Restaurant and Banquet
347 Shattuck Way Newington, NH 03801
For Sale
Contact for pricing
Pending
Restaurant and banquet building with expansive parking, municipal utilities, and a fully equipped commercial kitchen on 6.69 acres.
Property Size16,470 SF
Lot Size6.69 Acres
Days on Market720
Property Features for 347 Shattuck Way
General Information
- Standard status
- Pending
- Size
- 16,470 SF
- Lot size
- 6.69 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1975
Listing Agency:
KW Commercial
(603) 232-8282
Listed By:
Kristine LaPorte · License #069071
Source:
Crexi
Added: Aug 5, 2024
Changed: Jul 23
Last Checked: Jul 24 at 5:45AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KW Commercial
Investment Insights
Based on property information with market context.
The seller is offering this restaurant and banquet facility for sale with seller financing available. The property includes a 16,470 SF building set up for food service operations, along with a fully equipped commercial kitchen featuring stainless steel appliances. A concrete basement provides substantial storage, and the site includes municipal utilities. The existing configuration is ready for high-volume use and can also be reconfigured to align with different operational needs.
The property is located directly off Exit 4 of the Spaulding Turnpike, with an expansive asphalt parking lot designed for customer or employee use. The site benefits from significant visibility with over 70,000 vehicles passing daily on the Spaulding Turnpike.
Additional context includes proximity to Fox Run Mall, JCPenney, and the Newington Park Shopping Center, which has been purchased for mixed-use redevelopment. The overall site provides redevelopment or transformation optionality, including potential for vertical expansion.
The property is located directly off Exit 4 of the Spaulding Turnpike, with an expansive asphalt parking lot designed for customer or employee use. The site benefits from significant visibility with over 70,000 vehicles passing daily on the Spaulding Turnpike.
Additional context includes proximity to Fox Run Mall, JCPenney, and the Newington Park Shopping Center, which has been purchased for mixed-use redevelopment. The overall site provides redevelopment or transformation optionality, including potential for vertical expansion.
Key Highlights
- 16,470 SF restaurant and banquet building on 6.69 acres, built in 1975
- Fully equipped commercial kitchen with stainless steel appliances
- Municipal utilities and a concrete basement for substantial storage
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $355.8k | $21.60 |
| − Vacancy | −$13.5k | −$0.82 |
| EGI | $342.2k | $20.78 |
| − OpEx | −$85.6k | −$5.19 |
| NOI | $256.7k | $15.58 |
16,470 SF · lease $21.60/SF/yr · vacancy 3.80% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$3.67M
$3.21M – $4.28M
NOI $256,675 @ 7.0% cap · market cap 8.70%
Second Best
Office B
$3.21M
$2.81M – $3.75M
NOI $224,902 @ 7.0% cap · market cap 7.62%
Theoretical Best
Office A
$4.41M
$3.86M – $5.14M
NOI $308,437 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Conventional restaurants
FAQs
What type of property is this?
Conventional restaurant - Restaurant and banquet building with expansive parking, municipal utilities, and a fully equipped commercial kitchen on 6.69 acres.
Where is this conventional restaurant located?
The property is located at 347 Shattuck Way Newington, NH.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 16,470 SF restaurant and banquet building on 6.69 acres, built in 1975; Fully equipped commercial kitchen with stainless steel appliances; Municipal utilities and a concrete basement for substantial storage
