550 Amherst St Nashua, NH 03063

Property Details for 550 Amherst St

Year built

2006

Construction

STEEL FRAME

Lot size

1.83 lot acres

Property size

14,736 SF

Zone code

GB

Property type

Retail properties

APN

NASH M:H L:00646

APU

NASHMHL00646

Description

This exceptional investment opportunity presents a 48,342 square foot, 100% occupied, net-leased shopping center in Nashua, New Hampshire. The property boasts a diverse tenant mix including Walgreens, PetSmart, Charles Schwab, Crumbl Cookies, Clean Juice, and California Burritos, among others, totaling ten tenants. PetSmart recently extended its lease, demonstrating strong tenant commitment. The center features three buildings situated on a 5.4-acre lot and was constructed in 2006. The property benefits from a strategic location on Amherst Street (Route 101A), experiencing high daily traffic counts exceeding 38,900 vehicles. Its shadow anchor, Target, contributes to significant foot traffic, estimated at 1.5 million annual visits. Nashua's robust retail market, with a low 3.1% vacancy rate and no new construction, ensures sustained value. The property's strong financial performance is reflected in its Net Operating Income (NOI) of $1,100,633, with a remaining lease term of 8.1 years. All strip tenants have built-in annual rent increases or market reset options, resulting in a compound annual growth rate approaching 2.94%. The unanchored portion of the center (12,842 square feet) has seen significant leasing activity since 2021, with 7,242 square feet of new leases. This property offers a compelling combination of strong tenancy, high traffic counts, and a favorable market position, making it an ideal investment for discerning buyers. The property is situated on three separate tax parcels, providing flexibility for potential acquisition strategies.