Mixed Use Investment Property

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30831025
Property Subtypes: Free-Standing Building, Mixed Use, Street Retail
Status: Pending
Building Size (RSF): 12,100 SF
Gross Land Area: 3,752 SF
Sale Price: $1,390,000
Unit Price: $114.88 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: 832 Elm Street
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 90
Last Updated: 3/13/2023

Overview / Comments

832-836 Elm Street is a mixed use investment property located in the heart of Manchester's downtown district that clearly shows pride of ownership. The building was built in 1872 and was tastefully renovated in 2000 preserving the original character and charm of the building. The mix of uses include two (2) ground floor retail shops, professional offices on the second/third floor and one (1) residential apartment. The building has one (1) three stop passenger elevator and a center stairwell located directly on Elm Street. This is an excellent opportunity for an owner/user to purchase and occupy a building with tenants to help pay the mortgage and expenses. Or, for a 1031 exchange buyer who enjoys hands-on management and a connection to the community. Properties like this don't come onto the market very often, 832-836 Elm Street represents an excellent opportunity for an investor looking for long term value and pride of ownership.

Included in the purchase price is all the restaurant FF&E owned by the building owner and all the common area furniture and fixtures.

Additional Details

Nearest MSA: Manchester-Nashua
County: Hillsborough
Taxing Authority: Manchester
Tax ID/APN: 153-20
Zoning: CBD
Retail Clientele: General, Family, Business
Property Located Between: Granite Street and Bridge Street
Largest Nearby Street: Elm Street
Feet of Frontage: 46
Traffic/Vehicle Count: 18,500
Highway Access: Easy highway access via Granite Street to I-293 north and south.
Airports: Manchester/Boston Regional Airport
Site Description: Property is an in-line building located on the west side of Elm Street, South of City Hall. The north corner of the building is located along "Cat Alley", a pedestrian walkway that connects Elm Street to Market Street.
Area Description: The property is located in the heart of the Central Business District (CBD) of Manchester. Elm Street is considered the financial district of Manchester and is active commercial and entertainment corridor. Nearby entertainment venues include SNHU Arena, Fisher Cats Stadium, the Palace Theatre and there are multiple local restaurants and bars within walking distance.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 3
Property Condition: Good
Year Built: 1872
Year Renovated: 2000
Roof Type: Flat
Construction/Siding: Block, Brick
Exterior Description: The property is located in the heart of the central business district with on-street parking, a pedestrian friendly sidewalk and rear alley for service deliveries and trash removal.
Parking Description: Parking is available on-street, in-front of the building, and via municipal parking garages within walking distance.
Passenger Elevators: 1
Sprinklers: None
Heat Type: Electricity, Natural Gas
Heat Source: Other
Internet Access: Cable, ISDN, Fiber Optic
Interior Description: The interior of the building has been professionally designed to preserve the architectural character of the building by incorporate historical materials and features, including tin ceilings/walls, exposed brick, original marble, brass railings and modern skylights that allow for natural lit atriums and hallways that enhance the charm and appeal of the property.
Zoning Description: Central Business District Zoning
Lot Frontage: 46
Water Service: Municipal
Sewer Type: Municipal
Legal Description: See deed for legal description

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 34,302 108,950 141,599
Median Age: 32.83 37 37.57
Households: 14,314 44,739 56,893


Photograph of Listing Agent

Mike Harrington, CRE, CCIM

Harrington & Company NECPE Member
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