Mixed Use Investment Opportunity in Manchester, NH

Multi-Family for Sale
Catylist Listing ID: 30872669
Property Subtypes: Mixed Use
Number of Units: 8 Units
Building Size (RSF): 5,690 SF
Gross Building Area: 7,897 SF
Gross Land Area: 0.11 Acres
Sale Price: $1,025,000
Unit Price: $128,125 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/6/2024

Overview / Comments

***Exceptional Mixed-Use Investment Opportunity - 8 Units in the Heart of Manchester** Welcome to 443 Lake Avenue & 26-30 Massabesic Street. Situated on the corner of Lake Avenue, Hall Street, and Massabesic Street, these 4 unit properties would make an excellent addition to any portfolio. 443 Lake Avenue is comprised of three apartments (two 2BD/1BA, one 1BD/1BA) and one restaurant. The restaurant is currently leased to Bangkok Kitchen, a thriving Thai Food Restaurant (a local favorite!), with a lease in place until December 2029. 26-30 Massabesic is comprised of two apartments (two 2BD/1BA) and two retail units. One retail unit is currently leased to Davina Beauty Spa, the other is rented to Bangkok Kitchen for storage. The properties are ideally situated in a location that ensures both tenant satisfaction and business success. Located across the street from Harriman Park and Lake Ave Foodmart, just 1 mile from Elliot Hospital, and a 5 min drive to all amenities Downtown Manchester has to offer. Utilities are separated for every unit across both buildings. Heat and hot water includes a variety of systems with electricity, gas, or oil as the heat source. Don't miss the opportunity to invest in this standout property where residential stability meets commercial vitality- schedule your showing today!

Financials

Finance Data Year 2024
Real Estate Taxes - Annual($) $9,581 (Annual)

Additional Details

Nearest MSA: Manchester-Nashua
County: Hillsborough
Tax ID/APN: 131-53
Zoning: B-1
Property Located Between: Harriman Park and Lake Ave Foodmart
Area Description: city lot, minutes from Manchester's downtown
Total Number of Buildings: 2
Property Condition: Average
Number of Stories: 25
Year Built: 1897
Year Renovated: 2023
Construction/Siding: Wood Frame
Exterior Description: Vinyl siding, asbestos siding, stone field & concrete foundation
Parking Type: Surface
Heat Type: Electricity, Propane, Oil
Heat Source: Baseboard, Wall Units, Other
Fuel: Gas, Oil, Electric
Zoning Description: Business Zoning B-1
Lot Frontage: 170'
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 31,058 109,268 143,642
Median Age: 33.86 37.29 37.61
Households: 12,693 44,992 57,640

Contact

Photograph of Listing Agent

Matthew Lefebvre

Downtown Realty NECPE Member
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