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NH Commercial Rental Property Question

  1. #1
    Member By-Tor's Avatar
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    NH Commercial Rental Property Question


    My wife and I have been tossing around the idea of buying a commercial property in NH. Thinking about a small strip of retail suites ($500,000 +or-). Does anyone here own such a property in NH? Just wondering what the market is like at the present time. What areas should I be looking in? Any feed back would be of great help. I'll be up there this weekend at my weekend house and plan on gathering some info. I own investment property in my town in CT but my wife and I hope to move to NH within the next 10 years. Just wanted some opinions before talking to a commercial realtor.

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  2. #2
    Littering and........
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    NH Commercial Rental Property Question

    Land/property is the best investment there is. As they say, "They arent making any more of it."

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  3. #3
    Angry Gumball RandyO's Avatar
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    NH Commercial Rental Property Question

    are you looking for existing construction, or would you propose a new project?

    $500,000 won't get you very far, my single unit office is worth that.

    if you are looking to do a new project, I would "think outside of the box" strip commercial sites are looked at as fugly and sprawling by most of the local planning boards.

    with only $500k to invest, you will want to further north or away from the central arteries

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    RandyO
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  4. #4
    Super Moderator legalspeed's Avatar
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    NH Commercial Rental Property Question

    Originally posted by Mystery Squid
    You guys sound rich....wanna go out some time? I give real good head.....
    Now that's funny!

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  5. #5
    Kosher Assassin Stoneman's Avatar
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    NH Commercial Rental Property Question

    Where abouts are you looking for this property? Or is that your question (WHERE to look)?

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  6. #6
    Member By-Tor's Avatar
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    NH Commercial Rental Property Question

    Originally posted by Stoneman
    Where abouts are you looking for this property? Or is that your question (WHERE to look)?
    Yeah, where to look.

    I am interested in buying in an area that is on the rise. I have always looked at NH from the "lets go ther and have some fun" view piont rather than the money making aspect. I had seen a 2 level, 4 office building that was going for $600,000 or so a few months back (location slips my mind). I know I could call the chamber of commerce for the areas that I find properties in, but a general idea of where to start my hunt would be great.

    I have also been looking at subdevideable properties to develope (residential) in the Andover area.

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  7. #7
    Kosher Assassin Stoneman's Avatar
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    NH Commercial Rental Property Question

    If I was looking for commercial investment property right now, I'd be targeting Concord & surrounding areas (Bow, Penacook, Boscowen, Henniker, Hooksett, etc). All of 'em pretty easy access from 93 & 89 and most of 'em seem to be showing impresive signs of growth, commercially...

    For residential developments, I'd shoot for something in the southern tier of the Lakes Region and the western tier of the Seacoast Region (which are kinda one & the same) (Barnstead, Pittsfield, Gilmanton, Loudon, maybe Belmont). Those towns have seen enormous residential growth and an increase in demand, although it all seems to be levelling out a bit now. Only problems with towns like these is most of 'em have adopted some pretty drastic 'growth ordinances' to help curb the sudden influx...

    Either way, I'd be looking between like Concord & Tilton for either investment. If I could be playing 'that' game, that's exactly where I'd be targetting my search(es)...

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  8. #8
    Member By-Tor's Avatar
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    NH Commercial Rental Property Question

    Thanks Stoneman, thats what I was looking for.

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  9. #9
    Lifer Suf Daddy's Avatar
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    Hmmmmmmmmmmmm

    I'd bet further towards Lebanon would be ideal.........

    Nothing in Andover except you could start a conveience store selling beer and cheap motel rooms to Proctor Academy boys banging their GF and the occasional Colby-Sawyer slut.

    -Suf Daddy

    Originally posted by By-Tor
    Yeah, where to look.

    I have also been looking at subdevideable properties to develope (residential) in the Andover area.

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    Suf Daddy.



  10. #10
    Kosher Assassin Stoneman's Avatar
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    Re: Hmmmmmmmmmmmm

    Originally posted by Suf Daddy
    I'd bet further towards Lebanon would be ideal.........
    Yup. That area too...

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  11. #11
    Angry Gumball RandyO's Avatar
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    NH Commercial Rental Property Question

    Originally posted by By-Tor

    I have also been looking at subdevideable properties to develope (residential) in the Andover area.
    As Stoneman posted, you have to be wary of"growth control regulations" some towns actually call their growth ordinances what they are, but most don't, they disguise their growth ordinance as "environmental protection" usually with excessive wetland setbacks.

    It's getting harder to find residential zoned properties that don't have big upfront costs...... road construction & improvements.

    I am not familiar with regs in Andover area,(I did a small job in Salisbury a few years ago) My work is more in Strafford & Belknap County and ocassionally southern Carroll, eastern Merrimack and northern Rockingham counties.

    I do now some commercial and residential propereties that are available in my area

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    RandyO
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