Mixed-Use Building with
For Sale
$1,850,000
31-37 Elm Street, Manchester, NH 03101
Combines five apartments with four street-level commercial spaces near downtown Manchester.
Property Size13,998 SF
Days on Market51
Property Features for 31-37 Elm Street
General Information
Standard status
Active
Size
13,998 SF
Property subtype
Mixed-Use, 4 Street-Level Retail Units and 5 Apartments
Additional Details
Multifamily Units
5
Building Details
Building Size
13,998 SF
Tenancy
Multi
Listing Agency:
Sperry - Commercial Realty Associates
Listed By:
Joshua Solloway · License #NH #085116
(603) 289-1405
Source:
Sperrycga
Added: Aug 21
Changed: Oct 6
Last Checked: Oct 9 at 4:49PM
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 Sperry - Commercial Realty Associates
Investment Insights
Based on property information with market context.
This mixed-use building brings together five residential apartments and four retail units at street level, creating separate residential and commercial components within one property. The building was substantially reconstructed approximately ten years ago and is maintained in very good overall condition.
Several apartments are leased below prevailing Manchester asking rents, providing an identified opportunity for re-leasing or repositioning. The layout also supports consideration of owner occupancy within the residential component. Located near downtown Manchester at 31-37 Elm Street, the property offers a combination of apartment and storefront space in an established central setting.
Several apartments are leased below prevailing Manchester asking rents, providing an identified opportunity for re-leasing or repositioning. The layout also supports consideration of owner occupancy within the residential component. Located near downtown Manchester at 31-37 Elm Street, the property offers a combination of apartment and storefront space in an established central setting.
Key Highlights
- Five residential apartments and four street‑level retail units
- Substantially reconstructed approximately ten years ago
- Maintained in very good overall condition
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$156,218
Cap Rate
8.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,124,360
$3.1M
Cap Rate 7%
$2,231,686
$2.2M
Cap Rate 9%
$1,735,756
$1.7M
Market Conditions
NOI Build-Up for 13,998 SF
Gross rent
$268.8K $19.20/SF
− Vacancy
−$18.8K −$1.34/SF
EGI
$249.9K $17.86/SF
− OpEx
−$93.7K −$6.70/SF
NOI
$156.2K $11.16/SF
Area
Manchester, NH
Vacancy
7.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,124,360
Cap Rate 7%
$2,231,686
Cap Rate 9%
$1,735,756
Alternative Uses
Best Use
Retail
$2.87M
$2.51M – $3.35M
NOI $201,067 @ 7.0% cap · market cap 10.87%
Second Best
Apartment 5plus
$2.51M
$2.20M – $2.93M
NOI $175,904 @ 7.0% cap · market cap 9.51%
Theoretical Best
Specialty Retail
$3.44M
$3.01M – $4.01M
NOI $240,626 @ 7.0% cap · market cap 13.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,164
Businesses Nearby
Explore this area
Business Placement
Demographics for 03101, NH
3,885
Population
2,247
Households
1.7
Avg Household Size
35
Median Age
49%
College-Educated
92%
High-School Grad
0.8 sq mi
ZIP Area
4,856
Density / Sq Mi
$80,483
Median Household Income
$56,974
Median Earnings
$1,587
Median Rent
$418,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Combines five apartments with four street-level commercial spaces near downtown Manchester.
Where is this mixed-use property located?
The property is located at 31-37 Elm Street Manchester, NH.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Five residential apartments and four street‑level retail units; Substantially reconstructed approximately ten years ago; Maintained in very good overall condition
