2 Buildings on 1 lot w/ Potential to Subdivide/11.78% Potential CR
Multi-Family
for Sale
| Catylist Listing ID: |
30876370 |
| Property Subtypes: |
Duplex/Fourplex, Mixed Use, Other
|
| Building Status: |
Under Construction |
| Number of Units: |
2 Units |
| Building Size (RSF): |
3,015 SF |
| Gross Building Area: |
See Agent |
| Sale Price: |
$495,000 |
| Unit Price: |
$247,500 Per Unit |
| Property Use Type: |
Net Leased Investment (NNN), Investment, Vacant/Owner-User, Business |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
9/15/2024 |
Overview / Comments
|
Look no further, two buildings on a 1.4 acre parcel with an incredible 620 feet of frontage with potential to subdivide! The value is more in the sum of the parts. It gets sweeter from here, as the property is located on HC zoning which would potentially allow another 2-3 multifamily unit to be built. The potential cap rate stands at 11.78% as a result of low expenses, due to separate buildings, and a preferred triple net setup. The commercial building was built from ground-up in 2006 with1700 SF and it comes with some remaining restaurant equipment. Enjoy built in coolers and a bright illuminated restaurant. The possibilities are endless. Run your business while living in the 4 bedroom cape built in 1970, with 1300 square feet. As you step in, you’ll appreciate the nice kitchen that is accompanied with the beautiful hardwood floors seen throughout the first level. The home showcases its character and charm with its wood trim and elegant wood panels. in addition, the home offers an incredible backyard with great views, and it is conveniently close to the Salmon River, which is perfect for fishing bass and perch. The location is conveniently situated near the border of Maine, 30 minutes to Portsmouth and is close to major routes, restaurants, convenience stores, and more. Both buildings need some TLC.
|
Financials
| Finance Data Year |
2023 |
| Real Estate Taxes - Annual($) |
$6,335 (Annual) |
| Gross Operating Income |
$68,100 (Annual) |
| Net Operating Income |
$55,900 (Annual) |
| Actual or Proforma Year |
Proforma |
Additional Details
| Nearest MSA: |
Boston-Cambridge-Newton |
| County: |
Strafford |
| Tax ID/APN: |
0201-0014-0000 |
| Zoning: |
HIGHWAY COMMERCIAL |
| Restaurant(s) |
| Total Number of Buildings: |
2 |
| Property Condition: |
Fair |
| Number of Stories: |
2 |
| Year Built: |
2006 |
| Roof Type: |
Other |
| Parking Type: |
Surface |
| Parking Description: |
10+ parking spots |
| Sprinklers: |
Other |
| Water Service: |
Well |
| Sewer Type: |
Septic |
Demographic Statistics
| Proximity: |
3 miles |
5 miles |
| Total Population: |
8,725 |
31,102 |
| Median Age: |
40.03 |
40.04 |
| Households: |
3,359 |
12,401 |
|
© Copyright 2024 Moody's. All Rights Reserved.
The information presented herein is provided as is, without warranty of any kind.
Neither New England Commercial Property Exchange nor
Moody's assume any liability for errors or omissions.
|
