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351 Chestnut Street

Lincoln Capital Acquires Office Building At 351 Chestnut Street In Manchester, NH For $3.7M
SOLDOffice

Lincoln Capital Acquires Office Building At 351 Chestnut Street In Manchester, NH For $3.7M

351 Chestnut Street

$3,687,500

$97/SF

Building Size

38,000 SF

Asset Type

Office

Closing

Dec 22, 2023

AI

The sale of a multi-tenant building at 351 Chestnut Street in Manchester, NH was recently facilitated by Stebbins Commercial Properties' President, Mike Reed. The property, comprising 38,000 square feet, was sold for $3,687,500. The transaction was completed between 351 Chestnut Street LLC in Candia, NH and Lincoln Capital, based in Santa Monica, CA.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $3,687,500
  • Address: 351 Chestnut Street, Manchester, NH
  • Square Footage: 38,000
  • Price Per Square Foot: $97
  • Market: Manchester, NH

Michael Reed of Stebbins Commercial Properties LLC represented the buyer, Lincoln Capital, in this transaction.

Note: None.

Players

Michael Reed

Stebbins Commercial Properties

Broker

$11.2M

vol

6 deals

Broker

Manchester Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.30%

Cash-on-Cash

-1.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93