Pembroke, NH Tinkham Realty, Inc. completed the sale of 231 Mass Rd.
The sale consists of a five unit mobile home park, a Cape-style home and 50 acres with 2,100 ft. on the Suncook River, zoned residential.
Jerry Hersch of the commercial division of Tinkham Realty represented the seller Red Quill Development, LLC and Stephan Morrissey of Allison Estate and Homes represented the buyer, 76-80 Terrace Road, LLC.
The sale price according to the Merrimack Registry of Deeds was $525,000.
The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units.
As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.