Sawyer Heights

Multi-Family for Sale
Catylist Listing ID: 30458706
Property Subtypes: High-Rise
Building Status: Proposed
Number of Units: 220 Units
Building Size (RSF): 200,000 SF
Gross Building Area: See Agent
Gross Land Area: 6.61 Acres
Sale Price: $3,000,000
Unit Price: $13,636.36 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 8.98%
Last Updated: 9/11/2019

Overview / Comments

This mixed use, large assemblage, development site for commercial and Residential use is in the Commercial Zone in Downtown Rochester, NH and can best utilize the Opportunity Zone designation in the Seacoast Region. This site also has additional tax incentive opportunities located in a 79E Area & ERZ as well. The site is large enough to accommodate over 200 residential units and a significant amount of commercial space on the first floor. Located along the Willow Brook, it is a fantastic place to live and is located within a few minute walk of the Frisbee Hospital.

Rochester has seen a positive growth in population and rental rates over the last 5 years. With additional 5,000 jobs being added to the overall Seacoast over the next 18 months to two years, this community is in a great location with tremendous growth potentials. Additionally, is is located within 1 mile to Route 108, Route 125, Route 202, and Spaulding Turnpike.

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Strafford
Tax ID/APN: 0125-0085-0000
Zoning: DOWNTOWN COMMERCIAL
Site Description: South Main St. on Route 108 with close proximity to Wentworth Douglas, Downtown, and Spaulding Turnpike. It is in a 79E Tax Incentive Area, Downtown Economic Revitalization Zone, and Opportunity Zone. The traffic count off of S Main St is 16,603.
Area Description: Rochester is a picturesque city positioned just north of Portsmouth on the Maine state line. Tracing its roots back to the 1720s, the city is home to an amazing assortment of historic architecture, with the classic New England style creating a timeless atmosphere. Rochester Common has traditionally served as the anchor of the community, and today hosts the popular Rochester Farmers’ Market. Along Main Street, you’ll find a vibrant collective of locally-owned businesses, from hip hangouts like Fresh Vibes and Revolution Taproom to unique specialty shops like Jetpack Comics and Sweet Peach’s Candy & Confections. Much of the surrounding landscape is sparsely developed, with the lush forests and rolling hills providing gorgeous scenery as well as endless opportunities for outdoor exploration.
Number of Stories: 5
Year Built: 2020
Total Parking Spaces: 280
Fuel: Gas, Propane
Air Conditioning: Other
Zoning Description: Downtown Commercial
Lot Frontage: 550
Lot Depth: 900
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,882 25,924 47,804
Median Age: 37.79 40.64 40.46
Households: 3,644 10,769 19,393
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