Remodeled Restaurant and Barber
194-196 LAKE Ave 1 & 2 Manchester, NH 03103
For Sale
$799,000
Two-unit property with front parking, a remodeled restaurant kitchen, and long-term barber rental income potential.
Property Size3,750 SF
Price / SF$213.07
Days on Market48
Property Features for 194-196 LAKE Ave 1 & 2
General Information
Standard status
Active
Size
3,750 SF
Property subtype
Commercial
Building Details
Year Built
1958
Listing Agency:
BHHS Verani Londonderry
(603) 845-2258
Listed By:
Joan E Blais · License #NH 005229
(603) 845-2258
Source:
Elliman
Added: Jun 10
Changed: Jul 10
Last Checked: Jul 27 at 10:56AM
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 BHHS Verani Londonderry
Investment Insights
Based on property information with market context.
This for-sale property includes Unit #1 operating as a restaurant with seating for 45, focused on take-out and delivery. The building and restaurant space have been remodeled, and the restaurant comes with brand new equipment, including a new stainless-steel kitchen and a state-of-the-art exhaust fan. Unit #2 is occupied by a long-term barber, providing rental income. The offering is structured as real estate plus the restaurant business, along with the barber rent associated with the second unit.
The property includes land and a parking area in front. The building is described as 3,750 square feet. The listing notes a mixed-use setup that supports the existing food concept, with a mainly hot chicken restaurant operation and stated suitability for other food uses. WalkScore 83 and BikeScore 62 are provided in the remarks.
Buyers may purchase the entire building, land, and the restaurant business, or alternatively acquire the restaurant business only (including equipment) and lease the building for $3,000 per month with an option to buy the building later. The listing also references MLS #5090721 for the business-only option. For operators seeking a turn-key restaurant setup with in-place equipment and a second tenant, this configuration offers a practical, income-supported platform within a two-unit building.
The property includes land and a parking area in front. The building is described as 3,750 square feet. The listing notes a mixed-use setup that supports the existing food concept, with a mainly hot chicken restaurant operation and stated suitability for other food uses. WalkScore 83 and BikeScore 62 are provided in the remarks.
Buyers may purchase the entire building, land, and the restaurant business, or alternatively acquire the restaurant business only (including equipment) and lease the building for $3,000 per month with an option to buy the building later. The listing also references MLS #5090721 for the business-only option. For operators seeking a turn-key restaurant setup with in-place equipment and a second tenant, this configuration offers a practical, income-supported platform within a two-unit building.
Key Highlights
- Two‑unit building built in 1958 with front parking and mixed‑use setup
- Brand new stainless‑steel restaurant kitchen plus state‑of‑the‑art exhaust fan
- Remodeled restaurant building with 3,750 sq ft (Unit #1) and seating for 45
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 | $90.0k | $24.00 |
| − Vacancy | −$4.1k | −$1.08 |
| EGI | $86.0k | $22.92 |
| − OpEx | −$21.5k | −$5.73 |
| NOI | $64.5k | $17.19 |
3,750 SF · lease $24.00/SF/yr · vacancy 4.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$920.9K
$805.8K – $1.07M
NOI $64,463 @ 7.0% cap · market cap 8.07%
Second Best
Retail
$769.5K
$673.3K – $897.8K
NOI $53,865 @ 7.0% cap · market cap 6.74%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Manchester buffet — Manchester, NH 03104
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Two-unit property with front parking, a remodeled restaurant kitchen, and long-term barber rental income potential.
Where is this conventional restaurant located?
The property is located at 194-196 LAKE Ave 1 & 2 Manchester, NH.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑unit building built in 1958 with front parking and mixed‑use setup; Brand new stainless‑steel restaurant kitchen plus state‑of‑the‑art exhaust fan; Remodeled restaurant building with 3,750 sq ft (Unit #1) and seating for 45
