Mixed-Use Property with
For Sale
$450,000
4 Union Street, Milford, NH 03055
Commercially zoned building combining an occupied three-bedroom residence with a former diner space on the first floor.
Property Size1,910 SF
Price / SF$235.60
Days on Market150
Property Features for 4 Union Street
General Information
Standard status
Active
Size
1,910 SF
Property subtype
Multi Family
Zoning
commercial
Units
Unit Mix
1 x 3BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,855
Amenities
Forced Air
Yes
2
1
Interior
Unfinished
Membrane
white
Wood Frame
Building Details
Year Built
1920
Stories
2
Listing Agency:
Zaharias Real Estate
(603) 880-3059
Listed By:
Melanie Zaharias
(603) 880-3059
Source:
Compass
Added: Apr 3
Changed: Aug 29
Last Checked: Aug 29 at 1:49PM
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 Zaharias Real Estate
Investment Insights
Based on property information with market context.
This 1,910-square-foot mixed-use property, built in 1920, has a two-level configuration with residential space above commercial space. The second-floor apartment contains three bedrooms and is occupied, providing rental income. On the first floor, the former diner area has been cleaned and is positioned for a new business use. The building has a wood-frame exterior with a membrane roof and forced-air heating.
Located at 4 Union Street in Milford, New Hampshire, the property is within a community setting that includes restaurants, shops, and a library. Commercial zoning supports the property’s mixed-use format, with an established residential component and a street-level commercial area.
Located at 4 Union Street in Milford, New Hampshire, the property is within a community setting that includes restaurants, shops, and a library. Commercial zoning supports the property’s mixed-use format, with an established residential component and a street-level commercial area.
Key Highlights
- 1,910‑square‑foot mixed‑use property built in 1920
- Occupied second‑floor three‑bedroom apartment generating rental income
- First‑floor former diner space has been cleaned for a new business
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
$25,987
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
5.77%
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%
$519,740
$519.7K
Cap Rate 7%
$371,243
$371.2K
Cap Rate 9%
$288,744
$288.7K
Market Conditions
NOI Build-Up for 1,910 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
$49.7K $26.04/SF
− Vacancy
−$2.5K −$1.30/SF
EGI
$47.2K $24.74/SF
− OpEx
−$21.3K −$11.13/SF
NOI
$26.0K $13.61/SF
Area
Hillsborough County, NH
Vacancy
5.00%
Lease Rate
$26.04 /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%
$519,740
Cap Rate 7%
$371,243
Cap Rate 9%
$288,744
Alternative Uses
Best Use
Specialty Retail
$3.50M
$3.06M – $4.08M
NOI $244,958 @ 7.0% cap · market cap 54.44%
Second Best
Apartment 5plus
$371.2K
$324.8K – $433.1K
NOI $25,987 @ 7.0% cap · market cap 5.77%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
613
Businesses Nearby
Explore this area
Business Placement
Demographics for 03055, NH
16,120
Population
6,692
Households
2.4
Avg Household Size
41
Median Age
34%
College-Educated
96%
High-School Grad
25.4 sq mi
ZIP Area
635
Density / Sq Mi
$94,514
Median Household Income
$52,979
Median Earnings
$1,569
Median Rent
$363,500
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?
Mixed-use property - Commercially zoned building combining an occupied three-bedroom residence with a former diner space on the first floor.
Where is this mixed-use property located?
The property is located at 4 Union Street Milford, NH.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,910‑square‑foot mixed‑use property built in 1920; Occupied second‑floor three‑bedroom apartment generating rental income; First‑floor former diner space has been cleaned for a new business
