Listing Agency: Old Mill Properties REALTORS D**@OldMillProps.com Show Phone

Listed By: Lorna Platts Sirois · License #067572 Show Phone

Source: Exprealty

Added: Apr 1 Changed: Aug 11 Last Checked: Aug 11 at 12:33PM

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Investment Insights

Based on property information with market context.

This newly constructed warehouse garage condominium measures 22’ x 54’ and includes a 12X21 mezzanine for additional storage. The unit has a 14’ overhead door, 16’ ceiling height, 6” insulated exterior walls, sheetrocked and primed interior walls, and 100 amp electrical service. An automatic garage door opener is included, and the space can accommodate up to 6 cars. The ceiling height also supports RV storage and the potential addition of a lift.

Located at 7-1853 Ragged Mountain Hwy in Alexandria, NH, the property is positioned in New Hampshire’s Lakes Region. The unit is designed for enclosed personal storage within a condominium setting, with the mezzanine creating a second storage level above the main garage area.

Key Highlights

• Newly constructed warehouse garage condominium at 7‑1853 Ragged Mountain Hwy, Alexandria, NH
• 22’ x 54’ unit with a 12X21 mezzanine for additional storage
• 14’ overhead door and 16’ ceiling height

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

$13,127

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

5.99%

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%

$262,540 $262.5K

Cap Rate 7%

$187,529 $187.5K

Cap Rate 9%

$145,856 $145.9K

Market Conditions

NOI Build-Up for 1,188 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

$16.4K $13.80/SF

− Vacancy

−$951 −$0.80/SF

EGI

$15.4K $13.00/SF

− OpEx

−$2.3K −$1.95/SF

NOI

$13.1K $11.05/SF

Area

Grafton County, NH

Vacancy

5.80%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

15.00%

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%

$262,540

Cap Rate 7%

$187,529

Cap Rate 9%

$145,856

Alternative Uses

Best Use

Warehouse

$187.5K

$164.1K – $218.8K (±1% cap)

NOI $13,127 @ 7.0% cap · market cap 5.99%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$261.3K

$228.7K – $304.9K (±1% cap)

NOI $18,293 @ 7.0% cap · market cap 8.35%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Warehouses

Suggested Use

Top Pick HVAC Service Electrical Service Dental Office Auto Repair Shop Grocery & Convenience Store Pet Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

16 ft

Clear height

1

Drive-in doors

Location Intelligence

Trade Area within ½ mile

26

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 03222, NH

5,743

Population

4,071

Households

1.4

Avg Household Size

50

Median Age

28%

College-Educated

90%

High-School Grad

71.3 sq mi

ZIP Area

81

Density / Sq Mi

$78,535

Median Household Income

$43,453

Median Earnings

$1,246

Median Rent

$256,500

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Warehouse - New construction provides enclosed storage for vehicles, recreational equipment, and other possessions.

Where is this warehouse located?

The property is located at 7-1853 Ragged Mountain Hwy Alexandria, NH.

What is the asking price?

The asking price for this property is $219,000.

What are key features of this property?

This property features: Newly constructed warehouse garage condominium at 7‑1853 Ragged Mountain Hwy, Alexandria, NH; 22’ x 54’ unit with a 12X21 mezzanine for additional storage; 14’ overhead door and 16’ ceiling height