Turnkey, mixed-use investment opportunity in Downtown Manchester, NH!
Retail-Commercial
for Sale
| Catylist Listing ID: |
30843861 |
| Property Subtypes: |
Mixed Use
|
| Building Size (RSF): |
16,829 SF
|
| Gross Building Area: |
See Agent |
| Sale Price: |
$3,995,000 |
| Unit Price: |
$237.39 PSF |
| Ceiling: |
10 ft. |
| Property Use Type: |
Investment |
| Usable Size (USF): |
11,248 SF |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
5/24/2023 |
Overview / Comments
|
119 Hanover Street is a turnkey, mixed-use investment opportunity positioned on the corner of Hanover and Chestnut in the heart of Manchester’s downtown. Sited within a block of major attractions such as the Hanover Street Chophouse, The Palace Theater, and several new multifamily developments, this location is second to none. This two-story brick building boasts 11 apartments (a mix of studio and 1-bedrooms), 5 retail units, and a leased billboard, all of which have seen significant renovations over the last two years. These upgrades include new electrical panels, updated unit plumbing, new high efficiency mini-splits, a new rubber roof, and a freshly painted façade. Additionally, each of the apartments have been painstakingly remodeled with high-end finishes including granite countertops, stainless-steel appliances, premium-LVP flooring, and in-unit air conditioning. The residents can also access the free high-speed wireless internet newly installed throughout the building, utilize the brand-new laundry room, and benefit from the high-resolution cameras providing interior and exterior coverage of the property. All of the commercial units are fully occupied on multi-year leases with a mix of retail and restaurant tenants. The billboard presents additional opportunity for value-add with an at-will operator that has been renting for almost three decades at a below market rate. Don’t let this opportunity to own a turnkey building in Manchester’s downtown pass you by!
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Additional Details
| Nearest MSA: |
Manchester-Nashua |
| County: |
Hillsborough |
| Tax ID/APN: |
50-29 |
| Zoning: |
CBD |
| Retail Clientele: |
General, Business |
| Largest Nearby Street: |
Elm Street Manchester, NH |
| Feet of Frontage: |
218 |
| Total Number of Buildings: |
1 |
| Number of Stories: |
2 |
| Property Condition: |
Good |
| Year Built: |
1910 |
| Year Renovated: |
2022 |
| Roof Type: |
Flat |
| Construction/Siding: |
Brick |
| Heat Type: |
Natural Gas |
| Heat Source: |
Wall Units |
| Zoning Description: |
CBD |
| Lot Frontage: |
218 ft |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
34,538 |
108,140 |
141,599 |
| Median Age: |
33.08 |
36.86 |
37.57 |
| Households: |
14,598 |
44,461 |
56,893 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither New England Commercial Property Exchange nor
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