45 Hanson St Rochester, NH 03867

Property Details for 45 Hanson St

Year built

1900

Construction

FRAME

Lot size

0.20 lot acres

Property size

1,635 SF

Zone code

DTC

Property type

Investment properties

Property subtype

Live-work space

APN

RCHE M:0120 B:0383 L:0000

APU

RCHEM0120B0383L0000

Description

This exceptional mixed-use property in downtown Rochester, NH, presents a compelling investment opportunity. The 1,635 square foot building, constructed in 1900 and extensively renovated in 2020, features a two-unit multifamily configuration with 100% occupancy. The renovation included a complete overhaul of the interior, encompassing electrical, plumbing, heating systems, roof, siding, and windows. The property boasts a strong pro-forma NOI of $35,191 and a 7.04% pro-forma cap rate, reflecting its stabilized investment status. The building is classified as Class B and sits on a sizable 0.2-acre lot, zoned DTC, offering significant development potential. The oversized lot allows for the construction of an additional 7+ residential units, expanding the property's value and rental income. Separate utilities, including mini-splits and water & sewer, contribute to efficient management and low expenses. This turnkey investment is ideally suited for a triple net lease, minimizing ongoing operational demands. Located in the heart of downtown Rochester, this property benefits from its prime location in New Hampshire's largest Seacoast city by landmass and population. The property's versatility and potential for expansion make it an attractive investment for both seasoned and emerging investors.

Location Insight

City

Rochester

County

Strafford

State

New Hampshire

Longitude

-70.974

Latitude

43.3045

CBSA code

14460

CBSA name

BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments