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Listed by Andy Yau • RE/MAX Shoreline
$495,000
Est. payment /mo
Active
289 Milton RD Rochester, NH 03867
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UPDATED:
12/01/2024 01:47 PM
Key Details
Property Type Commercial
Sub Type Investment,Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 4955431
Annual Tax Amount $7,698
Tax Year 2022
Property Description
BACK ON MARKET due to financing. Previously under contract for significantly higher. $55,000 price drop. Property price is already adjusted to reflect the work needed***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.
Location
State NH
County Nh-strafford
Area Nh-Strafford
Zoning HC
Rooms
Basement Entrance Interior
Basement Other
Interior
Inclusions Land/Building, Other
Exterior
Utilities Available Cable - Available
Building
Sewer Private
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