This exceptional investment opportunity presents two buildings situated on a 1.4-acre lot in Rochester, New Hampshire. The property boasts 3,015 square feet of space, encompassing a 1,700 square foot commercial building constructed in 2006, and a 1,300 square foot residential building built in 1970. The commercial space, previously a restaurant, includes existing restaurant equipment such as built-in coolers. The residential building, a four-bedroom cape, features hardwood floors, wood trim, and an attractive backyard. The property is zoned Highway Commercial (HC), offering significant potential for expansion. The current zoning allows for the possibility of adding two to three more multifamily units. The property's two buildings are currently under a triple net (NNN) lease arrangement with one tenant. The asking price is $495,000, representing a compelling price per square foot of $164.18. The property generates a current NOI of $58,300, resulting in an 11.78% cap rate, and a pro-forma NOI of $55,900, yielding an 11.29% pro-forma cap rate. The property's prime location near the Maine border, 30 minutes from Portsmouth, and close proximity to major routes, restaurants, and convenience stores, further enhances its investment appeal. The substantial 620 feet of frontage adds to the property's development potential. This is a value-add opportunity with potential for subdivision.
Highlights
Two buildings on a 1.4-acre lot with subdivision potential.
Multifamily development potential.
10.16% potential capitalization rate.
Property Details
for 287 Milton Rd
Property type
Retail properties, Restaurants
Square Feet
3,015 SF
Buildings
2
Stories
2
Lot Size (sq. ft)
60,984 SF
Units
2
Location Insight
City
Rochester
County
Strafford
State
New Hampshire
Latitude
43.3749396
Longitude
-70.9863271
287 Milton Rd, Rochester, New Hampshire
Nearby Similar for Sale
For Sale
$500,000
Rochester Mixed-Use Investment
Downtown Rochester, renovated duplex, high potential.
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Contacts
Andy Yau
Visit Broker Website
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Useful Information
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287 Milton Rd, Rochester, New Hampshire, 03868
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
287 Milton Rd
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