Eight-Unit Mixed-Use
For Sale
$1,675,000
146 Lowell St 371 Spruce, Manchester, NH 03103
Multi-Family, Manchester, NH
Property Size4,704 SF
Lot Size0.26 Acres
Price / SF$356.08
Days on Market25
Property Features for 146 Lowell St 371 Spruce
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
residential
Rooms
Basement
Parking features
On Street
Patio and Porch features
Porch, Deck
Exterior features
Deck, Outbuilding, Porch, Covered Porch, Enclosed Porch
Appliances
Domestic Water Heater, Oil Water Heater
Lot features
Corner
Elementary school district
Manchester Sch Dst SAU #37
Middle school district
Manchester Sch Dst SAU #37
High school district
Manchester Sch Dst SAU #37
Directions
Use GPS
Standard status
Active
Size
4,704 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
19780
Utilities
Heating system
Forced Air, Electric (Heating), Hot Water(Heating)
Cooling system
Central Air, Zoned, Ductless
Water source
Public
Building Details
Year built
1890
Floors in Building
3
Number of units
8
Flooring type
Hardwood, Carpet, Laminate
Building materials
Wood Frame
Roof type
Shingle, Flat, Membrane
Architectural style
Victorian
Additional Structures
Outbuilding
Listing Agency:
Coldwell Banker Realty Bedford NH · Coldwell Banker Real Estate
(603) 471-0777
Listed By:
Kimberly Florence
(603) 848-9559
Added: Sep 16
Changed: Oct 7
Last Checked: Oct 10 at 12:06AM
MLS# 5110186
Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Manchester package brings together two properties with eight income-producing units. One building contains five commercial units; the other is a three-unit triple-decker. The combined mix includes three offices, a hair salon, one one-bedroom apartment, and three three-bedroom apartments.
The properties can be purchased as a portfolio or individually. Commercial and residential tenants occupy the buildings, and tenants pay their own utilities.
The properties can be purchased as a portfolio or individually. Commercial and residential tenants occupy the buildings, and tenants pay their own utilities.
Key Highlights
- Two properties offered together or separately, with 8 units combined
- Commercial building includes 5 units: 3 offices and a hair salon
- Three‑unit triple‑decker with 1 one‑bedroom and 3 three‑bedroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,479
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,269,580
$1.3M
Cap Rate 7%
$906,843
$906.8K
Cap Rate 9%
$705,322
$705.3K
Market Conditions
NOI Build-Up for 4,704 SF
Gross rent
$96.0K $20.40/SF
− Vacancy
−$5.3K −$1.12/SF
EGI
$90.7K $19.28/SF
− OpEx
−$27.2K −$5.78/SF
NOI
$63.5K $13.49/SF
Area
Manchester, NH
Vacancy
5.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,269,580
Cap Rate 7%
$906,843
Cap Rate 9%
$705,322
Alternative Uses
Best Use
Multifamily LT 5
$906.8K
$793.5K – $1.06M
NOI $63,479 @ 7.0% cap · market cap 3.79%
Second Best
Apartment 5plus
$844.5K
$738.9K – $985.2K
NOI $59,112 @ 7.0% cap · market cap 3.53%
Theoretical Best
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $80,862 @ 7.0% cap · market cap 4.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
549
Businesses Nearby
Explore this area
Business Placement
Demographics for 03103, NH
38,039
Population
16,166
Households
2.4
Avg Household Size
36
Median Age
24%
College-Educated
82%
High-School Grad
9.2 sq mi
ZIP Area
4,135
Density / Sq Mi
$70,049
Median Household Income
$41,243
Median Earnings
$1,322
Median Rent
$313,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two Manchester properties combine commercial suites with residential apartments and may be acquired together or separately.
Where is this mixed-use property located?
The property is located at 146 Lowell St 371 Spruce Manchester, NH.
What is the asking price?
The asking price for this property is $1,675,000.
What are key features of this property?
This property features: Two properties offered together or separately, with 8 units combined; Commercial building includes 5 units: 3 offices and a hair salon; Three‑unit triple‑decker with 1 one‑bedroom and 3 three‑bedroom apartments
