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Seabrook Real Estate Partners Acquires Multifamily Asset In Hampton New Hampshire For $31.5M

Property Image
SOLD
$31,500,000
James Stubblebine
David Stubblebine
+ 1

New Hampshire

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MultiFamily117,690 SF
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Property Image
SOLD

Seabrook Real Estate Partners Acquires Multifamily Asset In Hampton New Hampshire For $31.5M

241 Drakeside Road

See Similar Deals
MultiFamily117,690 SF
Sold
James Stubblebine
David Stubblebine
+ 1
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Summary

NEW HAMPSHIRE
Asset Type:MultiFamily
Price Per Square Foot:$267
Total Square Footage:117,690 SF
Transaction Type:Sale

The property asset involved in this transaction is a multifamily asset located at 241 Drakeside Road in Hampton, NH. The sale price for the property was $31,500,000, comprising 113 units. The total square footage of the asset is 117,690, with a price per unit of $278,761 and a price per square foot of $267.

Summary of transaction details:

This transaction was facilitated by the representatives from The Stubblebine Company, highlighting the collaborative effort of David Berman, Zack Hardy, James Stubblebine, and David Stubblebine in closing the deal for Seabrook Real Estate Partners, ensuring all aspects of the transaction were handled effectively.

Players

David Stubblebine
31 deals$313.6M volume
BROKER

James Stubblebine
The Stubblebine Company
36 deals$246.4M volume
BROKER

David Berman
The Stubblebine Company
8 deals$75.1M volume
BROKER

Zack Hardy
The Stubblebine Company
1 deal$31.5M volume(978) 758-9666
BROKER

Details

SOLD
IMAGE: Zack Hardy, David Berman, James Stubblebine & David Stubblebine DATE: 04/24/2025 ADDRESS: 241 Drakeside Road MARKET: Hampton, NH ASSET TYPE: Multifamily BUYER: Seabrook Real Estate Partners SELLER'S REP: David Berman, Zack Hardy, James Stubblebine (@James.Stubblebine) & David Stubblebine - The Stubblebine Company (@StubblebineCompanyCRE) SALE PRICE: $31,500,000 UNITS: 113 ~ PPU: $278,761 SF: 117,690 ~ PPSF: $267

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,680,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$111,912.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$149,326.07
Annual Debt Service$1,791,912.85