49 Market StSomersworth, NH 03878

Property Details for 49 Market St

Year built

1828

Construction

FRAME

Lot size

0.29 AC

Property size (Sq ft)

9,444 SF

Zone code

BH

Property type

Commercial real estate

APN

SMSW M:11 B:78 L:0

APU

SMSWM11B78L0

Description

This exceptional 9,444 square foot former church, located at 49 Market Street in the heart of Somersworth, NH, presents a unique investment opportunity. Completely renovated and in excellent condition, the property boasts significant updates including a new electrical system, updated HVAC, ADA-compliant bathrooms, and a fully equipped commercial kitchen. Currently operating as a successful function hall, "The Hall at Great Falls," it's approved for occupancy of 300 people and has a food service license and state-approved liquor license. The first floor features a large commercial kitchen, a versatile meeting/function space, and ample restroom facilities. The second floor offers a spacious, three-story open function area with beautiful wood floors, large windows, a stage, a bar, and two bathrooms. The third floor includes a balcony and two private rooms. The building also includes a fire sprinkler system for safety. While the property itself has two parking spaces on its 0.29-acre lot, the city permits street parking and the use of nearby GE parking for events. This versatile property is ideal for a variety of uses, offering significant potential for continued success as an event venue or for adaptive reuse. Its central location and extensive recent upgrades make it a truly remarkable opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $1,769,560

  6.5%

  $1,633,440

  7%

  $1,516,760

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,233,950

  Geo Method

  $1,233,950

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,215,870

  Retail / Commercial

  $1,649,080

  Mixed-Use / Specialty

  $1,643,200

  Hospitality / Lodging

  $1,205,560

  Office

  $1,633,440

  Institutional / Educational

  $1,708,270

  Residential Income

  $1,998,670

  Multifamily

  $2,397,100

  Automotive / Energy

  $1,464,230

  Parking / Income-Based Land

  $505,287

  Restaurant / Food Service

  $854,641

  Healthcare / Senior Housing

  $1,685,070

Location Insight

City

Somersworth

County

Strafford

State

New Hampshire

Latitude

43.264

Longitude

-70.8643

CBSA code

14460

CBSA name

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

Property Tax & Assessments

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