Multifamily Building with
For Sale
$669,000
217 Spruce Street, Manchester, NH 03103
The property offers multi-level residential space with concrete storage areas and R-2 and R-3 zoning.
Property Size5,468 SF
Price / SF$161.75
Days on Market39
Property Features for 217 Spruce Street
General Information
Standard status
Active
Size
5,468 SF
Property subtype
Residential Income
Zoning
R-2, R-3
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$7,731
Amenities
Baseboard, Hot Water
Concrete, Storage Space
Paved
Multi-Family, Multi-Level
Building Details
Building Size
5,468 SF
Year Built
1900
Stories
3
Listing Agency:
RE/MAX Synergy LLC
Listed By:
Majlinda Shishko · License #76562
(603) 657-6284
Source:
Evrealestate
Added: Sep 2
Changed: Oct 10
Last Checked: Oct 10 at 2:46AM
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 RE/MAX Synergy LLC
Investment Insights
Based on property information with market context.
This multi-level multifamily property contains 4,136 square feet and includes concrete storage space. Heating is provided by baseboard and hot-water systems, and the site has paved exterior areas. The building dates to 1900 and carries R-2 and R-3 zoning.
Situated on Spruce Street in Manchester, the property is on the right before Lincoln Street when approached from Beech Street.
Situated on Spruce Street in Manchester, the property is on the right before Lincoln Street when approached from Beech Street.
Key Highlights
- 4,136‑square‑foot multifamily property
- R‑2 and R‑3 zoning
- Multi‑level configuration with concrete storage space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,975
Cap Rate
7.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,039,500
$1.0M
Cap Rate 7%
$742,500
$742.5K
Cap Rate 9%
$577,500
$577.5K
Market Conditions
NOI Build-Up for 4,136 SF
Gross rent
$99.3K $24.00/SF
− Vacancy
−$4.8K −$1.15/SF
EGI
$94.5K $22.85/SF
− OpEx
−$42.5K −$10.28/SF
NOI
$52.0K $12.57/SF
Area
Manchester, NH
Vacancy
4.80%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,039,500
Cap Rate 7%
$742,500
Cap Rate 9%
$577,500
Alternative Uses
Best Use
Apartment 5plus
$742.5K
$649.7K – $866.3K
NOI $51,975 @ 7.0% cap · market cap 7.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.02M
$888.7K – $1.18M
NOI $71,098 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,823
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?
Multifamily property - The property offers multi-level residential space with concrete storage areas and R-2 and R-3 zoning.
Where is this multifamily property located?
The property is located at 217 Spruce Street Manchester, NH.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: 4,136‑square‑foot multifamily property; R‑2 and R‑3 zoning; Multi‑level configuration with concrete storage space
