8 Wallace StRochester, NH 03867

Property Details for 8 Wallace St

Year built

1880

Construction

FRAME

Lot size

0.05 AC

Property size (Sq ft)

2,774 SF

Zone code

DTC

Property type

Retail properties

Property subtype

Turn key restaurants

APN

RCHE M:0120 B:0305 L:0000

APU

RCHEM0120B0305L0000

Description

This unique 3,182 sq ft mixed-use property at 8 Wallace Street in Rochester, NH, presents a compelling investment opportunity. Located on a 0.05-acre lot in the heart of downtown, this building offers exceptional versatility. The lower level, previously utilized as an ice cream shop, bakery, art studio, and bar, provides ample commercial space. The upper floors offer residential potential, with the second floor featuring beautiful hardwood floors and two bathrooms. The third floor boasts a spacious open-concept area with a bathroom and kitchenette, easily adaptable into a separate apartment. The property benefits from recent upgrades, including a partial slate roof, new plumbing, updated electrical systems, and a brand-new electrical wiring and panel for the fire alarm system. Its location in an Opportunity Zone provides access to commercial 79E tax incentives. Within walking distance of shops, restaurants, schools, and parks, this property is ideally situated in an up-and-coming area. Seller financing is available. Buyers are responsible for verifying zoning regulations and any necessary unit conversion approvals. This is a rare chance to own a live/work property with significant upside potential. The asking price is $286,000.

• CAP approach

  CAP return

  Valuation

  6%

  $674,179

  6.5%

  $622,319

  7%

  $577,868

• Comparable approach

  Method

  Valuation

  Relative Method

  $913,376

  Geo Method

  $913,376

• Alternative Use

  Use

  Valuation

  Residential

  $524,949

  Hospitality

  $480,851

  Educational

  $400,062

  Medical

  $413,821

  Retail

  $622,319

Location Insight

City

Rochester

County

Strafford

State

New Hampshire

Latitude

43.3042

Longitude

-70.9721

CBSA code

14460

CBSA name

BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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