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Lincoln Capital Acquires Office Building At 351 Chestnut Street In Manchester, NH For $3.7M
SOLD
$3,687,500
New Hampshire
See Similar DealsOffice38,000 SF
Sold 12/22/2023
SOLD
Lincoln Capital Acquires Office Building At 351 Chestnut Street In Manchester, NH For $3.7M
351 Chestnut Street
See Similar DealsOffice38,000 SF
Sold 12/22/2023
Summary
NEW HAMPSHIRE
Asset Type:Office
Price Per Square Foot:$97
Total Square Footage:38,000 SF
Transaction Type:Sale
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
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$196,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,100.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,480.63
Annual Debt Service$209,767.58
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