1549 White Mountain HwyConway, NH 03860

Property Details for 1549 White Mountain Hwy

Year built

2021

Lot size

1.61 AC

Property size (Sq ft)

6,197 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a fee-simple, 6,197 square foot, two-tenant retail plaza in Conway, New Hampshire. The property, built in 2021, boasts a 100% occupancy rate with a Chipotle and an Aspen Dental as tenants. Both tenants are on net leases with corporate guarantees, minimizing landlord responsibilities. Chipotle's lease has over seven years remaining, with four five-year renewal options, while Aspen Dental's lease is a new ten-year agreement with three five-year renewal options. Rent bumps occur every five years, providing a hedge against inflation. The property sits on a 1.61-acre lot on the heavily trafficked White Mountain Highway (US Route 302/NH Route 16), adjacent to Settler's Green Outlet Village, ensuring high visibility and foot traffic. The property generates a strong net operating income (NOI) of $241,898, resulting in a 6.12% cap rate. The asking price is $3,950,000. The location benefits from strong demographics, with over 10,500 people within a five-mile radius and over 20,300 within ten miles, boasting average household incomes exceeding $89,000. Daily traffic counts on White Mountain Highway exceed 16,800 vehicles. Chipotle's modern design includes outdoor seating and a Chipotlane drive-thru, further enhancing its appeal and sales potential. This is a prime retail investment with recession-resistant tenants and significant upside potential.

Location Insight

City

Conway

County

Carroll

State

New Hampshire

Latitude

44.0214

Longitude

-71.1162

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