Historic Bed & Breakfast with Gift
For Sale
$1,250,000
404 Us Route 302, Bartlett, NH 03838
Five guest rooms, owner accommodations, and river access support a combined lodging and retail operation.
Property Size4,316 SF
Price / SF$289.62
Days on Market40
Property Features for 404 Us Route 302
General Information
Standard status
Active
Size
4,316 SF
Additional Details
Business Included
Yes
Amenities
private bath
gas fireplace
direct access to Saco River
Building Details
Year Built
1900
Listing Agency:
Senne Residential LLC
(603) 986-4554
Listed By:
Tanner G Wheeler
Source:
Fhghomesnh
Added: Jul 21
Changed: Aug 27
Last Checked: Aug 28 at 12:46PM
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 Senne Residential LLC
Investment Insights
Based on property information with market context.
The Covered Bridge House combines an established bed and breakfast with an on-site gift shop and a historic covered bridge. The inn includes 5 guest rooms with private baths, a dining area, a sitting lounge with gas fireplace, and 3-bedroom owner’s quarters. The property was built in 1900 and has a property size of 4,316.
Positioned along the Saco River in Bartlett, the property offers direct river access and proximity to Attitash Ski Resort, located 1.6 miles away. Jackson Village, cross-country skiing, seasonal foliage tourism, and North Conway shopping, dining, and recreation are also part of the surrounding context. The covered bridge dates to 1850 and carried Route 302 traffic until 1939. Its Paddleford truss incorporates laminated wooden arches, adding a distinctive historic feature to the lodging and retail operation.
Positioned along the Saco River in Bartlett, the property offers direct river access and proximity to Attitash Ski Resort, located 1.6 miles away. Jackson Village, cross-country skiing, seasonal foliage tourism, and North Conway shopping, dining, and recreation are also part of the surrounding context. The covered bridge dates to 1850 and carried Route 302 traffic until 1939. Its Paddleford truss incorporates laminated wooden arches, adding a distinctive historic feature to the lodging and retail operation.
Key Highlights
- 5 guest rooms, each with a private bath
- 3‑bedroom owner’s quarters included
- Gift shop and historic covered bridge on the property
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
$54,123
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
4.33%
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%
$1,082,460
$1.1M
Cap Rate 7%
$773,186
$773.2K
Cap Rate 9%
$601,367
$601.4K
Market Conditions
NOI Build-Up for 4,316 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
$129.5K $30.00/SF
− Vacancy
−$15.5K −$3.60/SF
EGI
$113.9K $26.40/SF
− OpEx
−$59.8K −$13.86/SF
NOI
$54.1K $12.54/SF
Area
Carroll County, NH
Vacancy
12.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
52.50%
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%
$1,082,460
Cap Rate 7%
$773,186
Cap Rate 9%
$601,367
Alternative Uses
Best Use
Hotel Hospitality
$773.2K
$676.5K – $902.1K
NOI $54,123 @ 7.0% cap · market cap 4.33%
Second Best
Retail
$622.8K
$545.0K – $726.6K
NOI $43,596 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$1.08M
$943.0K – $1.26M
NOI $75,438 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 03838, NH
1,150
Population
1,677
Households
0.7
Avg Household Size
60
Median Age
33%
College-Educated
98%
High-School Grad
22.8 sq mi
ZIP Area
50
Density / Sq Mi
$68,050
Median Household Income
$1,409
Median Rent
$401,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- The Notchland Inn — 2 Morey Rd, Hart's Location, NH 03812
Frequently Asked Questions
What type of property is this?
Bed & breakfast - Five guest rooms, owner accommodations, and river access support a combined lodging and retail operation.
Where is this bed & breakfast located?
The property is located at 404 Us Route 302 Bartlett, NH.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 5 guest rooms, each with a private bath; 3‑bedroom owner’s quarters included; Gift shop and historic covered bridge on the property
