Price Change! reduced by $100,000 down 3% on March 21st 2024
$3,600,000 | $214 per sq.ft.
Commercial Property, in 119 Hanover Street Manchester NH | Space type MLS# 4985822
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Listed by Matthew LefebvreDowntown Realty on February 22nd 2024
119 Hanover Street Manchester NH 03101
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DESCRIPTION
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119 Hanover Street is a turnkey, mixed-use investment opportunity positioned on the corner of Hanover and Chestnut in the heart of Manchester's downtown. Sited within a block of major attractions such as the Hanover Street Chophouse, The Palace Theater, and several new multifamily developments, this location is second to none. This two-story brick building boasts 11 apartments (a mix of studio and 1-bedrooms), 5 retail units, and a leased billboard, all of which have seen significant renovations over the last two years. These upgrades include new electrical panels, updated unit plumbing, new high efficiency mini-splits, a new rubber roof, and a freshly painted façade. Additionally, each of the apartments have been painstakingly remodeled with high-end finishes including granite countertops, stainless-steel appliances, premium-LVP flooring, and in-unit air conditioning. The residents can also access the free high-speed wireless internet newly installed throughout the building, utilize the brand-new laundry room, and benefit from the high-resolution cameras providing interior and exterior coverage of the property. All of the commercial units are fully occupied on multi-year leases with a mix of retail and restaurant tenants. The billboard presents additional opportunity for value-add with an at-will operator that has been renting for almost three decades at a below market rate. Don't let this opportunity to own a turnkey building in Manchester's downtown pass you by!
Location : Commercial Zoning | In Town | Near Shopping | Near Public Transportatn
Building Type : Multi-Family
Sale Includes : Building
Signage-| Adequate
Traffic Count-|
Price per SQFT | 213.92 Net Income| 0
Management Expense-| $0
Insurance Expense -| $0
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FEATURES AND DETAILS
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CONSTRUCTION:
Steel Frame | Brick Exterior | Price Per SQ.FT. 213.92 | Year Built: 1910
Eevators 0
No. of Units-| 16
Building Size | 16829
Available SQFT | 11248
Basement: Unfinished
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Building Type: Multi-Family
Roof: Rolled
Garage And Parking: On Street
Utilities: Other
No. of Docks | 0.
No. of Drive Doors | 16829.
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LAND INFORMATION
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ADDITIONAL INFORMATION
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Lot size: 0.14 acres
Zoned: CBD
Flood Zone: No
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Docs Available : Property Disclosure
Taxes $16,829 | Assesed Value $892,300 in 2023 |
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