194-196 LAKE Ave 1 & 2, Manchester, NH 03103
Two-unit property with front parking, a remodeled restaurant kitchen, and long-term barber rental income potential.
- Added:
- Jun 10, 2026
- Days on Market:
- 2
- Last Refresh:
- Jun 11 at 3:24 am
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 agent Joan E Blais License #NH 005229 (603) 845-2258
Listing office Bhhs Verani Londonderry (603) 845-2258
Listing date Jun 10, 2026
Source Elliman
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
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
- Includes separate long‑term barber tenant in Unit #2 (lease covers most of building cost, per remarks)
- Buyer can purchase whole building, land, and restaurant business for $799,000; or buy restaurant business only for $275,000 and lease the building for $3,000/month with an option to buy later
Overview
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.
Local 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 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- Manchester buffet — Manchester, NH 03104
Location Insight
- Map
- Local Demand
- City
- Manchester
- County
- Merrimack
- State
- New Hampshire
- Longitude
- -71.4579841
- Latitude
- 42.9874739
