Unique Office Space/ Event Venue w/ Three Luxury Condominiums

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30769768
Property Subtypes: Mixed Use, Restaurant, Tavern/Bar/Nightclub, Other
Status: Pending
Building Size (RSF): 11,737 SF
Gross Building Area: See Agent
Gross Land Area: 0.63 SF
Sale Price: $3,850,000
Unit Price: $328.02 PSF
Property Use Type: Vacant/Owner-User
Building Name: The Bungalow Club & Residences
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/16/2022

Overview / Comments

1 Franklin Street is a legacy, one-of-a-kind mixed-use building covering approximately 14,006 SF located in the heart of historic Exeter, New Hampshire. The property’s ground floor features a high-end, roughly, 7,700-square-foot commercial space, including outdoor covered patios designed in 2018 as a private dining and social club with a commercial kitchen, dining room and bar, living room, library, private dining, and office. Enjoy extensive outdoor gathering spaces that include covered patios, porches, fire pits, and gardens. 1 Franklin Street’s second floor is dedicated to three fully leased luxury residential apartments totaling around 6,200 square feet. The property also boasts 31 coveted parking spaces in a central downtown block. This is an unparalleled opportunity for an owner-user, pairing the robust rental income from the three apartments with a myriad of possibilities for the ground floor commercial space. Completely adaptable, explore potential opportunities such as a luxury boutique office space, exquisite event venue/restaurant, or commercial or residential condos. Additionally, the current building owner operates the exclusive catering and event company, Bungalow Club Events, which can also be sold with the property or continue as a tenant. The owner is open to selling the ground floor commercial space only – inquire for details. 1 Franklin Street is only steps away from Downtown Exeter’s finest restaurants, shops, inns, museums, and art galleries. Three blocks to the rich cultural offerings of Phillips Exeter Academy, one mile to the Amtrak train station, 15 minutes to beautiful sandy beaches and Seacoast summer living, 19 minutes to thriving Portsmouth, and 50 miles to the heart of Boston. The opportunities at 1 Franklin Street are endless. Commercial ground floor space is available for $1.75. The 3 apartments as a package at $2.1.

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Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Rockingham
Submarket/Township: Exeter
Submarket Type: Central Business District
Tax ID/APN: 072-070-0000
Zoning: C-1
Property Visibility: Excellent
Largest Nearby Street: Water Street
Total Number of Buildings: 1
Number of Stories: 3
Property Condition: Excellent
Year Built: 2018
Construction/Siding: Wood Frame
Total Parking Spaces: 32
Parking Description: 32 On site parking spaces.
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Other
Zoning Description: C-1
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Easements Description: Parking Space Easement

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,201 17,694 37,289
Median Age: 42.85 44.28 44.53
Households: 1,499 7,360 14,696


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