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Claremont-Market-Area NH Commercial Listing $500000 to $1000000
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Price Change! reduced by $300,000 down 35% on September 6th 2023
Description:GREAT INVESTMENT PACKAGE--11.8% estimated projected annual Cap Rate-now 100% occupancy, with needed siding work and HVAC upgrades being done, good condition, low maintenance (roof replaced 2018-19), town water and sewer, great parking, with potential for additional income. This 1-story building currently offers 12 office/retail units, plus 38 storage units at the basement level. Basement has a drive-in, garage door access, with room to add additional storage units. Building has a truss roof frame, which would allow floorplan alterations if needed. Projected annual NOI, with recently added tenant, estimated to be approx. $100K, using 2023 adjusted Operating Expenses, would give an 11.8 Cap Rate at current price. With room for additional basement storage units, it makes this investment prospect even more attractive. Leases are a mix of partial net and gross rents. Tenants are a mix of primarily professional offices. There are 10 propane-fired HVAC units and 9 total electric services, but not all zoned specifically for individual units, as the floorplan has changed over time. Seller will consider only PREQUALIFIED OR APPROVED BUYERS, and buyers should be prepared to offer a satisfactory financial statement/proof of funds.
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Description:Well cared for property. Huge 80'X175' Warehouse and shop with parts sections, tool section and workshop. Loading area dock. Cement floor, office area baths. Metal building built in 1976. Newer 2016 well constructed office building 40'X60' with 10 ft ceiling and a lower level walkout. Both levels are finished off very nicely. The 25 plus acres has lots of level area with plenty of room for expansion or parking, 1155 feet of frontage along John Stark Highway. Possibilities are many, develop other portions of the property. See maps, photos, present tenant pays $8,102 per month and pays all utilities. Owner pays the real estate taxes. Cost of replacing metal building $1,300,000. Cost to build in 2016 the office was $500,000. Lot's of value here! Newer septic system in 2016 for 42 employees. Over 1500 gallon septic tank. Newer well pump.