Rental Income - Route 3, Tilton

Retail-Commercial for Sale
Catylist Listing ID: 30574955
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Other
Building Size (RSF): 5,786 SF
Gross Land Area: 2.41 SF
Sale Price: $750,000
Unit Price: $129.62 PSF
Property Use Type: Investment, Vacant/Owner-User, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/18/2020

Overview / Comments

Excellent commercial opportunity located on Route 3 in Tilton, just a short distance from Exit 20. 2.41+/- acre lot, mostly level with 200+/- feet of frontage make this property stand out. Great for end user/investor. The main building is 5,786+/- SF and was the home of the successful Shiloh’s Restaurant. Many of the major kitchen components are still present – 12 Ft & 8 Ft Hood with Ansul System, dishwasher, 3 bay sink, 12 Ft Walk-In refrigerator and much more. The restaurant is air conditioned and ADA accessible. Multiple heating zones with FHA/Natural Gas. Above is a partially finished 2nd floor space which could make a great apartment with town approval. Restaurant was bringing in over $35,000/yr. rental income when leased to Shiloh’s. The barn was moved and is presently not on a permanent foundation. This could be moved and sold or pour a foundation and finish the project. Currently, there is no electricity connected. The barn is in need of renovation but has the potential to be used as a retail/office space for rental income. The 2,622+/- SF home is currently divided in 2 separate rental apartments. Unit A-1 is 3 bedroom and 2 baths; Unit B-2 is 1 bedroom and 1 bath. Rental income averages $24,000/yr. The property has Lochmere Village Water & Sewer with separate meters for the restaurant building and the house. Mixed Use zoning allows for a variety of uses. A must-see property to understand the income potential! Traffic counts of over 17,000+/- cars a day!

Additional Details

Nearest MSA: Laconia
County: Belknap
Taxing Authority: Tilton
Tax ID/APN: 000R10000007000000
Zoning: MIXED USE
Property Located Between: Exit 20 - I-93 and Winnisquam Bridge
Property Visibility: Excellent
Largest Nearby Street: Roue 3/ Laconia Road
Feet of Frontage: 200
Traffic/Vehicle Count: 17,000
Highway Access: 5 Minutes to I-93 Exit 20 in Tilton
Site Description: Large flat open area in front of buildings
Area Description: Commercial/Mixed
Tenancy: Multiple Tenants
Total Number of Buildings: 3
Number of Stories: 2
Typical SF / Floor: 5,786 SF
Property Condition: Average
Year Built: 2005
Roof Type: Gable
Construction/Siding: Wood Frame
Exterior Description: Mixed - Clapboard, Stone
Total Parking Spaces: 20
Parking Type: Surface
Parking Description: Dirt Parking Lot - Large
Heat Type: Electricity, Natural Gas
Heat Source: Baseboard, Central
Air Conditioning: Other
Zoning Description: Mixed Use
Lot Frontage: 200
Lot Depth: 599
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,019 6,668 31,648
Median Age: 43.65 42.1 42.45
Households: 441 2,733 12,982

Contact

Photograph of Listing Agent

Kevin Sullivan

Weeks Commercial NECPE Member
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