List Price: $3,525,000 | $209 per sq.ft. Commercial
Space type
Price Change! Reduced by $175,000 down 5% on May 2nd 2024
Date Listed Thursday Feb 22, 2024 | MLS# 4985822
Space type
Price Change! Reduced by $175,000 down 5% on May 2nd 2024
Date Listed Thursday Feb 22, 2024 | MLS# 4985822
To see this Listing
Address: 119 Hanover Street Manchester NH
Listed by Matthew Lefebvre Downtown Realty
Description:
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
Listed by Matthew Lefebvre Downtown Realty
Description:
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
Features
Signage: Adequate
Signage: Adequate
Income
Net Income| 0
Management Expense: $0
Insurance Expense : $0
Net Income| 0
Management Expense: $0
Insurance Expense : $0
Construction Information:
Year Built: 1910
Steel Frame | Brick Exterior
Price Per SQ.FT. 209.46 No. of Units: 16
Building Size : 16829
Available SQFT : 11248
Building Type: Multi-Family
Year Built: 1910
Steel Frame | Brick Exterior
Price Per SQ.FT. 209.46 No. of Units: 16
Building Size : 16829
Available SQFT : 11248
Building Type: Multi-Family
ExteriorRoof: Rolled
InteriorBasement: Unfinished
Land Information
Lot size: 0.14 acres
Zoned: CBD
Flood Zone: No
Garage And Parking: On Street
No. of Docks | 0.
UtilitiesUtilities: Other
AC % | 0.
Additional Information
Docs Available : Property Disclosure
Easement - Unknown
Taxes $16,829
Assesed Value Not Reported
Docs Available : Property Disclosure
Easement - Unknown
Taxes $16,829
Assesed Value Not Reported
Schools
