Restaurant Property with
New
For Sale
$320,000
421 North Main St, Franklin, NH 03235
A commercial kitchen package and outdoor dining area are included with the building.
Property Size1,103 SF
Days on Market1
Property Features for 421 North Main St
General Information
Standard status
Active
Size
1,103 SF
Property subtype
Commercial
Building Details
Building Size
1,103 SF
Year Built
1920
Listing Agency:
Coldwell Banker Residential Brokerage
Listed By:
Reed Heath
(603) 608-6169
Source:
Elliman
Added: Sep 30
Last Checked: Sep 30 at 3:23PM
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 Coldwell Banker Residential Brokerage
Investment Insights
Based on property information with market context.
This restaurant property at 421 North Main St. in Franklin, New Hampshire, occupies approximately 0.26 acres. Built in 1920, the building has an established restaurant layout and includes the equipment currently in place. The package includes a commercial hood, fryolators, flat-top grills, sandwich coolers, ice cream coolers, and freezers, along with other restaurant equipment.
Outdoor seating includes approximately six to seven picnic tables. The sale covers the real estate, building, and equipment; the existing business name and business model are excluded.
Outdoor seating includes approximately six to seven picnic tables. The sale covers the real estate, building, and equipment; the existing business name and business model are excluded.
Key Highlights
- Approximately 0.26 acres at 421 North Main St.
- Building constructed in 1920
- Restaurant equipment includes a commercial hood, fryolators, flat‑top grills, coolers, and freezers
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
$9,042
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
2.83%
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%
$180,840
$180.8K
Cap Rate 7%
$129,171
$129.2K
Cap Rate 9%
$100,467
$100.5K
Market Conditions
NOI Build-Up for 1,103 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
$12.8K $11.64/SF
− Vacancy
−$783 −$0.71/SF
EGI
$12.1K $10.93/SF
− OpEx
−$3.0K −$2.73/SF
NOI
$9.0K $8.20/SF
Area
Merrimack County, NH
Vacancy
6.10%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
25.00%
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%
$180,840
Cap Rate 7%
$129,171
Cap Rate 9%
$100,467
Alternative Uses
Best Use
Specialty Retail
$129.2K
$113.0K – $150.7K
NOI $9,042 @ 7.0% cap · market cap 2.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$287.2K
$251.3K – $335.1K
NOI $20,104 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
60
Businesses Nearby
2k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 92%
Shops & Services 8%
Pizza Chef
Dining
2,152 visits/mo
0.1 miles
Fisher Auto Parts
Shops & Services
176 visits/mo
Demographics for 03235, NH
8,856
Population
4,021
Households
2.2
Avg Household Size
44
Median Age
19%
College-Educated
91%
High-School Grad
29.8 sq mi
ZIP Area
297
Density / Sq Mi
$69,921
Median Household Income
$41,333
Median Earnings
$1,088
Median Rent
$244,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - A commercial kitchen package and outdoor dining area are included with the building.
Where is this conventional restaurant located?
The property is located at 421 North Main St Franklin, NH.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Approximately 0.26 acres at 421 North Main St.; Building constructed in 1920; Restaurant equipment includes a commercial hood, fryolators, flat‑top grills, coolers, and freezers
