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160 Amory St Manchester, NH 03102

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For Sale
$1,499,000

Brick 8-unit property with commercial and residential spaces.

Lot size:
0.25 Acres

Property Features for 160 Amory St

General Information

Property type
Investment
Standard status
Active
Lot size
0.25 Acres

Building Details

Year built
1880

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Listing Contact
Christopher Evans
Source: Elliman

Listing Agent: Christopher Evans

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Westside Mixed-Use Investment Opportunity

Located on the westside, this brick building features a mix of residential and commercial units. It includes two 3-bedroom apartments equipped with appliances and washer/dryer hookups, along with six commercial units. The property has undergone significant rehabilitation in recent years, both on the exterior and interior, and features new windows. The second-floor tenant is responsible for their electric bill, while the third-floor unit, which has been recently renovated, pays for electric, hot air heat, and hot water. The commercial tenants cover their own electric and hot water expenses; the seller heats five of the commercial units with a newer gas furnace, while the laundromat pays for its own heat. The property benefits from long-term ownership and tenancy, presenting an opportunity to increase rents. Two commercial units have recently become vacant, with one having been recently remodeled, making it suitable for an owner-user or for lease. Potential uses for the commercial spaces include a restaurant, smoke shop, or office. The building's exterior is constructed of brick and aluminum siding. The commercial units currently house a laundromat, pizza/bakery, church, and karate/gym, with two units currently vacant. The property is presented as a good investment opportunity, offering a 6.9% cap rate on a $103,000 net.
Location Intelligence

Current Use by Public Records

Spacuma Beauty (Bike/Boat/Book/etc) Store

Suggested Use

Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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City
Manchester
County
Merrimack
State
New Hampshire
Longitude
-71.4773631
Latitude
42.9931644

FAQs

What type of property is this?
Mixed-use property - Brick 8-unit property with commercial and residential spaces.
Where is this mixed-use property located?
The property is located at 160 Amory St Manchester, NH.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: - Boasting a 6.9% Cap rate on $103K net income.; - Eight units total: two residential (3-bedroom apartments with appliances and W/D hookups) and six commercial units.; - Value-add opportunity: Rents can easily be raised.
More about this property
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