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 |
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 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither New England Commercial Property Exchange nor
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