Entity Owned 
For Sale
1 / 42
$3,300,000
144 Washington St, Portsmouth, NH 03801
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Property summary
AI-generated overview
The Leonard Cotton House is a Federal-style landmark residence located in Portsmouth’s historic Puddle Dock area, on the corner of Hancock and Washington Streets. The property sits on an approximately 0.25-acre lot and includes off-street parking, with space that could support the construction of a garage or carriage house. The house is positioned to offer views toward the Strawberry Banke Historic Museum, Prescott Park, and the Piscataqua River. Architectural features include period moldings, original eight-panel doors, and dental moldings; the third floor has exposed beams and wide pine floors and is configured as a private office area. The building has historically been used as law offices and is currently configured for professional office use. The property is zoned MRO.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1747
Construction
FRAME
Total area
3,034 SF
Lot
0.25 ac (10,890 SF)
Zoning code
MRO
APN
PRSM M:0108 B:0004 L:
UPID
US58-0579142
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Law Firm
-
Law Firm
-
Consultant
-
Insurance Agency
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$855k
Comparable Approach
Comparable
$847k
Blend (final)
Blend
$885k
Owner & transaction history
Zoning & alternative use
MRO · Portsmouth, NH
Zoning description
Mixed Residential Office MRO To provide areas where a limited range of business establishments, including live/work units, can be located near or adjacent to residential development, providing a transition between reside…
General category
MIXED_USE
Top alternative use upside
Commercial (general)
$1.4M
+47.4%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 6 comparables with addresses
3 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$885k
Value range
$797k – $974k
±10% around blend
Estimated value / SF
$292 / SF
Confidence
High
6 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
60
Income certainty
100
$797k
blend $885k
$974k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,034 SF
Lot area
0.25 ac
Year built
1747
Stories
3
APN
PRSM M:0108 B:0004 L:
Zoning
MRO
Assessed value
$1,072,800
Annual tax
$17,304
3
Income approach: direct capitalization
Partial preview
Income approach indication
$855k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$925k
@ 6.5% CAP return
$855k
@ 7% CAP return
$795k
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$17,304
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$520k
Weighted, 6 comps · high confidence
Evidence
6 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
17.3 mi away · 3,000 SF
17.3 mi away · 3,000 SF
18.8 mi away · 2,585 SF
19.2 mi away · 2,463 SF
23.2 mi away · 2,370 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$885k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 63 sales
$306
-5%
Submarket 63 sales
$306
-5%
County 176 sales
$189
+55%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $292/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+47%
vs current-use indication
Office Building · current use
Auto Repair, Garage
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 6 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$592k
Move the market yield to see immediate price impact.
Value / SF
$195
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$37k
$746k
$533k
$414k
$41k
$829k
$592k
$460k
$46k
$911k
$651k
$506k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
6 found
High confidence · county-verified
Closest comparable
$618k
12.4 mi · Nov 2025 · $281/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$17,304
Tax year 2023
Assessed value
$1,072,800
Assessed 2023
Previous assessed
$1,072,800
+0.0% YoY
Effective rate
1.61%
On assessed value
Assessed land
$645,100
Assessed improvement
$427,700
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1747
Construction
FRAME
Heating
HOT WATER
Buildings
1
Stories
3
Units
2
Total area
3,034 SF
Lot
0.25 ac (10,890 SF)
Zoning code
MRO
APN
PRSM M:0108 B:0004 L:
UPID
US58-0579142
Jurisdiction
PORTSMOUTH CITY
Metro division
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH METROPOLITAN DIVISION
Zoning & alternative use
MRO · Portsmouth, NHZoning MRO · permitted uses
MRO · Portsmouth, NH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
Mixed Residential Office MRO To provide areas where a limited range of business establishments, including live/work units, can be located near or adjacent to residential development, providing a transition between reside…
General category
MIXED_USE
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1747
Construction
FRAME
Heating
HOT WATER
Stories
3
Buildings
1
Units
2
Lot
0.25 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
MRO
MIXED_USE
Jurisdiction
Portsmouth, NH
Recorded code
MRO
Official district
MRO
Official district profile
What the municipal code says about MRO
Zoning description
Mixed Residential Office MRO To provide areas where a limited range of business establishments, including live/work units, can be located near or adjacent to residential development, providing a transition between reside…
General category
MIXED_USE
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for MRO in Portsmouth, NH.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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