Two-Tenant Retail
New
For Sale
$2,550,000
217 Union St, Manchester, NH 03103
Fuel and laundry businesses operate at the property under NNN leases.
Property Size10,625 SF
Price / SF$505.95
Days on Market3
Property Features for 217 Union St
General Information
Standard status
Active
Size
10,625 SF
Property subtype
Shopping Strip
Site & Location
Neighborhood
Kalivas/ Union
Amenities
Situated at the signalized intersection of two major streets that sees ~20,000 vehicles per day
Two long term tenants who have each exercised lease renewal options, demonstrating their commitment to the site
Dependable income stream, with Weighted Average Lease Term of >7.3 Years
Both tenants on NNN leases, with landlord responsibilities limited to roof & structure
Leases include a healthy 10% admin fee to landlord above and beyond expense reimbursements
All gas station equipment is owned by the landlord, providing the ideal opportunity for an investor to transition to operating the station in the future of they desire
Located in a dense area with substantial daytime population and many multi-family residences, ideal for the business models of the current tenants
Gas station operation provides substantial tax benefit via accelerated depreciation option
Building Details
Building Size
10,625 SF
Year Built
1983
Listing Agency:
Marcus & Millichap - Boston
Listed By:
Adam Cohen · License #License(s): MA: 9551336
(617) 896-7243
Source:
Marcusmillichap
Added: Oct 30
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 Marcus & Millichap - Boston
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Investment Insights
Based on property information with market context.
This two-tenant retail property in Manchester, New Hampshire, contains a Citgo-branded gas and convenience business and a laundromat. The fuel operation has four pumps, and the laundromat is open seven days a week. The building was constructed in 1983 and measures 5,040 square feet. The landlord owns the gas station equipment; tenant responsibilities include day-to-day maintenance, while the landlord retains roof and structural obligations.
The property sits at the signalized Union and Valley Streets intersection, with access from Union Street and Merrill Street. Approximately 20,000 vehicles pass the site daily. Within five miles, the surrounding area has nearly 150,000 residents and a daytime population above 200,000.
Both businesses have operated at this location for more than a decade. The leases are NNN. Brother’s Express has no renewal options remaining, while Embassy Laundromat has one eight-year option after its lease expires in 2030.
The property sits at the signalized Union and Valley Streets intersection, with access from Union Street and Merrill Street. Approximately 20,000 vehicles pass the site daily. Within five miles, the surrounding area has nearly 150,000 residents and a daytime population above 200,000.
Both businesses have operated at this location for more than a decade. The leases are NNN. Brother’s Express has no renewal options remaining, while Embassy Laundromat has one eight-year option after its lease expires in 2030.
Key Highlights
- Two‑tenant retail property with 5,040 square feet; built in 1983
- Citgo‑branded gas and convenience business has four pumps
- Embassy Laundromat operates seven days a week
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,638
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,732,760
$1.7M
Cap Rate 7%
$1,237,686
$1.2M
Cap Rate 9%
$962,644
$962.6K
Market Conditions
NOI Build-Up for 5,040 SF
Gross rent
$121.0K $24.00/SF
− Vacancy
−$5.4K −$1.08/SF
EGI
$115.5K $22.92/SF
− OpEx
−$28.9K −$5.73/SF
NOI
$86.6K $17.19/SF
Area
Manchester, NH
Vacancy
4.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,732,760
Cap Rate 7%
$1,237,686
Cap Rate 9%
$962,644
Alternative Uses
Best Use
Specialty Retail
$1.24M
$1.08M – $1.44M
NOI $86,638 @ 7.0% cap · market cap 3.40%
Second Best
Retail
$1.03M
$904.9K – $1.21M
NOI $72,395 @ 7.0% cap · market cap 2.84%
Theoretical Best
—
—
same as Best Use
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
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,547
Businesses Nearby
151k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 56%
Shops & Services 24%
Dining 16%
Hotels & Casinos 2%
Market Basket
Groceries
56,163 visits/mo
0.4 miles
New Hampshire Liquor & Wine Outlet
Groceries
15,744 visits/mo
0.4 miles
Dollar Tree
Shops & Services
13,466 visits/mo
0.5 miles
7-Eleven
Shops & Services
13,129 visits/mo
0.1 miles
Price Rite
Groceries
12,209 visits/mo
0.5 miles
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 Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Strip mall - Fuel and laundry businesses operate at the property under NNN leases.
Where is this strip mall located?
The property is located at 217 Union St Manchester, NH.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: Two‑tenant retail property with 5,040 square feet; built in 1983; Citgo‑branded gas and convenience business has four pumps; Embassy Laundromat operates seven days a week
