Four-Story Mixed-Use Apartment
New
For Sale
$2,150,000
303 Pine St, Manchester, NH 03103
Four-story mixed-use building with 1-bedroom apartments and vacant street-level retail/office space for lease-up.
Property Size8,344 SF
Price / SF$257.67
Days on Market2
Property Features for 303 Pine St
General Information
Standard status
Active
Size
8,344 SF
Property subtype
Commercial
Units
Unit Mix
13 x 1BR
Multifamily Units
13
Building Details
Building Size
8,344 SF
Year Built
1910
Buildings
1
Stories
4
Listing Agency:
NAI Norwood Group
(617) 820-8443
Listed By:
Jessie W Gilton · License #069047
(617) 820-8443
Source:
Elliman
Added: Jul 29
Changed: Jul 30
Last Checked: Jul 30 at 7:49AM
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 NAI Norwood Group
Investment Insights
Based on property information with market context.
This four-story mixed-use apartment building includes 13 income-producing one-bedroom apartments, along with an owner’s office on-site. The owner’s office has potential to be converted into an additional apartment, subject to zoning and code approvals. Approximately 770± SF of vacant street-level retail/office space is available and may support additional lease-up and income growth. The property totals approximately 8,344± SF and was built in 1910.
Located at 303 Pine St in Downtown Manchester’s North End, the building sits directly across from the Norris Cotton Federal Building. The immediate area includes dense residential blocks plus neighborhood retail, professional offices, and service businesses, supporting walk-in demand. WalkScore is 83 (Very Walkable) and BikeScore is 62 (Bikeable).
The ground-floor retail/office space and the apartment mix provide a practical combination of residential income and commercial lease-up opportunity in a central downtown setting.
Located at 303 Pine St in Downtown Manchester’s North End, the building sits directly across from the Norris Cotton Federal Building. The immediate area includes dense residential blocks plus neighborhood retail, professional offices, and service businesses, supporting walk-in demand. WalkScore is 83 (Very Walkable) and BikeScore is 62 (Bikeable).
The ground-floor retail/office space and the apartment mix provide a practical combination of residential income and commercial lease-up opportunity in a central downtown setting.
Key Highlights
- Approximately 8,344± SF four‑story mixed‑use building
- 13 income‑producing one‑bedroom apartments
- Owner’s office with potential conversion to an additional apartment, subject to approvals
Financial Insights For 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 | $180.2k | $21.60 |
| − Vacancy | −$9.0k | −$1.08 |
| EGI | $171.2k | $20.52 |
| − OpEx | −$51.4k | −$6.16 |
| NOI | $119.9k | $14.36 |
8,344 SF · lease $21.60/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.71M
$1.50M – $2.00M
NOI $119,853 @ 7.0% cap · market cap 5.57%
Second Best
Apartment 5plus
$1.50M
$1.31M – $1.75M
NOI $104,854 @ 7.0% cap · market cap 4.88%
Theoretical Best
Specialty Retail
$2.05M
$1.79M – $2.39M
NOI $143,433 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
13
Residential units
Location Intelligence
Trade Area within ½ mile
1,226
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Four-story mixed-use building with 1-bedroom apartments and vacant street-level retail/office space for lease-up.
Where is this apartment building located?
The property is located at 303 Pine St Manchester, NH.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Approximately 8,344± SF four‑story mixed‑use building; 13 income‑producing one‑bedroom apartments; Owner’s office with potential conversion to an additional apartment, subject to approvals
