287 Milton Rd - Apartments FOR SALE


Rochester, NH 03868
$495,000 USD
603-431-1111
287 Milton Rd, Rochester, NH for Sale
$495,000 USD
Apartments - FOR SALE
1/2
null | 11.78% Cap Rate

287 Milton Rd
Rochester, NH 03868


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 with1700 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

FOR SALE DETAILS

PRICE

$495,000 USD

PRICE/SF

$164 USD /SF

# OF UNITS

2

PRICE/UNIT

$247,500

CAP RATE

11.78%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2006

PARKING SPACES

10

LAND DETAILS

LAND ACRES

1.37 AC

LAND SF

59,884 SF

ZONING

-

APN/PARCEL ID

RCHE-000201-000014

ASK ABOUT THIS PROPERTY

Andy YauRe/Max ShorelineMore Info
603-431-1111

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Andy YauRe/Max ShorelineMore Info
603-431-1111

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.