Renovated Four-Unit Mixed-Use
For Sale
$599,900
459 Lake St, Bristol, NH 03222
Commercial and residential spaces combine with paved parking and updates completed in 2018.
Property Size4,128 SF
Price / SF$145.32
Days on Market10
Property Features for 459 Lake St
General Information
Standard status
Active
Size
4,128 SF
Additional Details
Road Access
Yes
Building Details
Year Built
1986
Year Renovated
2018
Buildings
1
Tenancy
Multi
Abandoned
No
Listing Agency:
Old Mill Properties REALTORS
(603) 744-8526
Listed By:
Lorna Platts Sirois · License #067572
Source:
Langelange
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 28 at 9:07AM
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 Old Mill Properties REALTORS
Investment Insights
Based on property information with market context.
This four-unit mixed-use property at 459 Lake St in Bristol, New Hampshire, contains commercial, office, and residential components across multiple levels. The main floor provides a five-room commercial suite with a lobby and reception area, half bath, and laundry hookups. A professional office occupies the basement and includes three private offices, a shared workroom with built-in stations, conference room, half bath, and kitchen area.
The second floor is configured as a three-bedroom apartment with palladium windows in the kitchen and living room. A two-bedroom apartment occupies the third floor. Kitchen and cosmetic improvements throughout the residential spaces were completed in 2018. Built in 1986, the property also includes a level, paved parking lot with room for 15+ cars.
The second floor is configured as a three-bedroom apartment with palladium windows in the kitchen and living room. A two-bedroom apartment occupies the third floor. Kitchen and cosmetic improvements throughout the residential spaces were completed in 2018. Built in 1986, the property also includes a level, paved parking lot with room for 15+ cars.
Key Highlights
- Four‑unit mixed‑use building with commercial, office, and residential space
- Main floor includes a five‑room commercial suite with lobby, reception area, half bath, and laundry hookups
- Basement office has 3 private offices, built‑in workstations, conference room, kitchen area, and half baths
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
$49,927
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
8.32%
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%
$998,540
$998.5K
Cap Rate 7%
$713,243
$713.2K
Cap Rate 9%
$554,744
$554.7K
Market Conditions
NOI Build-Up for 4,128 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
$76.8K $18.60/SF
− Vacancy
−$10.2K −$2.47/SF
EGI
$66.6K $16.13/SF
− OpEx
−$16.6K −$4.03/SF
NOI
$49.9K $12.09/SF
Area
Grafton County, NH
Vacancy
13.30%
Lease Rate
$18.60 /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%
$998,540
Cap Rate 7%
$713,243
Cap Rate 9%
$554,744
Alternative Uses
Best Use
Office B
$713.2K
$624.1K – $832.1K
NOI $49,927 @ 7.0% cap · market cap 8.32%
Second Best
Retail
$628.6K
$550.0K – $733.4K
NOI $44,003 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$908.0K
$794.5K – $1.06M
NOI $63,563 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
104
Businesses Nearby
Explore this area
Business Placement
Demographics for 03222, NH
5,743
Population
4,071
Households
1.4
Avg Household Size
50
Median Age
28%
College-Educated
90%
High-School Grad
71.3 sq mi
ZIP Area
81
Density / Sq Mi
$78,535
Median Household Income
$43,453
Median Earnings
$1,246
Median Rent
$256,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial and residential spaces combine with paved parking and updates completed in 2018.
Where is this mixed-use property located?
The property is located at 459 Lake St Bristol, NH.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Four‑unit mixed‑use building with commercial, office, and residential space; Main floor includes a five‑room commercial suite with lobby, reception area, half bath, and laundry hookups; Basement office has 3 private offices, built‑in workstations, conference room, kitchen area, and half baths
