Beyond the lake, the river flows south to the village of Chocorua with a picturesque mill dam, then continues into the flat, sandy Ossipee Lake region, reaching the Bearcamp River at West Ossipee.

New Hampshire Route 16 parallels the Chocorua River for most of its length.

In the early 20th century, innkeepers purchased the granite mill dam at the southern end of Moore's Pond on the river in Chocorua village.

In 1912, the owners of the Chocorua Inn converted the mill dam into a hydroelectric operation hoping to supply energy to part of the town.

As the eastern portion of the dam was breached, the levee broke and released two thirds of the pond in a few hours, causing the water level to drop 15 feet (4.6 m) and allowing former marshlands to thrive again.