Mixed-Use Investment 8% CAP Actual Income

Office for Sale
Sale Pending/Contingent
Also listed as Multi-Family, Retail-Commercial
Catylist Listing ID: 30048997
Property Subtypes: Medical, Mixed Use, Net Leased, Office Building
Status: Pending/Contingent
Building Size (RSF): 5,970 SF
Gross Land Area: 0.38 Acres
Sale Price: $895,000
Unit Price: $149.92 PSF
Ceiling: 9 ft.
Property Use Type: Net Leased Investment (NNN), Investment
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: 8.15%
Average Occupancy Rate: 100
Last Updated: 10/23/2017

Overview / Comments

1 and 3-5 Allds St: Fully Leased, Investment with 8% CAP, based on Actual income. Freshly updated/renovated Mixed-Use, This property consists of 2 buildings, 5,970+/- SF total: a 1st floor 2,000+/- SF office/retail space with an existing lease until 2020, and 4 residential apartments, all under lease. 1 Allds St consists of a large, well-appointed 1st floor, 1 bedroom apartment with en suite bathroom and a 2nd floor, 1 bedroom, 1 bath apartment including a loft. 3-5 Allds St consists of a 1st floor, 2,000+/- office/retail space with NNN lease with a national hearing doctor’s office until 2020, and the 2nd floor has a newly updated 1 bedroom apartment and newly updated 2-bedroom apartment. Both apartments now have on-site laundry, new kitchen cabinets, counter tops, dishwasher, microwave, new flooring lighting, ect. 3-5 Allds has a full, wet-sprinkler system throughout the entire building. There is a large, private parking lot shared between the 2 buildings and the property in general is in 'above average' condition, very well maintained by the same owner for the past 16 years. This property has easy access to Route 3 from Exit 3, 4 or 5 and is right off Main St, directly across from the Hunt Community (a beautiful retirement community living complex) and close to all downtown amenities. Financial Analysis is available upon request with NDA.

Financials

Finance Data Year 2017
Real Estate Taxes - Annual($) $16,359 (Annual)
Net Operating Income $72,945 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Manchester-Nashua
County: Hillsborough
Tax ID/APN: 0009-00002
Zoning: RB URBAN RESIDENCE
Property Located Between: Main Street & Allds Street
Property Visibility: Excellent
Highway Access: Exit 3, 4 or 5 Route 3
Airports: Manchester - Boston Regional Airport
Site Description: Flat, city lot with 2 buildings and a large, shared, paved parking lot between them in the rear. Small yard, some landscaping, easy to maintain the exterior and grounds.
Area Description: Convenient to downtown Nashua, retail, hospitals, restaurants, and Route 3. Directly across the street from the Hunt Community Center, a high-profile, well maintained property.
Total Number of Buildings: 2
Number of Stories: 2
Year Built: 1900
Year Renovated: 2017
Roof Type: Gable
Construction/Siding: Vinyl Siding
Exterior Description: Very well maintained buildings with vinyl siding, newer windows and doors and high end, composite materials used for decking.
Parking Type: Surface
Parking Description: Large private shared parking lot.
Total Parking Spaces: 12
Sprinklers: Wet
Heat Type: Natural Gas, Steam
Heat Source: Central
Interior Description: Renovated 2017, many new upgrades and improvements including kitchens and bathrooms
Zoning Description: R-B Urban Residential
Water Service: Other
Sewer Type: Municipal
Easements: Other
Easements Description: Parking Easement for the two buildings to share one lot

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 19,977 87,703 128,583
Median Age: 36.16 39.35 39.38
Households: 7,912 34,542 50,261

Contact

Photograph of Listing Agent

Ronald Fredette

KW Commercial NH NECPE Member
Photograph of Listing Agent

Dave Gambaccini

KW Commercial Bedford-Manchester
NECPE Member
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