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32608632
32608633

2 DEPOT ST, PITTSFIELD, NH 03263-3347

AY
NH NH 074320, ME ME BA922374
Remax Shoreline Commercial
Listed by Remax Shoreline Commercial
$479,900
27 days on market
Updated 24 days ago

2 DEPOT ST PITTSFIELD NH 03263-3347

Details
APN U03-109-000
Property Type Retail, Multifamily (+1)
Sub Type Restaurant, Storefront (+1)
Square Footage 7,115
Net Rentable (SqFt) 100
Units 5
Cap Rate 13.50%
Occupancy 80%
Tenancy Multi
Lease Type Modified
Pro-Forma NOI $87,573
Year Built 1871
Year Renovated 2026
Buildings 1
Stories 3
Acreage 0.180
Parking Spaces 10 spaces
Parking Per SqFt 1.41
Ground Lease No

13.5% Cap Rate With Potential for Additional Units!

Marketing description

Investors, look no further for a deal of a lifetime. This large 5-unit property offers 6,769 SF of finished space with a cap rate exceeding 13.5%, along

with potential for additional units through subdivision of the commercial spaces or expansion of the existing layouts. A current storage area also presents the opportunity

for conversion into an additional unit. The interior residential units are well maintained with solid long term tenants. In the past 3 years, the largest unit has been updated

throughout, featuring a renovated kitchen with beautiful granite countertops, stainless steel appliances, and newer flooring. The bathrooms have also been remodeled

with updated tubs and vanities. The smaller one-bedroom unit offers a cozy layout and has seen updates as well, including new carpeting, along with improvements to the

kitchen and bathroom. The property’s large footprint offers the potential for 6+ additional residential units through conversion of the commercial spaces, along with the

possibility of 5+ more units in the unfinished attic — creating the opportunity for an intriguing combined 15+ unit building. Parking would be needed as required by the

town for the increased units but that can be fulfilled with the sale of the property across the street that can be purchased as a package (MLS # 5088311). Other updates

include a young roof and a young highly efficient Buderus boiler. Located in the heart of downtown Pittsfield, tenants enjoy walkable access to shops, restaurants, and

everyday conveniences in a true small-town setting. Nearby Drake Field offers outdoor recreation along the Suncook River with trails, fields, and courts. Commuting is also

convenient, with Concord under 30 minutes away and Boston & Portsmouth less than an hour.

Investment highlights

Young Roof, Buderus Boiler, Updated Units

Potential Unfinished Attic for Additional Units & potential conversions of commercial space

Potential 15+ Unit Building

Listing Contacts

AY
NH NH 074320, ME ME BA922374
Remax Shoreline Commercial
Listed by Remax Shoreline Commercial

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Additional Information

Name
Andy Yau
License
NH 074320
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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