Apartment Building with Commercial
For Sale
$675,000
4 Depot Street, Pittsfield, NH 03263
Multi-Family, Pittsfield, NH
Property Size6,726 SF
Lot Size0.10 Acres
Price / SF$100.36
Days on Market170
Property Features for 4 Depot Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
COMMER
Rooms
Basement
Lot features
City Lot
Standard status
Active
Size
6,726 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9322
Utilities
Utilities
Propane
Heating system
Propane (Heating)
Water source
Public
Building Details
Year built
1851
Floors in Building
2
Number of units
5
Building materials
Wood Frame
Roof type
Membrane
Architectural style
Other
Listing Agency:
Realty One Group Next Level
(603) 262-3500
Listed By:
Todd Koss
(603) 389-6604
Added: Mar 19
Changed: Aug 20
Last Checked: Sep 4 at 8:06AM
MLS# 5080025
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 6,726-square-foot apartment building contains 4 residential units and 1 commercial unit on a 0.1-acre parcel in downtown Pittsfield. The wood-frame property dates to 1851 and includes a basement, membrane roof, public water service, and propane heating. Recent upgrades are noted, with individual propane and hot water hookups serving the units.
Tenants pay their own heat and electric costs, supporting separately assigned utility responsibilities within the property. The site is zoned COMMER and offers a combination of residential and commercial occupancy in a single downtown building. A 9% cap rate potential is identified in the listing information.
Tenants pay their own heat and electric costs, supporting separately assigned utility responsibilities within the property. The site is zoned COMMER and offers a combination of residential and commercial occupancy in a single downtown building. A 9% cap rate potential is identified in the listing information.
Key Highlights
- 4 residential units and 1 commercial unit
- 6,726‑square‑foot building on a 0.1‑acre parcel
- Downtown Pittsfield location at 4 Depot Street
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
$60,332
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
8.94%
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%
$1,206,640
$1.2M
Cap Rate 7%
$861,886
$861.9K
Cap Rate 9%
$670,356
$670.4K
Market Conditions
NOI Build-Up for 6,726 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
$104.9K $15.60/SF
− Vacancy
−$8.4K −$1.25/SF
EGI
$96.5K $14.35/SF
− OpEx
−$36.2K −$5.38/SF
NOI
$60.3K $8.97/SF
Area
Merrimack County, NH
Vacancy
8.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,206,640
Cap Rate 7%
$861,886
Cap Rate 9%
$670,356
Alternative Uses
Best Use
Apartment 5plus
$1.27M
$1.11M – $1.48M
NOI $89,027 @ 7.0% cap · market cap 13.19%
Second Best
Mixed Use
$861.9K
$754.2K – $1.01M
NOI $60,332 @ 7.0% cap · market cap 8.94%
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,592 @ 7.0% cap · market cap 18.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
4
Residential units
Location Intelligence
Trade Area within ½ mile
189
Businesses Nearby
Explore this area
Business Placement
Demographics for 03263, NH
4,094
Population
1,868
Households
2.2
Avg Household Size
41
Median Age
20%
College-Educated
91%
High-School Grad
24.5 sq mi
ZIP Area
167
Density / Sq Mi
$66,823
Median Household Income
$43,466
Median Earnings
$1,185
Median Rent
$270,600
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 - Downtown property combining residential apartments with a commercial unit and separately metered propane and electric responsibilities.
Where is this apartment building located?
The property is located at 4 Depot Street Pittsfield, NH.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 4 residential units and 1 commercial unit; 6,726‑square‑foot building on a 0.1‑acre parcel; Downtown Pittsfield location at 4 Depot Street
