17-Unit Motel
For Sale
$1,050,000
626 West Main St, Hillsborough, NH 03244
Motel property with owner quarters, studio apartments, and office/common areas in a commercially zoned setting.
Property Size7,186 SF
Lot Size8.82 Acres
Price / SF$146.12
Days on Market48
Property Features for 626 West Main St
General Information
Standard status
Active
Size
7,186 SF
Lot size
8.82 Acres
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1830
Listing Agency:
Tri-State Realty, LLC
(603) 566-3073
Listed By:
Nick Turmel
Source:
Lyvrealty
Added: Jul 12
Changed: Aug 28
Last Checked: Aug 25 at 5:06AM
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 Tri-State Realty, LLC
Investment Insights
Based on property information with market context.
This motel property includes 17 units across a 13-unit motel, two-bedroom owner quarters, two studio apartments above the garage, and office/common areas. The improvements date to 1830 and are situated across two parcels totaling 8.82 acres.
The property is located at 626 West Main St. in Hillsborough, at the intersection of NH Routes 202 and 9 and Route 31. Access includes two curb cuts, while the surrounding routes carry more than 11,000 vehicles daily. The commercial zoning along the state highways supports a range of potential uses, subject to town zoning review.
The property is located at 626 West Main St. in Hillsborough, at the intersection of NH Routes 202 and 9 and Route 31. Access includes two curb cuts, while the surrounding routes carry more than 11,000 vehicles daily. The commercial zoning along the state highways supports a range of potential uses, subject to town zoning review.
Key Highlights
- 17 total units: 13 motel units, two‑bedroom owner quarters, office/common areas, and two studio apartments
- Two parcels totaling 8.82 acres, including the 128 Dam Road land parcel
- Located at the intersection of NH Routes 202 and 9 and Route 31
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
$54,067
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
5.15%
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%
$1,081,340
$1.1M
Cap Rate 7%
$772,386
$772.4K
Cap Rate 9%
$600,744
$600.7K
Market Conditions
NOI Build-Up for 7,186 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
$129.3K $18.00/SF
− Vacancy
−$15.5K −$2.16/SF
EGI
$113.8K $15.84/SF
− OpEx
−$59.8K −$8.32/SF
NOI
$54.1K $7.52/SF
Area
Hillsborough County, NH
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
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%
$1,081,340
Cap Rate 7%
$772,386
Cap Rate 9%
$600,744
Alternative Uses
Best Use
Hotel Hospitality
$772.4K
$675.8K – $901.1K
NOI $54,067 @ 7.0% cap · market cap 5.15%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$13.17M
$11.52M – $15.36M
NOI $921,605 @ 7.0% cap · market cap 87.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
32
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 03244, NH
8,001
Population
3,667
Households
2.2
Avg Household Size
44
Median Age
25%
College-Educated
95%
High-School Grad
82.5 sq mi
ZIP Area
97
Density / Sq Mi
$93,886
Median Household Income
$51,022
Median Earnings
$1,112
Median Rent
$252,900
Median Home Value
Questions? Ask Rey
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Similar Off Market Nearby
- 1830 House Motel — 626 W Main St, Antrim, NH 03440
- Eighteen-Thirty House Motel — 626 w main st, hillsboro, nh 03244
- Old Mill Farm Rd — 239 Beard Rd, Hillsborough, NH 03244
Frequently Asked Questions
What type of property is this?
Motel - Motel property with owner quarters, studio apartments, and office/common areas in a commercially zoned setting.
Where is this motel located?
The property is located at 626 West Main St Hillsborough, NH.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 17 total units: 13 motel units, two‑bedroom owner quarters, office/common areas, and two studio apartments; Two parcels totaling 8.82 acres, including the 128 Dam Road land parcel; Located at the intersection of NH Routes 202 and 9 and Route 31
