35 Spring StNewport, NH 03773

Property Details for 35 Spring St

Year built

1900

Lot size

1.03 AC

Property size (Sq ft)

9,117 SF

Zone code

IND I

Property type

Showrooms

APN

NWPT M:00116 B:072000 L:000000

APU

NWPTM00116B072000L000000

Description

This exceptional 12,504 square foot commercial property at 35 Spring Street in Newport, NH, presents a unique investment opportunity. Situated on a 1.03-acre lot, this historic building boasts a rich history, having housed various successful businesses including a salvage company, dance club, clothing manufacturer, and even served as the home of Hollywood star Billy B. Van. The property's versatility is undeniable, with potential uses ranging from furniture stores and manufacturing plants to car sales, convention centers, wedding venues, distribution centers, or even a restaurant. The main building offers nearly 10,000 square feet of space, complemented by a full 4,200 square foot basement with a poured concrete floor and an attached garage. An additional 8,304 square foot barn with a two-bedroom apartment is also included. The property's location just off high-traffic Route 11 ensures excellent visibility and accessibility. Ample parking is possible, with room to develop 20+ parking spaces. The seller is motivated and prefers a quick cash closing. This property represents a rare chance to acquire a substantial commercial space with significant historical character and immense redevelopment potential. Serious inquiries are welcomed, and the seller encourages creative and innovative business plans.

• CAP approach

  CAP return

  Valuation

  6%

  $2,444,228

  6.5%

  $2,256,210

  7%

  $2,095,052

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,005,936

  Geo Method

  $3,001,892

• Alternative Use

  Use

  Valuation

  Residential

  $1,903,198

  Hospitality

  $1,743,319

  Educational

  $1,450,421

  Medical

  $1,500,303

  Retail

  $2,256,210

Location Insight

City

Newport

County

Sullivan

State

New Hampshire

Latitude

43.3574

Longitude

-72.1787

CBSA code

30100

CBSA name

LEBANON, NH-VT MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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