Building Details

Year Built 1930

Tenancy Multi

Listing Agency: NH Brokerage LLC

Listed By: Mary Duquette Show Phone

Source: Profoundrealestate

Added: Mar 24 Changed: Sep 3 Last Checked: Sep 2 at 8:24PM

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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 NH Brokerage LLC

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 = 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

$41,846

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

9.00%

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%

$836,920 $836.9K

Cap Rate 7%

$597,800 $597.8K

Cap Rate 9%

$464,956 $465.0K

Market Conditions

NOI Build-Up for 3,552 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

$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 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%

$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 11.53%

Second Best

Multifamily LT 5

$740.4K

$647.8K – $863.8K (±1% cap)

NOI $51,827 @ 7.0% cap · market cap 11.15%

Theoretical Best

Office A

$844.7K

$739.1K – $985.5K (±1% cap)

NOI $59,128 @ 7.0% cap · market cap 12.72%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

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 Road Gilmanton, NH.

What is the asking price?

The asking price for this property is $465,000.

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