Renovated Four-Unit
For Sale
$1,095,000
60 Charles St, Farmington, NH 03835
All four apartments are occupied under existing leases and include updated finishes plus in-unit laundry hookups.
Property Size4,600 SF
Price / SF$238.04
Days on Market43
Property Features for 60 Charles St
General Information
Standard status
Active
Size
4,600 SF
Property subtype
Multi-Family
Building Details
Year Built
1988
Listing Agency:
Mark Dickson Of White Moose Realty
(603) 472-1010
Listed By:
Chadd Dempsey Real Estate Experts
(603) 472-1010
Source:
Dempseyteam
Added: Jul 19
Changed: Aug 29
Last Checked: Aug 29 at 2:21PM
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 Mark Dickson Of White Moose Realty
Investment Insights
Based on property information with market context.
This renovated quadplex contains four two-bedroom, one-bath apartments, each with an open kitchen and living area, dual front and rear entrances, and laundry hookups. Unit sizes are approximately 1,125 SF, 1,082 SF, 991 SF, and 832 SF, with one apartment also offering bonus flex space. Improvements include stainless steel appliances, new flooring, paint, plumbing and electrical fixtures, vinyl windows, exterior doors, stairs, landings, and separate electrical panels. Individual Navien high-efficiency propane combi boilers serve the units, which are separated by fire-rated construction.
The property at 60 Charles St in Farmington, NH, occupies approximately 1 acre and includes public water and sewer, vinyl siding, propane tanks onsite, and a large paved parking area. Built in 1988 and converted from a single-family residence, the property is fully occupied with leases in place. The zoning district allows multiple uses, and the source information identifies potential for additional unit development, subject to buyer verification.
The property at 60 Charles St in Farmington, NH, occupies approximately 1 acre and includes public water and sewer, vinyl siding, propane tanks onsite, and a large paved parking area. Built in 1988 and converted from a single-family residence, the property is fully occupied with leases in place. The zoning district allows multiple uses, and the source information identifies potential for additional unit development, subject to buyer verification.
Key Highlights
- Four fully occupied apartments with leases in place
- Four 2‑bedroom, 1‑bath units
- Unit sizes of approximately 1,125 SF, 1,082 SF, 991 SF, and 832 SF
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
$46,696
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
4.26%
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%
$933,920
$933.9K
Cap Rate 7%
$667,086
$667.1K
Cap Rate 9%
$518,844
$518.8K
Market Conditions
NOI Build-Up for 4,600 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
$69.0K $15.00/SF
− Vacancy
−$2.3K −$0.50/SF
EGI
$66.7K $14.50/SF
− OpEx
−$20.0K −$4.35/SF
NOI
$46.7K $10.15/SF
Area
Strafford County, NH
Vacancy
3.32%
Lease Rate
$15.00 /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%
$933,920
Cap Rate 7%
$667,086
Cap Rate 9%
$518,844
Alternative Uses
Best Use
Multifamily LT 5
$667.1K
$583.7K – $778.3K
NOI $46,696 @ 7.0% cap · market cap 4.26%
Second Best
Apartment 5plus
$615.2K
$538.3K – $717.8K
NOI $43,067 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,145 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
118
Businesses Nearby
Explore this area
Business Placement
Demographics for 03835, NH
6,758
Population
2,994
Households
2.3
Avg Household Size
44
Median Age
20%
College-Educated
89%
High-School Grad
36.8 sq mi
ZIP Area
184
Density / Sq Mi
$63,704
Median Household Income
$33,333
Median Earnings
$963
Median Rent
$273,000
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?
Quadplex - All four apartments are occupied under existing leases and include updated finishes plus in-unit laundry hookups.
Where is this quadplex located?
The property is located at 60 Charles St Farmington, NH.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Four fully occupied apartments with leases in place; Four 2‑bedroom, 1‑bath units; Unit sizes of approximately 1,125 SF, 1,082 SF, 991 SF, and 832 SF
