289 Milton RdRochester, NH 03868

Property Details for 289 Milton Rd

Lot size

1.40 AC

Property size (Sq ft)

3,015 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional mixed-use property in Rochester, NH, presents a compelling investment opportunity. Situated on a 1.4-acre lot with 620 feet of highway frontage, the property boasts two buildings: a 1,700 sq ft commercial building constructed in 2006, featuring restaurant equipment including coolers, and a 1,300 sq ft residential building built in 1970. The commercial building is currently vacant, offering immediate potential for lease income. The property's Highway Commercial zoning allows for potential subdivision and the addition of 2-3 multifamily units, significantly increasing the property's value. The current NOI is $58,300, yielding a potential cap rate of 11.78%, with a pro-forma NOI of $55,900 and a pro-forma cap rate of 11.29%. The asking price is $495,000, translating to $164.18 per square foot. The property features a triple net (NNN) lease structure with a one-year remaining lease term. The residential building offers a 4-bedroom layout with hardwood floors and wood trim, and a large backyard. Its proximity to major routes, amenities, and the Salmon River adds to its appeal. This property offers a unique blend of immediate income potential and significant long-term development opportunities. The total square footage is 3,015 net rentable square feet.

Location Insight

City

Rochester

County

Strafford

State

New Hampshire

Latitude

43.3753

Longitude

-70.9864

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