Retail Property with Car
For Sale
$850,000
969 Union Ave, Laconia, NH 03246
Retail property with car lot and service bays for sale.
Property Size3,266 SF
Lot Size0.84 Acres
Price / SF$260.42
Days on Market153
Property Features for 969 Union Ave
General Information
Standard status
Active
Size
3,266 SF
Lot size
0.84 Acres
Property subtype
Commercial
Building Details
Building Size
3,266 SF
Year Built
2001
Listing Agency:
Coldwell Banker Residential Brokerage
(603) 524-2255
Listed By:
Reed Heath
(603) 524-2255
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 5:37AM
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 Coldwell Banker Residential Brokerage
Investment Insights
Based on property information with market context.
This retail property, currently used as a used car sales and service lot, offers a 3,264 square foot building on just under an acre. The property can accommodate 50 to 60 cars. The building includes two offices, a waiting room, a break room, and four and a half bathrooms. It also features two storage lofts and overhead garage doors measuring 12x14. Two lifts can remain with the property. This location benefits from high traffic volume.
Key Highlights
- High‑traffic retail location ideal for business exposure.
- Large lot with capacity for 50‑60 cars.
- 3264 square foot building suitable for retail or service.
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
$38,453
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
4.52%
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%
$769,060
$769.1K
Cap Rate 7%
$549,329
$549.3K
Cap Rate 9%
$427,256
$427.3K
Market Conditions
NOI Build-Up for 3,264 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
$58.8K $18.00/SF
− Vacancy
−$3.8K −$1.17/SF
EGI
$54.9K $16.83/SF
− OpEx
−$16.5K −$5.05/SF
NOI
$38.5K $11.78/SF
Area
Belknap County, NH
Vacancy
6.50%
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%
$769,060
Cap Rate 7%
$549,329
Cap Rate 9%
$427,256
Alternative Uses
Best Use
Retail
$549.3K
$480.7K – $640.9K
NOI $38,453 @ 7.0% cap · market cap 4.52%
Second Best
Industrial
$412.0K
$360.5K – $480.7K
NOI $28,840 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$776.2K
$679.2K – $905.6K
NOI $54,334 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
380
Businesses Nearby
Balanced
Demand for This Use
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 Retail 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?
Automotive property - Retail property with car lot and service bays for sale.
Where is this automotive property located?
The property is located at 969 Union Ave Laconia, NH.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: High‑traffic retail location ideal for business exposure.; Large lot with capacity for 50‑60 cars.; 3264 square foot building suitable for retail or service.
