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    6 Smith Ct Farmington, NH 03835
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    Property profile & analytics

    6 Smith Ct Farmington, NH 03835

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    • Commercial real estate
    • 2,178 SF
    Off-Market
    Property ID
    US58-0158266
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 6 Smith Ct

    Year built
    1900
    Property size
    2,178 SF
    Property type
    Commercial real estate

    Description

    This meticulously updated two-unit apartment building in Farmington, NH, presents a compelling investment opportunity. Located at 6 Smith Court, this Class B property boasts a total of 2,178 square feet on a 4,356 square foot lot, offering five parking spaces. Built in 1900 and extensively renovated in 2024, the property features two spacious three-bedroom units, each occupying a floor of this two-story building. The lower unit showcases updated bathrooms, new carpeting, stunning hardwood floors, a modern kitchen with stainless steel appliances, and luxury vinyl flooring. The upper unit also features hardwood floors and attractive wood kitchen cabinets, complemented by a private balcony. Currently operating at 100% occupancy, the property generates a pro-forma NOI of $44,086, translating to a pro-forma cap rate of 11.02%. The asking price is $399,900, or $199,950 per unit, and the price per square foot is $183.61. Conveniently situated near downtown Farmington, this property offers easy access to Route 16, shopping, dining, and major highways, with close proximity to the seacoast, lakes, and mountains. This is a stabilized, cash-flow investment opportunity with significant upside potential. The property is not subject to a ground lease.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Farmington
    County
    Strafford
    State
    New Hampshire
    Longitude
    -71.067978
    Latitude
    43.392575

    Comparable in this City

    • $275,000

      Farmington Mixed-Use Property For Sale

      Three-unit mixed-use property in Farmington's Village Center.
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      Adaptable Commercial Location on Route 11

      Highly visible commercial property with restaurant, garage, and office space.
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      Cleared Land Parcel in Farmington

      1.23-acre cleared parcel ready for your dream home.
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    • $129,900
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      3.6 Acre Lot on Route 11

      3.6-acre lot on Route 11 with business and residential potential.
      00 Nh Route 11, Farmington, NH 03835
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    • New
      $399,000
      27.00 Acres

      Expansive Wooded Land Parcel

      27-acre wooded parcel with subdivision potential and extensive road frontage.
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    Similar Nearby for Sale

    • $275,000

      Farmington Mixed-Use Property For Sale

      Three-unit mixed-use property in Farmington's Village Center.
      13 Mechanic St, Farmington, NH 03835
      View Details
    • $129,900
      156,816.00 Acres

      3.6 Acre Lot on Route 11

      3.6-acre lot on Route 11 with business and residential potential.
      00 Nh Route 11, Farmington, NH 03835
      View Details
    • New
      $399,000
      27.00 Acres

      Expansive Wooded Land Parcel

      27-acre wooded parcel with subdivision potential and extensive road frontage.
      6 Chestnut Hill Rd, Farmington, NH 03835
      View Details
    • $1,100,000
      1.38 Acres

      Adaptable Commercial Location on Route 11

      Highly visible commercial property with restaurant, garage, and office space.
      471 New Hampshire Rte 11, Farmington, NH 03835
      View Details
    • $209,900
      1.23 Acres

      Cleared Land Parcel in Farmington

      1.23-acre cleared parcel ready for your dream home.
      Richards Way, Farmington, NH 03835
      View Details

    Similar Nearby for Lease

    • $2,300 /Mo

      Renovated Apartment in Farmington, NH

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    • Contact for pricing

      Farmington, NH Route 11 Property

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      View Details
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    Farmington, NH 03835
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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