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Property profile & analytics
OFF-MARKET
Estimated value
$12,350,000
Hotels
10 Morgan Dr, Lebanon, NH 03766-1409
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US58-0215326
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2006
Construction
STEEL FRAME
Total area
74,917 SF
Lot
7.97 ac (347,173 SF)
Zoning code
INDL
APN
LBAN M:10 B:11 L:1302
UPID
US58-0215326
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Courtyard Hanover Lebanon Hotel & Motel
-
Norwich Partners LLC Construction Company General Contractor
-
Dartmouth college College
-
10 Morgan Drive Parking Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.42M
CAP Approach
CAP
$10.41M
Comparable Approach
Comparable
$10.26M
Blend (final)
Blend
$12.35M
Owner & transaction history
Mhh Lebanon Holdings LLC · 3 yrs held
Mhh Lebanon Holdings LLC
since 2022
Last sale
$15.0M
6 recorded transactions
Zoning & alternative use
INDL · Lebanon, NH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.6M
+29.4%
Auto repair, garage
$7.4M
+26.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lebanon submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lebanon submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$15,020,000
ML approach
$8,420,000
CAP Approach
CAP Return
Estimation
6%
$11,275,000
6.5%
$10,405,000
7%
$9,665,000
Alternative Use
Use
Estimation
RESTAURANT
$7,610,000
Change: +29% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,425,000
Change: +26% · Conversion: Difficult
Blend value · Realmo final
$12.35M
Range $11.12M – $13.59M · ±10% · vs last sale $15.01M (Dec 21 2022)
Last sale anchor
$15.01M
Dec 21 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$165 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$382,000
Tax year 2023
Assessed value
$15,733,100
Assessed 2023
Previous assessed
$15,733,100
+0.0% YoY
Effective rate
2.43%
On assessed value
Assessed land
$2,054,400
Assessed improvement
$13,678,700
Applied tax rate
41,300.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hotels
Use group
HOTEL
Status
Off-Market
Year built
2006
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
4
Units
124
Rooms
124
Bathrooms
124
Total area
74,917 SF
Lot
7.97 ac (347,173 SF)
Zoning code
INDL
APN
LBAN M:10 B:11 L:1302
UPID
US58-0215326
Jurisdiction
LEBANON
Zoning & alternative use
INDL · Lebanon, NH
Zoning INDL · permitted uses
INDL · Lebanon, NH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lebanon. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$7.6M
AUTO REPAIR, GARAGE
Est. value
$7.4M
RESTAURANT
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2006
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
4
Buildings
1
Units
124
Rooms
124
Bathrooms
124
Lot
7.97 ac
Current owner
From public records · entity-resolved
Mhh Lebanon Holdings LLC
Entity
Mailing address
10 MORGAN DR, LEBANON, NH 03766-1409
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 7, 2025
—
Mhh Lebanon Holdings LLC
—
Deed
related
$430,000,000 · Wells Fargo Bank NA
Dec 21, 2022
$15,006,000
Mhh Lebanon Holdings LLC
Upper Vly Hotel Group LLC
Warranty Deed
$476,666,667 · Goldman Sachs Bank USA
Jun 30, 2017
—
Upper Valley Hotel Group LLC
—
Deed
related
$14,158,397 · Bar Harbor Bk&tr
Dec 23, 2008
—
Upper Vly Hotel Group LLC
—
Deed Of Trust
related
$15,500,000 · Lake Sunapee Bank Nh
Aug 18, 2005
$2,000,000
Upper Valley Hotel Group
Trtes Of Dartmouth Colleg
Warranty Deed
$10,700,000 · Lake Sunapee Bank Nh
—
—
Upper Valley Hotel Group LLC
—
Deed Of Trust
related
$14,158,397 · Bar Harbor Bk&tr
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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