Active

$675,000.00

Overview

189 Broad Street, Claremont, NH 03743 is an operating men’s recovery residence located in Claremont, New Hampshire. The property is offered for sale at $675,000 and is currently operated as an NHPRR-certified recovery residence.

The building contains approximately 4,469+ square feet with 9 bedrooms and 5 bathrooms. The property is currently stabilized with a 12-bed capacity and has a documented development plan to expand to up to 30 total beds, pending completion of required fire protection system improvements.

This offering presents a value-add recovery housing opportunity. Unlike a ground-up conversion, the property is already operating, certified, and serving residents. The primary opportunity is to complete targeted life-safety upgrades that would remove the current occupancy constraint and allow the home to operate at a higher capacity.

Key property details include:

  • Address: 189 Broad Street, Claremont, NH 03743
  • Asking Price: $675,000
  • Property Type: Single-family residence converted for recovery housing use
  • Certification: NHPRR Certified
  • Current Use: Operating men’s recovery residence
  • Building Size: 4,469+ sq. ft.
  • Bedrooms: 9
  • Bathrooms: 5
  • Current Capacity: 12 beds
  • Planned Capacity: Up to 30 beds
  • Renovation Budget: $110,000
  • Total Project Cost: $785,000
  • Projected Stabilized Value: $1,250,000
  • Projected Value Creation: $465,000
  • Residential Fallback Value: Approximately $800,000

The property may be well suited for a recovery housing operator, mission-driven investor, or buyer seeking an existing compliant home with operating income and expansion upside. The offering memorandum presents the property as an established recovery housing asset with a clear path to increased capacity through targeted fire protection and compliance upgrades.

Work Needed

The property is currently operating and certified, but expansion beyond the current 12-bed capacity requires completion of life-safety improvements. The planned work is focused primarily on installing a full building fire sprinkler system and a full fire alarm system with monitoring and code-compliant notification. Additional compliance upgrades may be required through permitting and inspection, including potential work related to egress, fire-rated assemblies, emergency lighting, or other life-safety elements. The estimated development budget is $110,000, including approximately $90,000 for sprinkler and fire alarm installation and a $20,000 contingency for related compliance upgrades.