Five-Unit Apartment
For Sale
$975,000
8 Lewis Street, Laconia, NH 03246
Multi-Family, Laconia, NH
Property Size4,790 SF
Lot Size0.46 Acres
Price / SF$203.55
Days on Market94
Property Features for 8 Lewis Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RS
Bedrooms
11
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 1, Bedroom 3, Bedroom 9, Bathroom 2, Bathroom 4, Bathroom 5, Bathroom 6, Bedroom 2, Bedroom 7, Basement, Bedroom 10, Bedroom 4, Bedroom 5, Bedroom 11, Bedroom 8, Bedroom 6, Bedroom 1, Bathroom 3
Lot features
City Lot, Corner, Neighborhood, Near School(s)
Elementary school
Pleasant Street Elementary Sch
Middle school
Laconia Middle School
High school
Laconia High School
Elementary school district
Laconia Sch Dst SAU #30
Middle school district
Laconia Sch Dst SAU #30
High school district
Laconia Sch Dst SAU #30
Directions
From Meredith take Rt 106 (Parade Rd) straight to North Main St and Lewis is on the left before the Fire Station and Opechee Park. 8 Lewis is on the corner.
Standard status
Active
Size
4,790 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7264
Utilities
Heating system
Hot Water(Heating)
Water source
Public
Building Details
Year built
1887
Floors in Building
2
Number of units
5
Flooring type
Vinyl, Carpet
Building materials
Wood Frame
Roof type
Shingle
Architectural style
Other
Listing Agency:
RE/MAX Innovative Bayside · RE/MAX International
(603) 279-0079
Listed By:
Jim Miller
(603) 434-4101
Added: Jun 2
Changed: Aug 30
Last Checked: Sep 3 at 7:06AM
MLS# 5092535
Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This five-unit apartment building contains 4,790 square feet on a 0.46-acre parcel. The unit mix extends from studio apartments to a four-bedroom layout, providing varied residential configurations within one property. Built in 1887, the wood-frame building has vinyl and carpet flooring, hot-water heating, a shingle roof, and public water service. The property is zoned RS.
Located on Lewis Street in Laconia, the building is within walking distance of downtown, shopping, restaurants, schools, and parks. Lake Opechee’s public beach is also a short walk away. The property is positioned in the Lakes Region community of Laconia, with in-town access to everyday services and nearby waterfront recreation.
Located on Lewis Street in Laconia, the building is within walking distance of downtown, shopping, restaurants, schools, and parks. Lake Opechee’s public beach is also a short walk away. The property is positioned in the Lakes Region community of Laconia, with in-town access to everyday services and nearby waterfront recreation.
Key Highlights
- Five‑unit apartment property with a studio‑to‑four‑bedroom unit mix
- 4,790 square feet on 0.46 acres
- Built in 1887 with wood‑frame construction
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
$64,265
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
6.59%
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%
$1,285,300
$1.3M
Cap Rate 7%
$918,071
$918.1K
Cap Rate 9%
$714,056
$714.1K
Market Conditions
NOI Build-Up for 4,790 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
$120.7K $25.20/SF
− Vacancy
−$3.9K −$0.81/SF
EGI
$116.8K $24.39/SF
− OpEx
−$52.6K −$10.98/SF
NOI
$64.3K $13.42/SF
Area
Belknap County, NH
Vacancy
3.20%
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%
$1,285,300
Cap Rate 7%
$918,071
Cap Rate 9%
$714,056
Alternative Uses
Best Use
Apartment 5plus
$918.1K
$803.3K – $1.07M
NOI $64,265 @ 7.0% cap · market cap 6.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$996.7K – $1.33M
NOI $79,736 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
174
Businesses Nearby
Explore this area
Business Placement
Demographics for 03246, NH
16,905
Population
10,426
Households
1.6
Avg Household Size
47
Median Age
25%
College-Educated
93%
High-School Grad
19.9 sq mi
ZIP Area
849
Density / Sq Mi
$68,407
Median Household Income
$40,504
Median Earnings
$1,180
Median Rent
$307,800
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 apartments offer layouts from studio accommodations through four-bedroom units in an established residential setting.
Where is this apartment building located?
The property is located at 8 Lewis Street Laconia, NH.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Five‑unit apartment property with a studio‑to‑four‑bedroom unit mix; 4,790 square feet on 0.46 acres; Built in 1887 with wood‑frame construction
