$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.