6 Smith Ct Farmington, NH 03835
- Commercial real estate
- 2,178 SF
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 Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Farmington
- County
- Strafford
- State
- New Hampshire
- Longitude
- -71.067978
- Latitude
- 43.392575
