Mixed Use Investment Opportunity in Manchester, NH
Multi-Family
for Sale
Sale Pending
| Catylist Listing ID: |
30872669 |
| Property Subtypes: |
Mixed Use
|
| Status: |
Pending |
| 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: |
$128,125 Per Unit |
| Property Use Type: |
Investment |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
7/25/2024 |
Overview / Comments
|
***Exceptional Mixed-Use Investment Opportunity - 8 Units in the Heart of Manchester** Welcome to 443 Lake Avenue & 26-30 Massabesic Street. Situated on the corner of Lake Avenue, Hall Street, and Massabesic Street, these 4 unit properties would make an excellent addition to any portfolio. 443 Lake Avenue is comprised of three apartments (two 2BD/1BA, one 1BD/1BA) and one restaurant. The restaurant is currently leased to Bangkok Kitchen, a thriving Thai Food Restaurant (a local favorite!), with a lease in place until December 2029. 26-30 Massabesic is comprised of two apartments (two 2BD/1BA) and two retail units. One retail unit is currently leased to Davina Beauty Spa, the other is rented to Bangkok Kitchen for storage. The properties are ideally situated in a location that ensures both tenant satisfaction and business success. Located across the street from Harriman Park and Lake Ave Foodmart, just 1 mile from Elliot Hospital, and a 5 min drive to all amenities Downtown Manchester has to offer. Utilities are separated for every unit across both buildings. Heat and hot water includes a variety of systems with electricity, gas, or oil as the heat source. Don't miss the opportunity to invest in this standout property where residential stability meets commercial vitality- schedule your showing today!
|
Financials
| Finance Data Year |
2024 |
| Real Estate Taxes - Annual($) |
$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 |
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 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither New England Commercial Property Exchange nor
Moody's assume any liability for errors or omissions.
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