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    42 Bridge St Manchester, NH 03101
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    42 Bridge St Manchester, NH 03101

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    • Retail properties & Spaces
    • 28,800 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • A & J Driving School LLC / Training Center / Vocational School

    Property Details for 42 Bridge St

    Year built
    1960
    Property size
    28,800 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional 1,591 square foot Class A office space, located at 42-44 Bridge Street in Manchester, New Hampshire, presents a unique opportunity for businesses seeking a prime location in the heart of the city. Recently renovated in 2023, this single-tenant space within a larger 28,800 square foot, two-story building offers a brand-new, energy-efficient interior with an open floor plan, easily adaptable to suit various business needs. The building, constructed in 1960, benefits from convenient on-street parking on Bridge Street and ample off-street parking in a nearby city-owned lot. Its strategic location at the intersection of Bridge and Elm Streets (US Route 3), two major commercial corridors, ensures high visibility and traffic. The property enjoys proximity to Southern New Hampshire University (SNHU), public parks, SNHU Arena, Gill Stadium, and numerous dining and retail establishments. Its adjacency to Route 3 and the I-293 on-ramp provides easy access for commuting professionals. Strong neighboring tenancies, including a hair salon and driving school, further enhance the space's visibility and appeal. Flexible lease terms are available. This is an ideal location for businesses seeking to establish or expand their presence in Manchester's thriving commercial district. Hillsborough County location, zip code 03101.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Manchester
    County
    Hillsborough
    State
    New Hampshire
    Longitude
    -71.4623
    Latitude
    42.9951

    Comparable in this City

    • Value Estimation by Request
      28,800 SF

      42 Bridge St

      Flex space • 28,800 SF
      42 Bridge St, Manchester, NH 03101
      View Details
    • Value Estimation by Request

      77 Central St

      Office For Lease
      77 Central St, Manchester, NH 03101, Manchester, NH 03101
      View Details
    • Value Estimation by Request
      14,805 SF

      803 Elm St

      Office Spaces • 14,805 SF
      803 Elm St, Manchester, NH 03101
      View Details
    • Value Estimation
      $1,690,000
      11,744 SF

      175 Queen City Ave

      DEPARTMENT STORE • 11,744 SF
      175 Queen City Ave, Manchester, NH 03101-7121
      View Details
    • Value Estimation
      $1,615,000
      14,805 SF

      801 Elm St

      DEPARTMENT STORE • 14,805 SF
      801 Elm St, Manchester, NH 03101-2103
      View Details
    • Value Estimation
      $700,000
      5,494 SF

      675 Elm St

      DEPARTMENT STORE • 5,494 SF
      675 Elm St, Manchester, NH 03101-2510
      View Details

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    Manchester, NH 03101
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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.

    More about this property
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