Four-Story Mixed-Use
For Sale
$2,150,000
303 Pine Street, Manchester, NH 03103
Downtown building combines occupied apartments with vacant street-level commercial space for additional leasing potential.
Property Size8,344 SF
Price / SF$257.67
Days on Market99
Property Features for 303 Pine Street
General Information
Standard status
Active
Size
8,344 SF
Property subtype
Commercial
Lease Term
[]
Units
Unit Mix
13 x 1BR
Multifamily Units
13
Additional Details
Public Transit
Yes
Amenities
Access to Parking
Low Pile Carpet
Building Details
Year Built
1910
Buildings
1
Stories
4
Tenancy
Multi
Listing Agency:
NAI Norwood Group
Listed By:
Deana Arden · License #069047
(603) 682-3440
Source:
Portsiderealestategroup
Added: Jul 10
Changed: Oct 11
Last Checked: Oct 14 at 11:31PM
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
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Investment Insights
Based on property information with market context.
Located at 303 Pine Street, this approximately 8,344 +/- square foot, four-story mixed-use building contains 13 one-bedroom apartments that are producing income. The property also includes an owner's office and approximately 770 +/- square feet of vacant retail or office area at street level. The office may offer conversion potential for another apartment, subject to zoning and code approvals.
The property sits in downtown Manchester within an established mixed-use setting of residential blocks, neighborhood retail, professional offices, and service businesses. Its central position provides exposure to both vehicle and pedestrian activity, with clear signage and nearby public transportation, dining, and daily amenities. The Elm Street business district, Catholic Medical Center, and the Millyard are within a short drive.
The property sits in downtown Manchester within an established mixed-use setting of residential blocks, neighborhood retail, professional offices, and service businesses. Its central position provides exposure to both vehicle and pedestrian activity, with clear signage and nearby public transportation, dining, and daily amenities. The Elm Street business district, Catholic Medical Center, and the Millyard are within a short drive.
Key Highlights
- Approximately 8,344 +/- square feet across four stories
- 13 income‑producing one‑bedroom apartments
- Approximately 770 +/- square feet of vacant street‑level retail or office space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$119,853
Cap Rate
5.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,397,060
$2.4M
Cap Rate 7%
$1,712,186
$1.7M
Cap Rate 9%
$1,331,700
$1.3M
Market Conditions
NOI Build-Up for 8,344 SF
Gross rent
$180.2K $21.60/SF
− Vacancy
−$9.0K −$1.08/SF
EGI
$171.2K $20.52/SF
− OpEx
−$51.4K −$6.16/SF
NOI
$119.9K $14.36/SF
Area
Manchester, NH
Vacancy
5.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,397,060
Cap Rate 7%
$1,712,186
Cap Rate 9%
$1,331,700
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.
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Open Analytics
Current Use
Lease Details
13
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,481
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown building combines occupied apartments with vacant street-level commercial space for additional leasing potential.
Where is this mixed-use property located?
The property is located at 303 Pine Street 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 +/- square feet across four stories; 13 income‑producing one‑bedroom apartments; Approximately 770 +/- square feet of vacant street‑level retail or office space
