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    Mitchell Rd Nottingham, NH 03290

    • Land
    • 40.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Mitchell Rd

    Lot size
    40.00 lot acres
    Property type
    Land

    Description

    This exceptional 40-acre parcel in Nottingham, New Hampshire presents a unique investment opportunity. Zoned R-AG RES/AGR DIST, the property boasts 13 approved 2+ acre building lots, perfect for residential development. Two lots are conveniently situated on scenic Mitchell Road, offering picturesque settings for future homes. Construction is underway on Stone Grey Road, providing immediate access to several lots. The existing road is sold "as is," and prospective buyers are responsible for conducting their own due diligence with the Town of Nottingham. This prime location offers unparalleled convenience, situated minutes from the vibrant town of Dover, NH, and the energetic University of New Hampshire campus in Durham, NH. Portsmouth, NH is approximately 23 miles away, providing easy access to coastal amenities. The property's proximity to the Lee Traffic Circle ensures convenient commuting. The asking price is $1,495,000, translating to $37,375 per approved lot or $2,836 per acre. This represents a compelling opportunity for builders and developers seeking to capitalize on the high demand for residential properties in this desirable New Hampshire location. The land offers a blend of accessibility and tranquility, making it an ideal setting for a new residential community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Nottingham
    County
    Rockingham
    State
    New Hampshire
    Longitude
    -71.0425
    Latitude
    43.1421

    Comparable in this City

    • Value Estimation by Request

      17th Ada Dr

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    • Value Estimation
      $245,000
      3,512 SF

      186 Old Tpke Rd

      SHOW ROOM, WAREHOUSE • 3,512 SF
      186 Old Tpke Rd, Nottingham, NH 03290
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    • Value Estimation by Request

      24th Ada Dr

      MIXED USE (COMMERCIAL/INDUSTRIAL)
      24th Ada Dr, Nottingham, NH 03290-5911
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    • Value Estimation
      $300,000

      22nd Sera Dr

      MIXED USE (COMMERCIAL/INDUSTRIAL)
      22nd Sera Dr, Nottingham, NH 03290-5318
      View Details
    • Value Estimation
      $255,000

      22 Sera Dr, Unit B

      MIXED USE (COMMERCIAL/INDUSTRIAL)
      22 Sera Dr, Nottingham, NH 03290-5319
      View Details
    • Value Estimation
      $345,000
      2,045 SF

      Cedar Waters Vlg

      COMMERCIAL (GENERAL) • 2,045 SF
      Cedar Waters Vlg, Nottingham, NH 03290
      View Details

    Similar Nearby for Sale

    • $210,000
      2.00 Acres

      Two Acre Residential Land Parcel

      Two acre lot suitable for building a custom home.
      61 Freeman Hall Rd, Nottingham, NH 03290
      View Details
    • $180,000
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      Nottingham Land Parcel For Sale

      3.03 acre lot in Nottingham, NH ready for development.
      1N-7 Lipizzan Dr, Nottingham, NH 03290
      View Details
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    Mitchell Rd
    Nottingham, NH 03290
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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