Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Turnkey Multifamily Property in Derry Title is generated by Realmo AI

    5 Griffin Street, Derry, NH 03038

    View on Map
    Claim this Listing
    For Sale
    $529,000

    Updated multifamily property with income potential near downtown Derry.

    Type:Multi Family
    Property size:
    1,818 SF
    Price / SF:
    $290/SF
    Added:
    Mar 26, 2026
    Days on Market:
    68
    Last Refresh:
    Mar 26 at 8:48 pm

    Property Features for 5 Griffin Street

    General Information

    Standard status
    Active
    Size
    1,818 SF
    Property subtype
    Multi Family

    Building Details

    Year Built
    1915

    We can help!

    Listing Contact
    Premier Home Team

    Listing agent Premier Home Team

    Listing office RE/MAX Innovative Properties

    Listing date Mar 26, 2026

    Source Compass

    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 RE/MAX Innovative Properties

    HighLights

    • Turnkey multi‑family property with immediate income potential and strong rental history.
    • Updated units featuring renovated kitchens with granite counters, newer appliances, fresh paint, newer carpeting, and hardwood floors.
    • Convenient downtown Derry location with close proximity to shopping, dining, and I‑93.
    • Suitable for both owner occupants and investors.
    • Each unit has its own refrigerator and range.
    • Basement with exterior walk‑up access.

    Overview

    This turnkey multifamily property offers a strong rental history and immediate income potential. The 1,818 square foot property is suitable for both owner occupants and investors. Each unit has been updated with improvements including fresh paint, newer carpeting, hardwood floors, renovated kitchens with granite counters, and updated appliances. The property is conveniently located in downtown Derry with close proximity to shopping, dining and I -93, making it an attractive option for commuters.

    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 $52.4k $28.80
    − Vacancy −$2.2k −$1.21
    EGI $50.2k $27.59
    − OpEx −$22.6k −$12.42
    NOI $27.6k $15.17
    1,818 SF · lease $28.80/SF/yr · vacancy 4.20% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $394.1K
    $344.9K – $459.8K (±1% cap)
    NOI $27,588 @ 7.0% cap · market cap 5.22%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $605.3K
    $529.6K – $706.1K (±1% cap)
    NOI $42,368 @ 7.0% cap · market cap 8.01%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Derry
    County
    Rockingham
    State
    New Hampshire
    Longitude
    -71.3308183
    Latitude
    42.8776425

    Nearby Similar for Sale

    • $375,000
      2,457 SF

      Derry Multi-Family with Potential

      Multi-family property in Derry, NH with renovation potential.
      16 Norton Street, Derry, NH 03038
      View Details
    • $575,000

      East Derry Side-by-Side Multi-Family

      Rare side-by-side duplex on a private 1.50-acre lot.
      89 English Range Rd, Derry, NH 03038
      View Details
    • Contact for pricing

      Leased Mixed-Use Building in Derry

      100% leased mixed-use building with diverse tenant mix.
      6 W Broadway , Derry, NH 03038
      View Details
    • $1,300,000

      Commercial Kitchen with Excellent Connectivity

      Fully operational commercial kitchen near I-93 in Southern New Hampshire.
      22 Kendall Pond Rd, Derry, NH
      View Details
    • Contact for pricing
      14,564 SF

      Former Retail/Office Opportunity

      Available retail or office space with ample parking and drive-thru.
      52 Rockingham Rd, Derry, NH 03038
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Updated multifamily property with income potential near downtown Derry.
    Where is this multifamily property located?
    The property is located at 5 Griffin Street Derry, NH.
    What is the asking price?
    The asking price for this property is $529,000.
    What are key features of this property?
    This property features: Turnkey multi‑family property with immediate income potential and strong rental history.; Updated units featuring renovated kitchens with granite counters, newer appliances, fresh paint, newer carpeting, and hardwood floors.; Convenient downtown Derry location with close proximity to shopping, dining, and I‑93.
    (603) 484-8594
    We can help!
    Listing Contact
    Premier Home Team
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    5 Griffin Street, Derry, NH 03038
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!