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Property profile & analytics
FOR LEASE
Office buildings
650 Elm St, Manchester, NH 03101
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US58-0131430
For Lease
1 / 11
$29 SF/Yr
650 Elm St, Manchester, NH 03101
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Construction
STEEL FRAME
Total area
107,853 SF
Lot
0.85 ac (36,856 SF)
APN
MNCH M:0150 B:000 L:0002
UPID
US58-0131430
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
-
North American Specialty Insurance Insurance Agency
-
MEMIC Indemnity Co Insurance Agency
-
Metropolitan Life Insurance Co: Barrett Kimberly Insurance Agency
-
WBZ TV Television Studio Media Distribution
-
CBRE Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$14.56M
Comparable Approach
Comparable
$19.96M
Blend (final)
Blend
$14.87M
Owner & transaction history
650 Elm LLC · 14 yrs held
650 Elm LLC
since 2011
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$24.2M
+22.9%
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%
$15,770,000
6.5%
$14,560,000
7%
$13,520,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$19,670,000
Current use
RESTAURANT
$24,175,000
Change: +23% · Conversion: Moderate
AUTO REPAIR, GARAGE
$18,035,000
Change: -8% · Conversion: Difficult
COMMERCIAL (GENERAL)
$16,935,000
Change: -14% · Conversion: Easy
INDUSTRIAL (GENERAL)
$16,510,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$14.87M
Range $13.38M – $16.36M · ±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
$138 / 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
$200,923
Tax year 2023
Assessed value
$10,653,400
Assessed 2023
Previous assessed
$10,653,400
+0.0% YoY
Effective rate
1.89%
On assessed value
Assessed land
$1,474,900
Assessed improvement
$9,178,500
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1985
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
7
Units
17
Total area
107,853 SF
Lot
0.85 ac (36,856 SF)
APN
MNCH M:0150 B:000 L:0002
UPID
US58-0131430
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
OFFICE BUILDING Current
Est. value
$19.7M
RESTAURANT
Est. value
$24.2M
AUTO REPAIR, GARAGE
Est. value
$18.0M
COMMERCIAL (GENERAL)
Est. value
$16.9M
INDUSTRIAL (GENERAL)
Est. value
$16.5M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
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
1985
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
7
Buildings
1
Units
17
Lot
0.85 ac
Current owner
From public records · entity-resolved
650 Elm LLC
Entity
Mailing address
25 BRAINTREE HL PARK STE #408, BRAINTREE, MA 02184-8746
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2017
—
700 Elm LLC
—
Grant Deed
related
$16,000,000 · Service Cu
Aug 24, 2016
—
650 Elm LLC
—
Deed
related
$6,500,000 · Miscellaneous Ins Co
Nov 10, 2011
$8,675,000
650 Elm LLC
Nas Management INC
Deed
$6,000,000 · Rbs Citizens NA
Oct 24, 2008
—
N Dev
—
Deed Of Trust
related
$1,000,000 · Beverly National Bank
—
—
700 Elm LLC
—
Loan Modification
related
$8,000,000 · Citizens Bk
—
—
650 Elm LLC
—
Deed Of Trust
related
$6,500,000 · Miscellaneous Ins Co
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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