For Sale
$2,074,074

178 County RdNew London, NH 03257

Prime NH bank, 5,600 SF, strong NOI.

Overview

Added:
Dec 11, 2024
Days on market:
119
This exceptional investment opportunity presents a fee-simple ownership of a 5,600-square-foot, two-story bank building situated on a 0.92-acre lot in New London, New Hampshire. Built in 1965 and renovated in 2015, the property boasts a 100% occupancy rate with a corporate-guaranteed, absolute NNN lease in place. The current tenant, a well-established community bank, has occupied the location for over 23 years and is committed to a new 15-year lease with ten 5-year renewal options. This lease structure includes attractive 10% rent increases every five years, providing a strong hedge against inflation and significant long-term revenue growth. The property generates a substantial net operating income (NOI) of $140,000, resulting in a compelling 6.75% cap rate. The strategic location at the intersection of Newport Road and County Road places the property within a thriving commercial center, benefiting from high visibility and significant daily traffic counts exceeding 9,300 vehicles. Proximity to major amenities, including New London Hospital (0.2 miles), Colby-Sawyer College (1.5 miles), and Interstate 89 (2 miles), further enhances the property's value and appeal. The surrounding area features a robust retail environment, anchored by well-known national and regional brands, and a strong demographic profile with high average household incomes within a 10-mile radius. This is a truly passive investment opportunity with zero landlord responsibilities, offering exceptional stability and potential for significant returns. The asking price is $2,074,074.

Highlights

  • 15-year Absolute NNN lease with Ledyard National Bank, established tenant since 2000, including ten 5-year renewal options.
  • 10% rent increases every five years throughout the base term and option periods.
  • Absolute NNN lease; zero landlord responsibilities.
  • High-visibility location at the intersection of Newport Road and County Road in New London, across from Hannaford supermarket, near New London Hospital and Colby-Sawyer College.
  • Strong demographics: over 9,300 vehicles pass daily, 8,700+ residents within 5 miles ($137,295 avg. household income), and 26,900+ within 10 miles ($127,393 avg. household income).
  • Supported by nearby New London Hospital (Critical Access Hospital), Colby-Sawyer College, and numerous retailers including Hannaford, Ace Hardware, and several banks.

Property Details for 178 County Rd

Property type
Retail properties, Banks
Square Feet
5,600 SF
Year Built/Renovated
1965/2015
Buildings
1
Stories
2
Lot Size (sq. ft)
40,075 SF
Units
1

Location Insight

City
New London
County
Merrimack
State
New Hampshire
Latitude
43.4233052
Longitude
-72.0002633
178 County Rd, New London, New Hampshire

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178 County Rd
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