Investment property - Manchester, NH

Retail-Commercial for Sale
Catylist Listing ID: 30622005
Property Subtypes: Convenience Store, Free-Standing Building, Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub, Other
Building Size (RSF): 11,248 SF
Gross Building Area: 16,827 SF
Gross Land Area: 0.14 Acres
Sale Price: $1,600,000
Unit Price: $142.25 PSF
Property Use Type: Investment
Usable Size (USF): 11,248 SF
Sale Terms: Cash to Seller
Cap Rate: 9.4%
Last Updated: 6/17/2020

Overview / Comments

INVESTMENT - Hard to find mixed use investment property with over $200,000 in gross rental income and $171,000 in net income. Continually running solid income producer with 16 units and additional income producing unit in form of billboard. Property has 11 residential units with mix of efficient one bedrooms and large over-sized one bedrooms. The commercial units have a nice mix of retail users as well as infrastructure of long-standing restaurants. Easily managed extra income comes from rooftop billboard. Building is conveniently located on corner of Chestnut and Hanover Street right in the heart of Manchester commercial and office areas. Many new systems and recent improvements. Easy to rent units and good expenses. This is an excellent investment at $1,600,000. Non-disclosure agreement needed for delivery of full financials and most updated rental information.

Financials

Finance Data Year 2020
Real Estate Taxes - Annual($) $16,415 (Annual)
Potential Rental Income $201,000 (Annual)
Net Operating Income $171,186 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Manchester-Nashua
County: Hillsborough
Tax ID/APN: 50-29
Zoning: MIXED COMMERCIAL (CBD)
Retail Clientele: General, Family, Business, Traveler, Tourist, Convention, Other
Property Located Between: Hanover and Chestnut Streets
Property Visibility: Excellent
Largest Nearby Street: Route 28
Feet of Frontage: 210
Traffic/Vehicle Count: 9,100
Highway Access: I-293 and I-93
Airports: Boston - Manchester Regional Airport
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 5,555 SF
Property Condition: Good
Parking Type: Other
Parking Description: Plenty of parking all around the building
Sprinklers: None
Heat Type: Electricity, Natural Gas
Heat Source: Baseboard, Central, Wall Units
Air Conditioning: Window Unit, Other
Internet Access: Cable
Zoning Description: CBD (Central Business District)
Lot Frontage: 210
Water Service: Municipal
Sewer Type: Municipal

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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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