1549 White Mountain Hwy Conway, NH 03860
- Lifestyle centers
- 6,197 SF
- 1.61 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 1549 White Mountain Hwy
- Year built
- 2021
- Lot size
- 1.61 lot acres
- Property size
- 6,197 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a fee-simple, 6,197 square foot, two-tenant retail plaza in Conway, New Hampshire. The property, built in 2021, boasts a 100% occupancy rate with a Chipotle and an Aspen Dental as tenants. Both tenants are on net leases with corporate guarantees, minimizing landlord responsibilities. Chipotle's lease has over seven years remaining, with four five-year renewal options, while Aspen Dental's lease is a new ten-year agreement with three five-year renewal options. Rent bumps occur every five years, providing a hedge against inflation. The property sits on a 1.61-acre lot on the heavily trafficked White Mountain Highway (US Route 302/NH Route 16), adjacent to Settler's Green Outlet Village, ensuring high visibility and foot traffic. The property generates a strong net operating income (NOI) of $241,898, resulting in a 6.12% cap rate. The asking price is $3,950,000. The location benefits from strong demographics, with over 10,500 people within a five-mile radius and over 20,300 within ten miles, boasting average household incomes exceeding $89,000. Daily traffic counts on White Mountain Highway exceed 16,800 vehicles. Chipotle's modern design includes outdoor seating and a Chipotlane drive-thru, further enhancing its appeal and sales potential. This is a prime retail investment with recession-resistant tenants and significant upside potential.
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
- Conway
- County
- Carroll
- State
- New Hampshire
- Longitude
- -71.1162
- Latitude
- 44.0214
