52&58 Pickering Rd Rochester, NH 03839
- Office Properties & Spaces
- 5,014 SF
- 0.34 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 0 52&58 Pickering Rd
- Year built
- 1900
- Lot size
- 0.34 lot acres
- Property size
- 5,014 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Mixed-use properties
Description
This exceptional value-add investment opportunity presents two adjacent, three-story apartment buildings totaling 5,014 square feet on a 0.34-acre lot in desirable Gonic, Rochester, NH. The property, built in 1900, consists of six units across two buildings, offering a 100% occupancy rate and a pro-forma NOI of $118,151, resulting in a pro-forma cap rate exceeding 13.74%. Each unit boasts unique charm with hardwood floors, tin and tray ceilings, exposed wood beams, and crown molding. Tenants enjoy breathtaking Cocheco River views and direct river access for fishing and canoeing from their expansive backyard. The buildings feature newer roofs and sharp siding, contributing to excellent curb appeal. Separate utilities minimize expenses, and ample parking is available on an adjacent lot. The convenient location is within the Gonic school district, close to local amenities, and offers easy access to downtown Rochester (1.5 miles), Route 16 (3 miles), and Portsmouth (20 miles). The property is zoned for mixed use and is currently operating as a multifamily investment with a modified lease type. The asking price is $859,800, representing a price per unit of $143,300 and a price per square foot of $171.48. This is a cash-flow focused investment with no ground lease.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Rochester
- County
- Strafford
- State
- New Hampshire
- Longitude
- -70.9731
- Latitude
- 43.272
