16 Bobalink Cir Hancock, NH 03449-6207

Property Details for 16 Bobalink Cir

Year built

1975

Lot size

7.31 lot acres

Property size

2,796 SF

Zone code

RURALR

Property type

Commercial real estate

APN

HNCK M:00R08 L:000040 S:000000

APU

HNCKM00R08L000040S000000

Description

This unique investment opportunity in Hancock, New Hampshire, presents a 10-acre property encompassing a diverse portfolio of income-generating assets. The property includes three buildings totaling 4,112 square feet, offering a blend of residential and commercial spaces. Currently, the property generates a $4,500 monthly income stream, with potential for significant increases. The residential component features a two-story home with multiple rental units, currently bringing in $2,400 per month. The commercial space consists of a two-bay garage with a hydraulic lift, power, wood stove, water, and sewer ($850/month), and a smaller one-bay garage with similar amenities ($300/month). Additional income sources include a camper site ($450/month) and a tiny house site ($600/month). A mobile home site with utilities is also available, presenting a further rental opportunity. The property boasts two wells and four septic systems. The land is divided into two parcels, 7.31 acres and 2.72 acres, offering potential for future development and expansion. Built in 1975, the property is classified as Class C, with a current 70% occupancy rate, projected to be 100% by October 25, 2024. The asking price is $650,000, representing a 6.34% cap rate and a price per square foot of $158.07. The property is zoned Rural/Rural and offers a compelling blend of established income and significant upside potential. The Net Operating Income (NOI) is $41,208. This is a gross lease property with four tenants.

Location Insight

City

Hancock

County

Hillsborough

State

New Hampshire

Longitude

-71.9504

Latitude

42.96

CBSA code

31700

CBSA name

MANCHESTER-NASHUA, NH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments