Historic Multifamily
53 Austin Street, Portsmouth, NH 03801
For Sale
$3,600,000
A converted carriage house and stable provide three additional apartments in downtown Portsmouth.
Property Size7,648 SF
Price / SF$470.71
Days on Market146
Property Features for 53 Austin Street
General Information
Standard status
Size
Property subtype
Zoning
Taxes and HOA fees
Annual Taxes
Amenities
Building
Partial FenceÂ
Storage
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Tate & Foss Sotheby's International Rlty
Listed By:
Tony Jalbert
(603) 964-8028
Source:
Bigbearrevt
Added: Jun 17
Changed: Nov 5
Last Checked: Nov 9 at 5:42AM
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 Tate & Foss Sotheby's International Rlty
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Investment Insights
Based on property information with market context.
This 7,648-square-foot property combines a six-bedroom main residence with three apartments created from the former carriage house and stable. The apartment mix includes two one-bedroom units and one two-bedroom unit. The main residence has six renovated bathrooms, a granite kitchen, wide-board cherry floors, high ceilings, detailed millwork, and marble fireplace mantels. The property is zoned GRC.
Located on Austin Street, the property is steps from downtown Portsmouth. An existing inn license may support boutique hospitality, subject to approvals. The property also has potential for continued use as a private residence, a multigenerational compound, or a condominium conversion, subject to applicable approvals.
Located on Austin Street, the property is steps from downtown Portsmouth. An existing inn license may support boutique hospitality, subject to approvals. The property also has potential for continued use as a private residence, a multigenerational compound, or a condominium conversion, subject to applicable approvals.
Key Highlights
- 7,648‑square‑foot property with a six‑bedroom main residence
- Three apartments: two one‑bedroom units and one two‑bedroom unit
- Main residence includes six renovated bathrooms and a granite kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$116,056
Cap Rate
3.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,321,120
$2.3M
Cap Rate 7%
$1,657,943
$1.7M
Cap Rate 9%
$1,289,511
$1.3M
Market Conditions
NOI Build-Up for 7,648 SF
Gross rent
$220.3K $28.80/SF
− Vacancy
−$9.3K −$1.21/SF
EGI
$211.0K $27.59/SF
− OpEx
−$95.0K −$12.42/SF
NOI
$116.1K $15.17/SF
Area
Rockingham County, NH
Vacancy
4.20%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,321,120
Cap Rate 7%
$1,657,943
Cap Rate 9%
$1,289,511
Alternative Uses
Best Use
Apartment 5plus
$1.66M
$1.45M – $1.93M
NOI $116,056 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.55M
$2.23M – $2.97M
NOI $178,236 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
2,843
Businesses Nearby
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Business Placement
Demographics for 03801, NH
22,767
Population
11,448
Households
2
Avg Household Size
43
Median Age
63%
College-Educated
98%
High-School Grad
23.8 sq mi
ZIP Area
957
Density / Sq Mi
$106,520
Median Household Income
$65,984
Median Earnings
$1,783
Median Rent
$647,500
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Rockingham County, NH
Properties on Market for Multifamily properties in Rockingham County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - A converted carriage house and stable provide three additional apartments in downtown Portsmouth.
Where is this multifamily property located?
The property is located at 53 Austin Street Portsmouth, NH.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: 7,648‑square‑foot property with a six‑bedroom main residence; Three apartments: two one‑bedroom units and one two‑bedroom unit; Main residence includes six renovated bathrooms and a granite kitchen
