Mixed-Use Building with
For Sale
$2,300,000
68 South Main St, Rochester, NH 03867
Residential apartments and street-level commercial space create a diversified mixed-use configuration.
Property Size10,148 SF
Price / SF$226.65
Days on Market9
Property Features for 68 South Main St
General Information
Standard status
Active
Size
10,148 SF
Elevators
Yes
Net Operating Income
$120,000
Additional Details
Cap Rate
5.2%
Multifamily Units
8
Amenities
on-site coin-operated laundry
secure entry with video surveillance
private balconies
Building Details
Year Built
2011
Buildings
1
Tenancy
Multi
Listing Agency:
Duston Leddy Real Estate
(603) 365-5848
Listed By:
Jamieson Duston
Source:
Megansellsnh
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 29 at 11:51AM
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 Duston Leddy Real Estate
Investment Insights
Based on property information with market context.
Built in 2011, this 10,148-square-foot mixed-use property combines eight residential apartments with one street-level retail or office space. The building includes elevator service, controlled entry with video surveillance, on-site coin-operated laundry, and private balconies on upper-level units. Carrier heat pumps serve each unit, with utilities paid by tenants. Eagle windows and double-offset 2x6 wall construction contribute to energy efficiency and sound insulation.
Located at 68 South Main St in Rochester, New Hampshire, the property offers off-street parking and an urban setting. The asset is fully occupied by strong-performing tenants and reports a + 5.2% cap rate. Its residential and commercial components provide distinct occupancy types within one building, while tenant-paid utilities limit landlord utility responsibilities.
Located at 68 South Main St in Rochester, New Hampshire, the property offers off-street parking and an urban setting. The asset is fully occupied by strong-performing tenants and reports a + 5.2% cap rate. Its residential and commercial components provide distinct occupancy types within one building, while tenant-paid utilities limit landlord utility responsibilities.
Key Highlights
- 9‑unit mix with eight apartments and one street‑level retail/office space
- 10,148 square feet; built in 2011
- Elevator, secure entry with video surveillance, and on‑site coin‑operated laundry
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
$123,006
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
5.35%
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%
$2,460,120
$2.5M
Cap Rate 7%
$1,757,229
$1.8M
Cap Rate 9%
$1,366,733
$1.4M
Market Conditions
NOI Build-Up for 10,148 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
$182.7K $18.00/SF
− Vacancy
−$6.9K −$0.68/SF
EGI
$175.7K $17.32/SF
− OpEx
−$52.7K −$5.19/SF
NOI
$123.0K $12.12/SF
Area
Strafford County, NH
Vacancy
3.80%
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%
$2,460,120
Cap Rate 7%
$1,757,229
Cap Rate 9%
$1,366,733
Alternative Uses
Best Use
Retail
$1.76M
$1.54M – $2.05M
NOI $123,006 @ 7.0% cap · market cap 5.35%
Second Best
Mixed Use
$1.46M
$1.28M – $1.70M
NOI $102,083 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$2.71M
$2.38M – $3.17M
NOI $190,044 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
Explore this area
Business Placement
Demographics for 03867, NH
22,369
Population
10,458
Households
2.1
Avg Household Size
44
Median Age
25%
College-Educated
93%
High-School Grad
28.4 sq mi
ZIP Area
788
Density / Sq Mi
$74,397
Median Household Income
$42,613
Median Earnings
$1,217
Median Rent
$259,200
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?
Mixed-use property - Residential apartments and street-level commercial space create a diversified mixed-use configuration.
Where is this mixed-use property located?
The property is located at 68 South Main St Rochester, NH.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 9‑unit mix with eight apartments and one street‑level retail/office space; 10,148 square feet; built in 2011; Elevator, secure entry with video surveillance, and on‑site coin‑operated laundry
