37-45 Pleasant St, Claremont, NH 03743

Property Description

Introducing Baker’s Block; a distinguished three-story, 7-unit mixed-use brick building located in the heart of downtown Claremont, prominently situated on a ±0.22-acre urban lot. Positioned along one of Claremont’s primary downtown corridors, the property offers a stabilized income stream with over a 9% cap rate supported by both residential and commercial tenancy. Baker’s Block features a well-balanced unit mix consisting of four residential apartments — a combination of spacious one- and two-bedroom layouts — alongside three street-level commercial units. The property has undergone substantial renovations over the past two years, including comprehensive updates to all residential units and commercial spaces, modernizing interiors while preserving the character of the historic brick structure. Additional capital improvements include updated common areas, lead abatement in one apartment and portions of the common space, replacement windows, a new boiler, new water heaters, upgraded electrical service and panels, plumbing improvements, roof replacement, a rebuilt fire escape, and the installation of building-wide internet, security systems, and electronic locks on residential unit doors. Mechanical systems consist of a combination of forced hot water and direct-vent heating units fueled by propane, providing operational flexibility. The property also benefits from supplemental income through three leased off-site parking spaces rented to the neighboring property at 32–40 Pleasant Street for $50 per month per space, while on-site parking provides one dedicated space per residential unit with convenient trash service located within the parking area. With its recent renovations, diversified income streams, strong occupancy history, and central downtown location, Baker’s Block represents an attractive turnkey mixed-use investment opportunity. Broker Interest. Financials available upon execution of NDA.