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Multifamily

28 North Main

28 N Main St, Rochester, NH 03867

Listing Price: $1,675,000

Cap Rate
6.90%
Number of Units
9
GRM
11.23
Occupancy
100.0%
Price/Unit
$186,111

Investment Overview

Marcus & Millichap is pleased to present 28 North Main Street for sale, a mixed-use investment opportunity consisting of 7 apartments and 2 retail units located in Rochester, New Hampshire. This brick property is located directly in the downtown commerce area. Rents are currently below market and demand continues to grow as Rochester and Southern New Hampshire draw tenants from Massachusetts - attracted by the less expensive rent, lower taxes, and quality of life.

Investment Highlights

  • 6.9% Current Cap Rate | 8% Pro-Forma Cap Rate | 17.3% IRR and 3.9X Equity Multiple on 10-Year Hold
  • Highly financeable brick, mixed-use building. Low Basis of just $145 per Gross Building SF and $227 per Rentable SF – well below replacement cost
  • Rents significantly below market. Gas and Electricity separately metered and paid for by tenants

Exclusively Listed By

Broker of Record

  • Thomas Shihadeh

    Vice President/Regional Manager

    (617) 896-7220

    License(s) NH: 077795

    New Hampshire

Financing By

Multifamily

28 North Main

Listing Price: $1,675,000

Cap Rate
6.90%
Number of Units
9
GRM
11.23
Occupancy
100.0%
Price/Unit
$186,111

Investment Highlights

  • 6.9% Current Cap Rate | 8% Pro-Forma Cap Rate | 17.3% IRR and 3.9X Equity Multiple on 10-Year Hold
  • Highly financeable brick, mixed-use building. Low Basis of just $145 per Gross Building SF and $227 per Rentable SF – well below replacement cost
  • Rents significantly below market. Gas and Electricity separately metered and paid for by tenants

Investment Overview

Marcus & Millichap is pleased to present 28 North Main Street for sale, a mixed-use investment opportunity consisting of 7 apartments and 2 retail units located in Rochester, New Hampshire. This brick property is located directly in the downtown commerce area. Rents are currently below market and demand continues to grow as Rochester and Southern New Hampshire draw tenants from Massachusetts - attracted by the less expensive rent, lower taxes, and quality of life.

Exclusively Listed By

Broker of Record

  • Thomas Shihadeh

    Vice President/Regional Manager

    (617) 896-7220

    License(s): NH: 077795

    New Hampshire

Financing By

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