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Property profile

161 N State St Concord, NH 03301

Banks
Property ID
US58-0394351
View Sample
10,740 SF 1.78 ac lot Built 1966
Trust Owned 6-yr Hold ~ Est. High Equity

Property summary

AI-generated overview

This exceptional commercial property at 161 North State Street in Concord, NH, offers 24,200 square feet of versatile space ideally suited for a variety of businesses. Situated at a highly visible, lighted intersection just north of Concord's downtown area, this property boasts significant street-level exposure. The building's previous use as a bank provides a unique advantage, featuring existing bank-style fixtures including a tellers' area, spacious public area, private offices, and conference rooms. This ready-to-occupy layout minimizes upfront renovation costs and allows for immediate business operations. A separate rear space offers additional potential for smaller retail use or expansion. Beyond the main level, a full 10,000-square-foot basement is available for lease at $5.00 per square foot, contingent upon leasing the upper floor. This lower level provides ample storage and is well-suited for classroom or training room use. The property also includes a substantial lighted parking lot, a landscaped green area, and a convenient drive-through teller port, enhancing both customer and employee convenience. The 1.48-acre lot provides ample space and opportunities. The asking price for the main level is $18,000,000. This property presents a rare opportunity to secure a prime commercial space in a thriving New Hampshire city.

Property profile

Verified
Property type Banks
Use group FINANCIAL BUILDING
Year built 1966
Construction STEEL FRAME
Total area 10,740 SF
Lot 1.78 ac (77,537 SF)
Zoning code CU
APN CNCD M:583Z B:30
UPID US58-0394351

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Atm

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$480k
CAP Approach CAP
by Request
Comparable Approach Comparable
$762k
Blend (final) Blend
$620k

Owner & transaction history

since 2020
1 recorded transaction
2020
$1.1M

Zoning & alternative use

CU · Concord, NH
Zoning description

The Urban Commercial (CU) District is established to recognize areas adjacent to the downtowns of Concord and Penacook as well as proximate to Downtown Residential Districts, within which are permitted a mixture of offic…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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