289A Milton Rd, Rochester, NH 03868
3,015 SF | 100% Leased | Retail Building | Rochester, NH 03868 | $550,000 ($182/SF) | 10.16% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $550,000
- Property Type
-
Retail, Restaurant
- Square Feet
- 3,015 SF
- Price / Square Foot
- $182
Listing Contacts
Andy Yau
Verified Profile
- Property Info
Property Overview
Look no further, two buildings on a 1.4 acre parcel with an incredible 620 feet of frontage with potential to subdivide! The value is more in the sum of the parts. It gets sweeter from here, as the property is located on HC zoning which would potentially allow another 2-3 multifamily unit to be built. The potential cap rate stands at 10.16% as a result of low expenses, due to separate buildings, and a preferred triple net setup. The commercial building was built from ground-up in 2006 with 1700 SF and it comes with some remaining restaurant equipment. Enjoy built in coolers and a bright illuminated restaurant. The possibilities are endless. Run your business while living in the 4 bedroom cape built in 1970, with 1300 square feet. As you step in, you’ll appreciate the nice kitchen that is accompanied with the beautiful hardwood floors seen throughout the first level. The home showcases its character and charm with its wood trim and elegant wood panels. in addition, the home offers an incredible backyard with great views, and it is conveniently close to the Salmon River, which is perfect for fishing bass and perch. The location is conveniently situated near the border of Maine, 30 minutes to Portsmouth and is close to major routes, restaurants, convenience stores, and more. Both buildings need some TLC.
Property Details
- Year Built
- 2006
- Stories
- 2
- Property Subtype
- Freestanding, Storefront, Storefront Retail/Office
- Lot Size (sq. ft)
- 60,984 SF
Highlights
- Potential to subdivide with more value in the sum of the parts!
- Potential 10.16% Cap Rate
- 1.4 acre lot with 620 square feet of frontage with potential to build multifamily
- Two buildings- 2006 built commercial restaurant
- 1970 built single family cape
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