Eight-Unit Mixed-Use
For Sale
$1,640,000
146 Lowell St 371 Spruce Street, Manchester, NH 03103
The combined holdings include commercial suites, a hair salon, and residential apartments.
Property Size7,870 SF
Price / SF$348.64
Days on Market47
Property Features for 146 Lowell St 371 Spruce Street
General Information
Standard status
Active
Size
7,870 SF
Property subtype
Residential Income
Zoning
residential
Site & Location
Neighborhood
Kalivas/ Union
Units
Unit Mix
1 x 1BR, 3 x 3BR
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$19,780
Amenities
Central Air
Forced Air, Hot Water, Electric
Finished, Full, Unfinished
Paved, On Street
Multi-Family, Victorian
Building Details
Building Size
7,870 SF
Year Built
1890
Buildings
2
Stories
3
Listing Agency:
Coldwell Banker Realty
Listed By:
Kimberly Florence
(603) 582-8513
Source:
Evrealestate
Added: Sep 16
Changed: Oct 31
Last Checked: Oct 30 at 2:35PM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This two-property offering combines a five-unit commercial building at 146 Lowell St with a three-unit triple-decker at 371 Spruce St in Manchester. Across the portfolio are three offices, a hair salon, one one-bedroom apartment, and three three-bedroom apartments. Updates have been made to the buildings, and the mix includes both commercial and residential space.
Commercial and residential tenants are in place, with tenants responsible for their own utilities. The properties may be acquired together or separately.
Commercial and residential tenants are in place, with tenants responsible for their own utilities. The properties may be acquired together or separately.
Key Highlights
- Two Manchester properties offered as a combined eight‑unit portfolio or separately
- Commercial building contains five income units at 146 Lowell St
- Three‑unit triple‑decker located at 371 Spruce St
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,479
Cap Rate
3.87%
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 3.87%
Second Best
Apartment 5plus
$844.5K
$738.9K – $985.2K
NOI $59,112 @ 7.0% cap · market cap 3.60%
Theoretical Best
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $80,862 @ 7.0% cap · market cap 4.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,176
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The combined holdings include commercial suites, a hair salon, and residential apartments.
Where is this mixed-use property located?
The property is located at 146 Lowell St 371 Spruce Street Manchester, NH.
What is the asking price?
The asking price for this property is $1,640,000.
What are key features of this property?
This property features: Two Manchester properties offered as a combined eight‑unit portfolio or separately; Commercial building contains five income units at 146 Lowell St; Three‑unit triple‑decker located at 371 Spruce St
