Classic Multifamily in
For Sale
$649,900
Pending
5 Thomas Street, Concord, NH 03301
Well-maintained Concord multifamily with income potential near Main Street.
Property Size4,296 SF
Days on Market156
Property Features for 5 Thomas Street
General Information
Standard status
Pending
Size
4,296 SF
Property subtype
Multi Family
Zoning
RH
Taxes and HOA fees
Annual Taxes
$13,114
Amenities
Steam
Yes
Combination, Hardwood, Laminate, Wood
Domestic Water Heater, Electric Water Heater, Owned Water Heater, Separate Water Heater, Water Heater
2
3
Interior
Bulkhead, Concrete, Concrete Floor, Crawl Space, Frost Wall, Full, Storage Space, Unfinished, Interior Access, Exterior Access, Basement Stairs
17
Membrane, Architectural Shingle, Asphalt Shingle
Grey
Aluminum, Wood Frame
Building Details
Year Built
1870
Listing Agency:
EXP Realty
(603) 557-6661
Listed By:
Hvizda Realty Group
(603) 557-6661
Source:
Compass
Added: Mar 30
Changed: Aug 8
Last Checked: Jul 24 at 2:46PM
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 EXP Realty
Investment Insights
Based on property information with market context.
This well-maintained multifamily property in Concord presents an opportunity for investors or owner-occupants. The property features timeless character, including large windows, hardwood floors, and tall ceilings. The building contains a total of 8 bedrooms and 4 bathrooms across three units, offering flexibility and income potential. Each unit includes its own laundry. Ample off-street parking is available for tenants and guests. The property is located moments from Concord’s Main Street, providing access to shops, dining, and local amenities. Major highways are nearby.
Key Highlights
- Strong Income Potential: Three units with 8 bedrooms and 4 bathrooms provide excellent flexibility.
- Prime Location: Moments from Concord’s Main Street, offering easy access to shops, dining, and local amenities.
- Convenient Commuting: Close proximity to major highways.
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
$56,863
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
8.75%
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%
$1,137,260
$1.1M
Cap Rate 7%
$812,329
$812.3K
Cap Rate 9%
$631,811
$631.8K
Market Conditions
NOI Build-Up for 4,296 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
$108.3K $25.20/SF
− Vacancy
−$4.9K −$1.13/SF
EGI
$103.4K $24.07/SF
− OpEx
−$46.5K −$10.83/SF
NOI
$56.9K $13.24/SF
Area
Merrimack County, NH
Vacancy
4.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$1,137,260
Cap Rate 7%
$812,329
Cap Rate 9%
$631,811
Alternative Uses
Best Use
Multifamily LT 5
$881.5K
$771.4K – $1.03M
NOI $61,708 @ 7.0% cap · market cap 9.49%
Second Best
Apartment 5plus
$812.3K
$710.8K – $947.7K
NOI $56,863 @ 7.0% cap · market cap 8.75%
Theoretical Best
Office A
$1.12M
$978.8K – $1.31M
NOI $78,301 @ 7.0% cap · market cap 12.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
360
Businesses Nearby
Explore this area
Business Placement
Demographics for 03301, NH
33,352
Population
14,486
Households
2.3
Avg Household Size
43
Median Age
42%
College-Educated
92%
High-School Grad
49.2 sq mi
ZIP Area
678
Density / Sq Mi
$85,943
Median Household Income
$49,749
Median Earnings
$1,355
Median Rent
$344,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained Concord multifamily with income potential near Main Street.
Where is this triplex located?
The property is located at 5 Thomas Street Concord, NH.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Strong Income Potential: Three units with 8 bedrooms and 4 bathrooms provide excellent flexibility.; Prime Location: Moments from Concord’s Main Street, offering easy access to shops, dining, and local amenities.; Convenient Commuting: Close proximity to major highways.
