76 Summer St, Manchester, MA 01944-1530
- Office buildings
- 7,448 SF
- 0.37 lot acres
Current Use by Public Records
- Office buildings
Property Details for 76 Summer St
- Year built
- 1900
- Construction
- STEEL FRAME
- Lot size
- 0.37 lot acres
- Zone code
- G
- Property type
- Office buildings
- APN
- MANC M:0047 B:0000 L:0008
- APU
- MANCM0047B0000L0008
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Nov 19, 2019 | — | Murray,paul J Trust | Paul J Murray | Quit Claim Deed · related | — |
| — | — | Laura A Dwyer | — | Deed Of Trust · related | $21k · First Ipswich Bk |
Description
This exceptional 16,200 square foot office building presents a unique investment opportunity in Manchester, MA. Situated on a 0.37-acre lot, this property boasts over 19 parking spaces and is conveniently located less than two-tenths of a mile from the town center and commuter rail. Currently generating an estimated $156,000 in annual rental income, the building offers significant upside potential. The adaptable floor plan caters to various office configurations, while a large unfinished lower level provides ample space for storage, shipping, or workshop uses. This versatile property also presents exciting redevelopment possibilities. Architectural plans and renderings for a potential luxury condominium conversion are available, subject to town approval. Alternatively, the property could be repurposed as an apartment building for short-term or long-term rentals. This prime Manchester location, combined with its strong income potential and redevelopment possibilities, makes this an outstanding investment for both developers and investors seeking a high-return opportunity in a desirable market. The asking price is $2,197,000.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,160,000
- AI Estimate
- $1,455,000
Market price range: $1.16M - $3.00MMarket price range: $1.46M - $3.68M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $1,915,000 Current use
- RESTAURANT
- $2,570,000 Change: +34% Conversion: Moderate
- APARTMENT HOUSE (5+ UNITS)
- $2,380,000 Change: +24% Conversion: Easy
- AUTO REPAIR, GARAGE
- $1,785,000 Change: -7% Conversion: Difficult
- RETAIL STORES
- $1,655,000 Change: -13% Conversion: Moderate
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Location Insight
- Map
- Local Demand
- City
- Manchester
- County
- Essex
- State
- Massachusetts
- Longitude
- -70.7642
- Latitude
- 42.578
- CBSA code
- 14460
- CBSA name
- BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA
