283 Willow St Manchester, NH 03103-5727

Property Details for 283 Willow St

Year built

2004

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.46 lot acres

Property size

2,070 SF

Property type

Warehouses

APN

MNCH M:0299 B:000 L:0027

APU

MNCHM0299B000L0027

Description

This exceptional investment opportunity presents a fee-simple ownership of a 2,070 square foot Jiffy Lube located at 283 S Willow St, Manchester, NH 03103. The property sits on a 0.46-acre lot and boasts a prime corner location, ensuring high visibility and accessibility from both S Willow St and Alpheus St. Built in 2004, this single-story building is currently 100% occupied under an absolute NNN lease with a franchisee tenant. The lease, recently extended, has a remaining term of 8.9 years, expiring October 31, 2033, and includes 10% rent bumps every five years. The current asking price is $1,624,000, generating a Net Operating Income (NOI) of $105,600 and a 6.50% cap rate. The tenant, a highly reputable operator with over 100 locations, demonstrates strong financial stability and commitment to the location. This investment offers significant advantages, including a long-term lease with built-in rent increases, minimal landlord responsibilities due to the absolute NNN lease structure, and a location within a densely populated area (approximately 101,000 people within a 3-mile radius). The quick lube sector's resilience to economic downturns further enhances the investment's appeal. This property represents a secure and potentially lucrative investment opportunity in a thriving market. Note: Consult with your tax professional regarding potential tax benefits.

Location Insight

City

Manchester

County

Hillsborough

State

New Hampshire

Longitude

-71.4539

Latitude

42.9694

CBSA code

31700

CBSA name

MANCHESTER-NASHUA, NH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments