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    803 Elm St Manchester, NH 03101
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    803 Elm St Manchester, NH 03101

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    • Retail properties & Spaces
    • 14,805 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Winn Gianino, Coldwell Banker Realty Manchester NH / Real Estate Agency
    • Ofe Polack, Coldwell Banker Realty Manchester NH / Real Estate Agency
    • Market Street Settlement / Real Estate Agency
    • Doreen Berendes, Coldwell Banker Realty Bedford NH / Real Estate Agency
    • Nicole Howley Homes Group / Real Estate Agency

    Property Details for 803 Elm St

    Year built
    1915
    Property size
    14,805 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This prominent retail storefront, located at 803 Elm Street in Manchester, New Hampshire, offers 2,610 square feet of vacant space in a 14,805 square foot building. Built in 1915, the property is zoned CBD (Central Business District) within Hillsborough County and boasts a highly desirable location on one of Manchester's busiest streets. Its proximity to the SNHU Arena (two blocks away) and numerous downtown hotels makes it exceptionally convenient for both businesses and customers. The building benefits from excellent on-street parking, a significant advantage in a bustling downtown area, and is less than a block from the Center of New Hampshire parking garage, ensuring ample parking options for patrons. The property's strong tenant mix includes well-established businesses such as Thirsty Moose, Gentle Dental, Chase Bank, 110 Grill, Piccola Italian Ristorante, Moe's Italian Sandwiches, and The Bookery, creating a vibrant and attractive commercial environment. This single-tenancy retail/office space presents a unique opportunity for businesses seeking a high-visibility location in the heart of Manchester's thriving downtown. The building consists of one structure.

    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
    -71.4628
    Latitude
    42.9897

    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
      28,800 SF

      42 Bridge St

      Office Spaces • 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
      $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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