Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Restaurant Space in Downtown Manchester Title is generated by Realmo AI

    968 Elm St, Manchester, NH 03101

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Second-generation restaurant space in the heart of downtown.

    Type:Retail
    Property size:
    3,200 SF
    Added:
    Mar 16, 2026
    Days on Market:
    58
    Last Refresh:
    Mar 19 at 8:27 pm

    Property Features for 968 Elm St

    General Information

    Standard status
    Active
    Size
    3,200 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1960

    We can help!

    Listing Contact
    Jesse Hepler, CCIM | MBA
    Jesse Hepler, CCIM | MBA

    Listing agent Jesse Hepler, CCIM | MBA License #NH 074414

    Listing office Sperry - Commercial Realty Associates

    Listing date Mar 16, 2026

    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 Sperry - Commercial Realty Associates

    HighLights

    • Prime location on Elm Street in Manchester's Central Business District
    • High visibility storefront with consistent pedestrian and vehicle traffic
    • 3,200± SF of second‑generation restaurant space
    • Proximity to SNHU Arena, The Palace Theatre, Rex Theatre, and Manchester City Hall
    • Strong foot traffic from events, performances, and daily downtown activity
    • Excellent opportunity for a restaurant or hospitality concept

    Overview

    Located along Manchester’s primary commercial corridor, the property at 968 Elm Street offers approximately 3,200 square feet of second-generation restaurant space in the heart of downtown’s Central Business District. The street-level storefront provides excellent visibility along Elm Street and benefits from consistent pedestrian and vehicle traffic. The property is ideally positioned near several of Manchester’s most active destinations, including the SNHU Arena, The Palace Theatre, Rex Theatre, and Manchester City Hall, creating strong foot traffic from events, performances, and daily downtown activity. This location offers an excellent opportunity for a restaurant or hospitality concept seeking a high-visibility presence in one of New Hampshire’s most active downtown dining and entertainment districts.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Elm Street Tavern Restaurant The Birch on Elm Restaurant

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Similar Places Nearby

    • D2Ddelivery — 500 N Commercial St, Manchester, NH 03101
    • Tidewater Catering — 250 Commercial St, Manchester, NH 03101
    • Frozen Delights — 21 Second St, Manchester, NH 03102

    Location Insight

    • Map
    • Local Demand
    City
    Manchester
    County
    Merrimack
    State
    New Hampshire
    Longitude
    -71.463435
    Latitude
    42.9918254

    Nearby Similar for Lease

    • Contact for pricing

      Furnished Corner Office in Manchester

      Furnished corner office space with amenities in downtown Manchester.
      409 Elm Street, Manchester, NH 03101
      View Details
    • Contact for pricing

      Furnished Office Suite in Manchester

      Prime Manchester location, ideal for wellness professionals. All-inclusive rent.
      707 Chestnut Street, Manchester, NH 03104
      View Details
    • Contact for pricing

      Coworking Office Space in Manchester

      Coworking office space for lease in Manchester, New Hampshire.
      409 Elm Street, Manchester, NH 03101
      View Details
    • Contact for pricing

      Highly Visible Commercial Property

      Standalone commercial property suitable for retail or office use.
      254 Beech Street, Manchester, NH 03103
      View Details
    • Contact for pricing

      Equipped Commercial Space in Manchester

      Versatile commercial space with kitchen, bars, stage, and patio.
      1181 ELM Street, Manchester, NH 03101
      View Details
    • Contact for pricing

      Turnkey Restaurant Space For Lease

      Restaurant space for lease, ready for a new food concept.
      521 Wilson Street, Manchester, NH 03103
      View Details
    • Contact for pricing

      Prime Office Space in Manchester

      Private office space with amenities in downtown Manchester's Arts District.
      66 Hanover Street, Manchester, NH 03101
      View Details
    • Contact for pricing

      Versatile Commercial Space for Rent

      Well-kept commercial space with versatile layout for retail or office.
      293 Amory St, Manchester, NH 03102
      View Details
    • Contact for pricing

      Manchester Coworking Office Suite

      Coworking office suite with included amenities in Manchester, NH.
      409 Elm St Suite 7, Manchester, NH 03101
      View Details
    • Contact for pricing

      Furnished Corner Office Suite

      Furnished coworking office suite with amenities in Manchester, NH.
      409 Elm St Suite 8, Manchester, NH 03101
      View Details
    • Contact for pricing

      Versatile Commercial Space For Lease

      Adaptable commercial space suitable for restaurant, retail, or office use.
      521 Wilson St, Manchester, NH 03103
      View Details
    • Contact for pricing

      Commercial Space in Manchester, NH

      Retail space available for lease in Manchester, New Hampshire.
      132 Orange Street, Manchester, NH 03104
      View Details

    FAQs

    What type of property is this?
    Restaurant - Second-generation restaurant space in the heart of downtown.
    Where is this restaurant located?
    The property is located at 968 Elm St Manchester, NH.
    What are key features of this property?
    This property features: Prime location on Elm Street in Manchester's Central Business District; High visibility storefront with consistent pedestrian and vehicle traffic; 3,200± SF of second‑generation restaurant space
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jesse Hepler, CCIM | MBA
    Jesse Hepler, CCIM | MBA
    Real Estate License ID: NH 074414
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    968 Elm St, Manchester, NH 03101
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!