546 Main St Farmington, NH 03835

Property Details for 546 Main St

Year built

1900

Property size

2,671 SF

Property type

Commercial real estate

Description

This meticulously updated two-unit apartment building, located at 546 Main St, Farmington, NH 03835, presents a compelling investment opportunity. The property, a Class B building constructed in 1900, features a total of 2,671 square feet situated on a 4,356 square foot lot within the Village District zoning. The building boasts three stories and includes five parking spaces. Currently operating at 100% occupancy, this stabilized cash-flow investment offers a pro-forma cap rate of 10.78% and a pro-forma NOI of $43,099. Each unit is separately metered for utilities, enhancing efficiency and management. The lower unit is a spacious one-bedroom apartment with modern updates including sleek gray cabinets, stainless steel appliances, and luxury vinyl flooring, complete with an in-unit washer and dryer. The upper unit is a larger two-level unit with three or more bedrooms and ample living space. The property benefits from a recently installed propane gas boiler and a well-maintained exterior, including a newer roof and siding. Its prime location offers easy access to Route 16, local amenities, and the scenic beauty of New Hampshire's seacoast, lakes, and mountains. The asking price is $399,900, representing $199,950 per unit and $149.72 per square foot. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a desirable location.

Location Insight

City

Farmington

County

Strafford

State

New Hampshire

Longitude

-71.0655042

Latitude

43.3922313