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    Historic Mixed-Use Brick Building Title is generated by Realmo AI

    416 Central Street, Franklin, NH 03235

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    Claim this Listing
    For Sale
    $1,000,000

    MULTI_FAMILY - Other - Franklin, NH

    Property size:
    4,714 SF
    Lot size:
    0.08 Acres
    Price / SF:
    $212/SF
    Added:
    Nov 21, 2025
    Days on Market:
    196
    Last Refresh:
    Jun 5 at 4:06 am

    Property Features for 416 Central Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    04-B2
    Bedrooms
    2
    Bathrooms
    7
    Rooms
    Bathroom 2, Bedroom 1, Bathroom 3, Bathroom 4, Basement, Bathroom 1, Bathroom 5, Bathroom 6, Bathroom 7, Bedroom 2
    Standard status
    Active
    Size
    4,714 SF
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    5897

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    1920
    Floors in Building
    2
    Number of units
    7
    Flooring type
    Wood, Laminate, Vinyl, Carpet
    Building materials
    Brick Exterior
    Architectural style
    Other

    We can help!

    Listing Contact
    Marsha Foden
    Marsha Foden

    Listing agent Marsha Foden

    Listing office Century 21 Gold Key Realty 821 Central Street, Franklin, NH

    Listing date Nov 21, 2025

    MLS# 5070568 Listing URL

    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.

    HighLights

    • Historic Kenrick Building built in 1920 with brick exterior
    • 5 residential units plus 2 commercial spaces
    • Downtown Franklin building with large display windows on the commercial units
    • Forced air heating with public water and cable available
    • Interior flooring includes wood, laminate, vinyl, and carpet
    • Basement included; multiple bathrooms and bedrooms across the unit mix

    Overview

    This historic Kenrick Building presents a brick exterior and large display windows on its commercial units. The property includes 5 residential units and 2 commercial spaces within a single structure, providing a mixed-use setup designed to support both living and storefront activity under one ownership.

    Located at 416 Central Street in downtown Franklin, the building is positioned in the heart of the community described as having rivers, outdoor activities, and local amenities. The remarks also note convenient access to hospitals and local attractions. Showings are scheduled to begin Saturday, 11/29/25 from 10:00 a.m. to 12:00 p.m., with appointments required.

    For buyers seeking a small mixed-use ownership, this configuration offers the practicality of residential units alongside dedicated commercial space. The asset is zoned 04-B2, which may be relevant for an owner evaluating how the combined residential and commercial layout fits their operating plans. For due diligence, interested parties should confirm allowable uses and requirements directly under zoning and local regulations.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $118.8k $25.20
    − Vacancy −$5.3k −$1.13
    EGI $113.4k $24.07
    − OpEx −$51.1k −$10.83
    NOI $62.4k $13.24
    4,714 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $891.4K
    $780.0K – $1.04M (±1% cap)
    NOI $62,396 @ 7.0% cap · market cap 6.24%
    Second Best
    Retail
    $784.9K
    $686.8K – $915.7K (±1% cap)
    NOI $54,942 @ 7.0% cap · market cap 5.49%
    Theoretical Best
    Office A
    $1.23M
    $1.07M – $1.43M (±1% cap)
    NOI $85,920 @ 7.0% cap · market cap 8.59%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Broken Spoon Restaurant

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Merrimack
    State
    New Hampshire
    Longitude
    -71.6446271
    Latitude
    43.4451261

    FAQs

    What type of property is this?
    Apartment building - Brick historic building offering five residential units and two commercial spaces with large display windows.
    Where is this apartment building located?
    The property is located at 416 Central Street Franklin, NH.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: Historic Kenrick Building built in 1920 with brick exterior; 5 residential units plus 2 commercial spaces; Downtown Franklin building with large display windows on the commercial units
    (603) 729-3030
    We can help!
    Listing Contact
    Marsha Foden
    Marsha Foden
    Request Owner's contact information
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    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
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