Five-Unit Multifamily
For Sale
$1,000,000
60 S State Street, Concord, NH 03301
Five residential units with off-street parking on a manageable lot near downtown Concord.
Property Size4,459 SF
Days on Market45
Property Features for 60 S State Street
General Information
Standard status
Active
Size
4,459 SF
Property subtype
Multi Family Home
Zoning
RN
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$14,127
Building Details
Building Size
4,459 SF
Year Built
1900
Stories
2
Units
5
Listing Agency:
Keller Williams Realty-Metropolitan
(603) 232-8282
Listed By:
Kelly Erwin
(603) 232-8282
Source:
Ossipeelakere
Added: Jul 12
Changed: Aug 25
Last Checked: Aug 24 at 12:43PM
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 Keller Williams Realty-Metropolitan
Investment Insights
Based on property information with market context.
This five-unit multifamily property contains five residential units and is offered for sale as an income-producing building. Off-street parking is provided on a manageable lot, supporting day-to-day tenant needs.
The property is located in the heart of Concord, just minutes from downtown, the State House, shopping, restaurants, parks, and major commuter routes. The area is described as having convenient access to public transportation, schools, and local amenities.
The building’s straightforward five-unit configuration provides multiple rental income streams within a single asset.
The property is located in the heart of Concord, just minutes from downtown, the State House, shopping, restaurants, parks, and major commuter routes. The area is described as having convenient access to public transportation, schools, and local amenities.
The building’s straightforward five-unit configuration provides multiple rental income streams within a single asset.
Key Highlights
- Five‑unit multifamily property built in 1900
- All five residential units provide multiple rental income streams
- Off‑street parking and a manageable lot included
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
$59,021
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
5.90%
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%
$1,180,420
$1.2M
Cap Rate 7%
$843,157
$843.2K
Cap Rate 9%
$655,789
$655.8K
Market Conditions
NOI Build-Up for 4,459 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
$112.4K $25.20/SF
− Vacancy
−$5.1K −$1.13/SF
EGI
$107.3K $24.07/SF
− OpEx
−$48.3K −$10.83/SF
NOI
$59.0K $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%
$1,180,420
Cap Rate 7%
$843,157
Cap Rate 9%
$655,789
Alternative Uses
Best Use
Apartment 5plus
$843.2K
$737.8K – $983.7K
NOI $59,021 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.16M
$1.02M – $1.35M
NOI $81,272 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,166
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?
Apartment building - Five residential units with off-street parking on a manageable lot near downtown Concord.
Where is this apartment building located?
The property is located at 60 S State Street Concord, NH.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Five‑unit multifamily property built in 1900; All five residential units provide multiple rental income streams; Off‑street parking and a manageable lot included
