Auto Shop with Vehicle
For Sale
$850,000
969 Union Avenue, Laconia, NH 03246
Commercial Sale, Laconia, NH
Property Size3,264 SF
Lot Size0.84 Acres
Price / SF$260.42
Days on Market550
Property Features for 969 Union Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Comm
Lot features
City Lot, Major Road Frontage
Directions
Directly across from Irwin marina.
Standard status
Active
Lot size
0.84 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
5539
Utilities
Utilities
Cable Available
Heating system
Propane (Heating), Electric (Heating), Oil
Water source
Public
Amenities
lifts
offices
waiting room
break room
bathrooms
storage lofts
overhead garage doors
Building Details
Year built
2001
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Listing Agency:
Coldwell Banker Realty Gilford NH · Coldwell Banker Real Estate
(603) 524-2255
Listed By:
Reed Heath
(603) 524-2255
Added: Feb 19, 2025
Changed: Aug 20
Last Checked: Aug 23 at 6:06PM
MLS# 5029838
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.
Located at 969 Union Avenue in Laconia, this 3,264-square-foot automotive property is configured for vehicle sales and service. The 2001 building includes two offices, a customer waiting area, break room, four and one-half bathrooms, two storage lofts, and overhead garage doors measuring 12 by 14 feet. Two vehicle lifts may remain with the property.
The 0.84-acre parcel provides room for approximately 50 to 60 vehicles and is zoned Comm. Construction consists of a wood frame with vinyl siding, with shingle roofing and public water service. Heating systems include propane, electric, and oil. Cable service is available.
The 0.84-acre parcel provides room for approximately 50 to 60 vehicles and is zoned Comm. Construction consists of a wood frame with vinyl siding, with shingle roofing and public water service. Heating systems include propane, electric, and oil. Cable service is available.
Key Highlights
- 3,264‑square‑foot automotive building on a 0.84‑acre parcel
- Vehicle yard accommodates approximately 50 to 60 cars
- Two lifts may remain with the property
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
Lease Details
2
Service bays
Location Intelligence
Trade Area within ½ mile
237
Businesses Nearby
Well-served
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.
Similar Off Market Nearby
- Chevrolet Body Shop — 585 Union Ave, Laconia, NH 03246
- Bayside Service — 628 Union Ave, Laconia, NH 03246
- Cantin Chevrolet Service — 623 Union Ave, Laconia, NH 03246
- VIP Tires & Service — 1033 Union Ave, Laconia, NH 03246
- Bledsoe Auto Repair — 969 Union Ave, Laconia, NH 03246
Frequently Asked Questions
What type of property is this?
Auto shop - Commercial automotive property with service bays, office space, and on-site vehicle storage.
Where is this auto shop located?
The property is located at 969 Union Avenue 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: 3,264‑square‑foot automotive building on a 0.84‑acre parcel; Vehicle yard accommodates approximately 50 to 60 cars; Two lifts may remain with the property
