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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    293 Elm St Manchester, NH 03101

    • Retail properties
    • 7,696 SF
    • 0.21 lot acres
    For Lease
    View listing
    $8 SF/Yr
    Last Sale
    May 23, 2024
    $750,000
    Value Estimations
    $745,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US58-0276370
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Ornate Beauty Studio / Permanent Make-Up Clinic / Eyebrow Bar
    • Alpha Nutrition / Vitamin & Supplements Store

    Property Details for 293 Elm St

    Year built
    1900
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.21 lot acres
    Property size
    7,696 SF
    Property type
    Retail properties
    APN
    MNCH M:0166 B:000 L:0017
    APU
    MNCHM0166B000L0017

    Description

    This exceptional mixed-use building offers flexible office space in the heart of Manchester, NH's vibrant downtown. Located directly on Elm Street, this two-story, 8,700 square foot building, constructed in 1900, provides convenient access to major roadways, including I-293, and is surrounded by a thriving commercial district. The property is zoned CBD and situated in Hillsborough County. Currently, 5,000 square feet of vacant space is available for lease, offering a unique opportunity for businesses seeking a prominent location. The space is divisible, with options ranging from 2,228 square feet to a maximum contiguous space of 5,000 square feet. Two individual units are available: Unit 2, offering approximately 2,772 square feet, will be available February 1st, 2025; and Unit 3, offering approximately 2,228 square feet. Units 2 and 3 can be combined to create a larger 5,000 square foot space. The building offers convenient on-site and on-street parking. Enjoy the benefits of a central location, surrounded by established businesses such as Antiques on Elm, Market Basket, Manchester Music Mill, and Triangle Credit Union. This is an ideal opportunity to establish a presence in a bustling downtown area with high visibility and accessibility.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $750,000
      ML approach
      $750,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $732,000
      Market price range: $682k - $1.70M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,085,000
      Current use
      COMMERCIAL (GENERAL)
      $1,210,000
      Change: +11% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $1,180,000
      Change: +9% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Manchester
    County
    Hillsborough
    State
    New Hampshire
    Longitude
    -71.4627
    Latitude
    42.9822
    CBSA code
    31700
    CBSA name
    MANCHESTER-NASHUA, NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $9,026
    $107,500
    $371,100
    $478,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $555,000
      15,102 SF

      533 Elm St

      DEPARTMENT STORE • 15,102 SF
      533 Elm St, Manchester, NH 03101-2507
      View Details
    • Value Estimation
      $430,000
      16,200 SF

      341 Elm St

      DEPARTMENT STORE • 16,200 SF
      341 Elm St, Manchester, NH 03101-2708
      View Details
    • Value Estimation
      $440,000
      8,988 SF

      99 Hanover St

      DEPARTMENT STORE • 8,988 SF
      99 Hanover St, Manchester, NH 03101-2203
      View Details
    • Value Estimation
      $195,000
      2,217 SF

      25 Stark St

      DEPARTMENT STORE • 2,217 SF
      25 Stark St, Manchester, NH 03101-1983
      View Details
    • Value Estimation
      $305,000
      2,417 SF

      420 Chestnut St

      DEPARTMENT STORE • 2,417 SF
      420 Chestnut St, Manchester, NH 03101-1803
      View Details
    • Value Estimation
      $490,000
      4,293 SF

      167 Elm St

      DEPARTMENT STORE • 4,293 SF
      167 Elm St, Manchester, NH 03101-2706
      View Details

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    Similar Nearby for Lease

    • $8 SF/Yr
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      Downtown Manchester Office Space

      Prime Elm Street Office Suites, 2,228-5,000 SF
      293 Elm St, Manchester, NH 03101
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    • $20 SF/Yr
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      High-traffic retail space, prime location.
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      11,180 SF

      Prime Retail Space with Drive-Thru

      Retail space with drive-thru in densely populated Manchester neighborhood.
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      View Details
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    293 Elm St
    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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