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    287 Milton Rd Rochester, NH 03868

    Sponsored
    For Sale
    $495,000

    High-yield multifamily & commercial property.

    Property size:
    3,015 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents two buildings situated on a 1.4-acre lot in Rochester, New Hampshire. The property boasts 3,015 square feet of space, encompassing a 1,700 square foot commercial building constructed in 2006, and a 1,300 square foot residential building built in 1970. The commercial space, previously a restaurant, includes existing restaurant equipment such as built-in coolers. The residential building, a four-bedroom cape, features hardwood floors, wood trim, and an attractive backyard. The property is zoned Highway Commercial (HC), offering significant potential for expansion. The current zoning allows for the possibility of adding two to three more multifamily units. The property's two buildings are currently under a triple net (NNN) lease arrangement with one tenant. The asking price is $495,000, representing a compelling price per square foot of $164.18. The property generates a current NOI of $58,300, resulting in an 11.78% cap rate, and a pro-forma NOI of $55,900, yielding an 11.29% pro-forma cap rate. The property's prime location near the Maine border, 30 minutes from Portsmouth, and close proximity to major routes, restaurants, and convenience stores, further enhances its investment appeal. The substantial 620 feet of frontage adds to the property's development potential. This is a value-add opportunity with potential for subdivision.

    Property Features for 287 Milton Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    3,015 SF
    Lot Size
    60,984 SF

    Building Details

    Buildings
    2
    Stories
    2
    Units
    2

    HighLights

    • Two buildings on a 1.4‑acre lot with subdivision potential.
    • Multifamily development potential.
    • 10.16% potential capitalization rate.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Dental Office Auto Repair Shop Clothing Store Hotel & Motel Storage Facility Computer & Electronic Repair Cosmetics Store Plumbing Service Pet Store Pet Supply Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Strafford
    State
    New Hampshire
    Longitude
    -70.9863271
    Latitude
    43.3749396

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    FAQs

    What type of property is this?
    Individual retail property - High-yield multifamily & commercial property.
    Where is this individual retail property located?
    The property is located at 287 Milton Rd Rochester, NH.
    What is the asking price?
    The asking price for this property is $495,000.
    What are key features of this property?
    This property features: Two buildings on a 1.4-acre lot with subdivision potential.; Multifamily development potential.; 10.16% potential capitalization rate.
    Request Owner's contact information
    287 Milton Rd Rochester, NH 03868
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    Rochester, NH 03868
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    287 Milton Rd Rochester, NH 03868
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