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    Restored Mill Building Office Suites Title is generated by Realmo AI

    186 Granite St, Manchester, NH 03101

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    Office suites for lease in restored mill building.

    Type:Office
    Property size:
    69,850 SF
    Added:
    Jul 27, 2020
    Days on Market:
    2139
    Last Refresh:
    May 12 at 10:55 pm

    Property Features for 186 Granite St

    General Information

    Standard status
    Active
    Size
    69,850 SF
    Property subtype
    Office

    Building Details

    Year Built
    1896

    Spaces For Lease

    at 186 Granite St Contact us

    2nd Floor 2 $19/Mo

    Size
    27,150 SF
    Type
    Office
    Contact us

    3rd floor $19/Mo

    Size
    4,884 SF
    Type
    Office
    Contact us

    2nd Floor $19/Mo

    Size
    9,340 SF
    Type
    Office
    Contact us

    1st Floor $19/Mo

    Size
    28,476 SF
    Type
    Office
    Contact us

    We can help!

    Listing Contact
    Doug Martin

    Listing agent Doug Martin License #NH 065638

    Listing office Colliers - Manchester, New Hampshire

    Listing date Jul 27, 2020

    Source Crexi

    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 Colliers - Manchester, New Hampshire

    HighLights

    • Suites available from 4,884± to 69,850± SF, offering flexible space options.
    • Located in a beautifully restored mill building at the gateway to Manchester's Central Business District.
    • Features ample natural light, high ceilings, wood floors, and exposed brick and beams.
    • Offers dramatic Merrimack River and skyline views.
    • Includes on‑site parking, building signage, and loading dock access.
    • Join premier millyard companies such as Southern New Hampshire University and Texas Instruments.

    Overview

    Multiple office suites are available for lease at 186 Granite Street, a restored mill building located at the gateway to the Central Business District of Manchester, New Hampshire. The available suites range in size from 4,884 to 69,850 square feet. The suites feature ample natural light from expansive windows, high ceilings, wood floors, and exposed brick and beams. The building offers views of the Merrimack River and the city skyline. On-site parking is available, along with building signage and loading dock access. The building also includes 2 passenger elevators. The property is located in an area with other companies such as Southern New Hampshire University, DEKA Manufacturing, Texas Instruments, and CCA Global Partners.
    Property Profile Location Intelligence

    Current Use by Public Records

    Weight Lifters Warehouse (Bike/Boat/Book/etc) Store Construction Loans Manchester,NH Business Broker Hair Artistry By ... Hair Salon Crotched Mountain Foundation Social Service Agency Ring at Home Home Health Care Service

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Manchester
    County
    Merrimack
    State
    New Hampshire
    Longitude
    -71.4680916
    Latitude
    42.985228

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    FAQs

    What type of property is this?
    Office units - Office suites for lease in restored mill building.
    Where is this office units located?
    The property is located at 186 Granite St Manchester, NH.
    What is the lease rate?
    The lease rate is $19 SF/Yr.
    What are key features of this property?
    This property features: Suites available from 4,884± to 69,850± SF, offering flexible space options.; Located in a beautifully restored mill building at the gateway to Manchester's Central Business District.; Features ample natural light, high ceilings, wood floors, and exposed brick and beams.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Doug Martin
    Real Estate License ID: NH 065638
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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