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Property profile & analytics
FOR LEASE
Industrial properties
186 Granite St, Manchester, NH 03101
Individually Owned
26-yr Hold
Free & Clear
Property ID
US58-0381043
For Lease
1 / 6
$19 SF/Yr
186 Granite St, Manchester, NH 03101
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Property summary
AI-generated overview
This exceptional Manchester, NH, creative office space, located at 186 Granite Street, offers multiple suites for lease within a beautifully restored mill building. The property boasts 191,972 square feet across four stories, with a minimum divisible space of 4,884 square feet and a maximum contiguous space of 28,476 square feet. Currently, 33,360 square feet is available. Originally built in 1896 and extensively renovated in 2017, the building features high ceilings, exposed brick and beams, and abundant natural light from expansive windows. Enjoy dramatic Merrimack River and city skyline views. Amenities include two passenger elevators, on-site parking, building signage, and convenient loading dock access. The property is zoned AMX and is situated in the heart of Manchester's Central Business District, offering a prime location alongside established businesses. This unique space provides a blend of historic charm and modern functionality, ideal for a variety of creative office tenants. The building's rich history and desirable location make it an exceptional opportunity for businesses seeking a distinctive and inspiring workspace.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1896
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
147,646 SF
Lot
2.77 ac (120,829 SF)
APN
MNCH M:0274 B:000 L:0003
UPID
US58-0381043
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Weight Lifters Warehouse (Bike/Boat/Book/etc) Store
-
Construction Loans Manchester,NH Business Broker
-
Hair Artistry By Mishelly Hair Salon
-
Crotched Mountain Foundation Social Service Agency Charitable Organization
-
Ring at Home Home Health Care Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$19.90M
Comparable Approach
Comparable
$15.71M
Blend (final)
Blend
$15.22M
Owner & transaction history
Millyard Rl Manchester · 26 yrs held
Millyard Rl Manchester
since 1999
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$24.7M
+9.3%
Commercial (general)
$23.2M
+2.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Manchester submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Manchester submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$21,555,000
6.5%
$19,895,000
7%
$18,475,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$22,600,000
Current use
AUTO REPAIR, GARAGE
$24,690,000
Change: +9% · Conversion: Easy
COMMERCIAL (GENERAL)
$23,185,000
Change: +3% · Conversion: Difficult
RETAIL STORES
$20,815,000
Change: -8% · Conversion: Moderate
Blend value · Realmo final
$15.22M
Range $13.70M – $16.74M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$103 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$141,378
Tax year 2023
Assessed value
$7,496,200
Assessed 2023
Previous assessed
$8,317,200
-9.9% YoY
Effective rate
1.89%
On assessed value
Assessed land
$216,300
Assessed improvement
$7,279,900
Applied tax rate
45,140.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Lease
Year built
1896
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
STEAM
Cooling
YES
Buildings
1
Stories
4
Units
5
Total area
147,646 SF
Lot
2.77 ac (120,829 SF)
APN
MNCH M:0274 B:000 L:0003
UPID
US58-0381043
Jurisdiction
MANCHESTER CITY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$22.6M
AUTO REPAIR, GARAGE
Est. value
$24.7M
COMMERCIAL (GENERAL)
Est. value
$23.2M
RETAIL STORES
Est. value
$20.8M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1896
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
STEAM
Cooling
Yes
Stories
4
Buildings
1
Units
5
Lot
2.77 ac
Current owner
From public records · entity-resolved
Millyard Rl Manchester
Individual
Free & Clear · 26 yrs held
Mailing address
186 GRANITE ST, MANCHESTER, NH 03101-2643
Ownership since
1999
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 22, 1999
$185,000
Millyard Rl Manchester
186 Granite St LLC
One Of Committee, Strict Foreclosure, Sheriff, Or Redemption Deeds
—
Sep 1, 1998
$390,000
186 Granite St LLC
Jemma Assoc LP
One Of Committee, Strict Foreclosure, Sheriff, Or Redemption Deeds
$370,793 · Zwi Kohorn
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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