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Property profile & analytics
OFF-MARKET
Estimated value
$735,000
Showrooms
562 Clay St Manchester, NH 03103-5118
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US58-0293554
Property summary
AI-generated overview
This exceptional redevelopment opportunity presents a vacant, 8,832 square foot, two-story building situated on a 5,227 square foot lot in Manchester, NH. Zoning approval is in place for a three-story, 14-unit residential building (7 one-bedroom, 5 two-bedroom, and 2 three-bedroom units) totaling 12,807 square feet. Phase 1 is complete, and comprehensive construction drawings are available. The property, located at 562 Clay Street, features off-street parking, bike storage, and a laundry room. The existing building, built in 1919, is currently vacant, offering immediate potential for development. The asking price is $950,000, or $67,877 per unit, and the lot consists of two adjacent parcels. The property is zoned R3 and has an APN of 264-12. This prime location in Manchester, New Hampshire's Somerville neighborhood, offers significant upside potential for investors seeking a multifamily development project with approved plans and a clear path to permit acquisition. The property is individually owned.
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1919
Construction
FRAME
Total area
8,832 SF
Lot
0.11 ac (5,000 SF)
APN
MNCH M:0264 B:000 L:0012
UPID
US58-0293554
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$700k
Blend (final)
Blend
$735k
Owner & transaction history
562 Clay St LLC · 1 yrs held
562 Clay St LLC
since 2025
Last sale
$825,000
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,020,000
Current use
WAREHOUSE, STORAGE
$840,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$735k
Range $662k – $809k · ±10% · vs last sale $825k (Feb 23 2025)
Last sale anchor
$825k
Feb 23 2025
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
$83 / 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
$7,040
Tax year 2023
Assessed value
$373,300
Assessed 2023
Previous assessed
$373,300
+0.0% YoY
Effective rate
1.89%
On assessed value
Assessed land
$102,600
Assessed improvement
$270,700
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 Sale
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1919
Construction
FRAME
Heating
STEAM
Cooling
YES
Buildings
1
Stories
2
Units
1
Total area
8,832 SF
Lot
0.11 ac (5,000 SF)
APN
MNCH M:0264 B:000 L:0012
UPID
US58-0293554
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
COMMERCIAL (GENERAL) Current
Est. value
$1.0M
WAREHOUSE, STORAGE
Est. value
$840,000
COMMERCIAL (GENERAL) Current
WAREHOUSE, STORAGE
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
1919
Construction
FRAME
Heating
STEAM
Cooling
Yes
Stories
2
Buildings
1
Units
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
562 Clay St LLC
Entity
Mailing address
19 FIELDBROOK RD, MARBLEHEAD, MA 01945-1005
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 23, 2025
$825,000
562 Clay St LLC
4j Homes LLC
Warranty Deed
$2,310,000 · Franklin Savings Bank (maine)
May 31, 2023
—
Fourj Homes LLC
—
Deed
related
$1,463,051 · Merrimack County Savings Bank
May 7, 1999
$135,000
Meika Rlty LLC
Algerd J Stark Tr
Warranty Deed
—
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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