Building Details

Year Built 1930

Tenancy Multi

Listing Agency: NH Brokerage LLC

Listed By: Mary Duquette Show Phone

Source: 603propertygroup

Added: Jul 6 Changed: Oct 2 Last Checked: Oct 7 at 3:25PM

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Investment Insights

Based on property information with market context.

This turnkey mixed-use triplex includes three units with separate meters. The commercial unit operates as a country store and features an oversized walk-in refrigerator, a newly updated bathroom, and beautiful wood floors. The second unit is a spacious two-bedroom, two-level apartment with an additional bonus room and two bathrooms, plus a private deck and landscaped backyard, and it is occupied by long-term tenants. The third unit provides a one-bedroom, open-concept layout with a 3/4 bath and a deck, and it is owner-occupied.

The property is located at 518 Province Road in Gilmanton and sits directly across the street from town offices and local businesses.

Recent improvements include a new roof, updated plumbing, electrical, drywall, and insulation in the commercial space and the second-floor apartment, along with a new water pump, water tank, hot water heater, and a newer water filtration system completed in 2024.

Key Highlights

• Three‑unit mixed‑use property (commercial + 2 residential units) with separate meters for each unit
• Commercial unit operates as a country store and includes an oversized walk‑in refrigerator, updated bathroom, and wood floors
• Second unit is a 2‑bedroom, 2‑level apartment with bonus room, two bathrooms, private deck, and landscaped backyard

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$41,846

Cap Rate

9.10%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$836,920 $836.9K

Cap Rate 7%

$597,800 $597.8K

Cap Rate 9%

$464,956 $465.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,552 SF

Gross rent

$63.9K $18.00/SF

− Vacancy

−$4.2K −$1.17/SF

EGI

$59.8K $16.83/SF

− OpEx

−$17.9K −$5.05/SF

NOI

$41.8K $11.78/SF

Area

Belknap County, NH

Vacancy

6.50%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$836,920

Cap Rate 7%

$597,800

Cap Rate 9%

$464,956

Alternative Uses

Best Use

Specialty Retail

$766.1K

$670.4K – $893.8K (±1% cap)

NOI $53,630 @ 7.0% cap · market cap 11.66%

Second Best

Multifamily LT 5

$740.4K

$647.8K – $863.8K (±1% cap)

NOI $51,827 @ 7.0% cap · market cap 11.27%

Theoretical Best

Office A

$844.7K

$739.1K – $985.5K (±1% cap)

NOI $59,128 @ 7.0% cap · market cap 12.85%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

GCS Construction Company

Suggested Use

Top Pick Storage Facility Furniture & Home Goods Kitchen & Bath Showroom Skin Care Clinic Wine and Liquor Store Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Multi-tenant

Tenancy

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

50

Businesses Nearby

Explore this area Business Placement

Demographics for 03237, NH

2,478

Population

1,340

Households

1.8

Avg Household Size

48

Median Age

43%

College-Educated

98%

High-School Grad

38.0 sq mi

ZIP Area

65

Density / Sq Mi

$107,353

Median Household Income

$53,424

Median Earnings

$317,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Triplex - Three-unit mixed-use property with separate meters, including an operating country store and two residential apartments.

Where is this triplex located?

The property is located at 518 Province Rd Gilmanton, NH.

What is the asking price?

The asking price for this property is $460,000.

What are key features of this property?

This property features: Three‑unit mixed‑use property (commercial + 2 residential units) with separate meters for each unit; Commercial unit operates as a country store and includes an oversized walk‑in refrigerator, updated bathroom, and wood floors; Second unit is a 2‑bedroom, 2‑level apartment with bonus room, two bathrooms, private deck, and landscaped backyard