New Construction
For Sale
$2,200,000
88 Ryan Farm Road Unit 1 2 3, Windham, NH 03087
Three completed rental residences offer open living areas, private suites, laundry rooms, garages, and patios.
Property Size6,452 SF
Price / SF$340.98
Days on Market200
Property Features for 88 Ryan Farm Road Unit 1 2 3
General Information
Standard status
Active
Size
6,452 SF
Property subtype
Multi Family
Zoning
RD
Additional Details
Multifamily Units
3
Amenities
open concept main living areas
spacious kitchens with center island seating
primary suites with private baths and walk in closets
dedicated laundry
attached garages
private patios
Central AC
Propane, Forced Air
Yes
2
Interior
Concrete Floor, Unfinished
Architectural Shingle
Wood Frame, Vinyl Siding
Building Details
Year Built
2026
Listing Agency:
Compass New England, LLC
(603) 512-1408
Listed By:
Alie Broom · License #074406
(603) 512-1408
Source:
Compass
Added: Feb 11
Changed: Aug 29
Last Checked: Aug 29 at 4:09PM
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 Compass New England, LLC
Investment Insights
Based on property information with market context.
This 2026-built triplex contains three finished rental residences totaling 6,452 square feet. Individual units range from approximately 1,900 to 2,265 square feet and include open-concept living areas, kitchens with center islands, primary suites with private bathrooms and walk-in closets, additional bedrooms, dedicated laundry areas, attached garages, and private patios. Central AC and propane forced-air heating are among the interior systems, while the building has a wood-frame structure, vinyl siding, architectural shingle roofing, and concrete flooring in unfinished areas.
The property is located within a 55+ development governed by an 80/20 occupancy rule. Rental use has been approved by the Town of Windham, and the units are required to remain rentals. Zoning is RD. The sale includes all three units as one package.
The property is located within a 55+ development governed by an 80/20 occupancy rule. Rental use has been approved by the Town of Windham, and the units are required to remain rentals. Zoning is RD. The sale includes all three units as one package.
Key Highlights
- Three‑unit property with 6,452 SF of total living area
- Individual residences measure approximately 1,900 to 2,265 square feet
- Built in 2026 with wood‑frame construction and vinyl siding
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
$108,692
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
4.94%
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%
$2,173,840
$2.2M
Cap Rate 7%
$1,552,743
$1.6M
Cap Rate 9%
$1,207,689
$1.2M
Market Conditions
NOI Build-Up for 6,452 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
$162.6K $25.20/SF
− Vacancy
−$7.3K −$1.13/SF
EGI
$155.3K $24.07/SF
− OpEx
−$46.6K −$7.22/SF
NOI
$108.7K $16.85/SF
Area
Rockingham County, NH
Vacancy
4.50%
Lease Rate
$25.20 /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%
$2,173,840
Cap Rate 7%
$1,552,743
Cap Rate 9%
$1,207,689
Alternative Uses
Best Use
Multifamily LT 5
$1.55M
$1.36M – $1.81M
NOI $108,692 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$1.40M
$1.22M – $1.63M
NOI $97,907 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$2.15M
$1.88M – $2.51M
NOI $150,364 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
232
Businesses Nearby
Explore this area
Business Placement
Demographics for 03087, NH
15,817
Population
5,753
Households
2.7
Avg Household Size
43
Median Age
66%
College-Educated
98%
High-School Grad
26.7 sq mi
ZIP Area
592
Density / Sq Mi
$189,450
Median Household Income
$92,070
Median Earnings
$3,226
Median Rent
$684,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three completed rental residences offer open living areas, private suites, laundry rooms, garages, and patios.
Where is this triplex located?
The property is located at 88 Ryan Farm Road Unit 1 2 3 Windham, NH.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Three‑unit property with 6,452 SF of total living area; Individual residences measure approximately 1,900 to 2,265 square feet; Built in 2026 with wood‑frame construction and vinyl siding
