorian with strong rental history.

    Type:Investment
    Added:
    Apr 24, 2026
    Days on Market:
    9
    Last Refresh:
    Apr 24 at 8:23 pm

    Property Features for 387 Norway St

    General Information

    Standard status
    Active
    Property subtype
    Investment

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Taylor Shamberger

    Listing agent Taylor Shamberger

    Listing office

    Listing date Apr 24, 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 Taylor Shamberger

    Overview

    Renovated Victorian Triplex in Berlin

    Located in a desirable neighborhood of Berlin, New Hampshire, this renovated three-unit Victorian property presents an investment opportunity. The property has a history of strong rental income. The location attracts outdoor enthusiasts year-round due to its proximity to ATV and snowmobile trails, hiking, fishing, and skiing areas. The property has been fully renovated by a retired builder. The property is located in an area with limited bike infrastructure and is considered car-dependent.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Berlin
    County
    Coos
    State
    New Hampshire
    Longitude
    -71.1677642
    Latitude
    44.4877655

    Nearby Similar for Sale

    • $350,000

      Main Street Commercial Opportunity

      Versatile commercial property on Main Street in Berlin, NH.
      206 Main Street, Berlin, NH 03570
      View Details
    • $320,000
      4,201 SF

      Four-Unit Multifamily Investment Opportunity

      Four-unit multifamily property with long-term tenants and garage parking.
      758 Glen Avenue, Berlin, NH 03570
      View Details
    • $1,280,000

      Turnkey Recreational and Self-Storage Investment

      Self-storage facility in Berlin, NH near Jericho Mountain State Park.
      5 Saint Laurent Lane, Berlin, NH 03570
      View Details
    • $195,000

      Income-Producing Commercial Building For Sale

      Multi-tenant commercial building with income and growth potential in Berlin.
      961 Main Street, Berlin, NH 03570
      View Details
    • $214,500
      2,680 SF

      Spacious Multi-Family Investment Opportunity

      Two-unit property with potential for owner-occupants or investors.
      768 Third Avenue, Berlin, NH 03570
      View Details
    • $249,900
      4,102 SF

      Versatile Industrial-Zoned Multi-Family Property

      Income potential and exceptional workspace in Berlin, New Hampshire.
      511 Goebel Street, Berlin, NH 03570
      View Details
    • $179,000
      4,000 SF

      Berlin Multi-Family Investment Opportunity

      Three-unit building on 0.23 acres near trails.
      457 Hillsboro Street, Berlin, NH 03570
      View Details
    • $60,000

      Storage Barn/Garage Near Heritage Park

      Spacious storage barn/garage on a 50 x 100 lot.
      Heritage Lane, Berlin, NH 03570
      View Details
    • $95,000
      2,736 SF

      Berlin Multi-Family Investment Opportunity

      Multi-family property ready to be finished your way.
      712 2Nd Avenue, Berlin, NH 03570
      View Details
    • $70,000

      Downtown Berlin Mixed-Use Building

      Three-story commercial/mixed-use building in downtown Berlin, NH for sale.
      67 Main Street, Berlin, NH 03570
      View Details
    • $449,900
      5,970 SF

      Versatile Income-Producing Commercial Property

      Industrial and manufacturing property with office, manufacturing, and storage spaces.
      55 Maynesboro St, Berlin, NH 03570
      View Details
    • $214,900
      3,036 SF

      Large Multi-Unit Building in Berlin

      Three-unit building near the heart of Berlin.
      25 Wight Street, Berlin, NH 03570
      View Details

    FAQs

    What type of property is this?
    Triplex - Immaculate, renovated 3-unit Victorian with strong rental history.
    Where is this triplex located?
    The property is located at 387 Norway St Berlin, NH.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: Income‑producing 3‑unit Victorian with strong rental history.; Completely upgraded and renovated by a retired builder.; Located near ATV and snowmobile trails.
    (603) 348-7246
    We can help!
    Listing Contact
    Taylor Shamberger
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    387 Norway St, Berlin, NH 03570

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!