New London NH For Sale $1,500,000

List Price:$Commercial Property
Price Change! reduced by $300,000
down 20% on November 18th 2024
$1,500,000 | $123 per sq.ft.
207/209 Main Street New London NH | Space type Food Service,Office Building,Retail Strip,Storefront
MLS# 5005799
Listed by Alan Croteau Real Property Options on July 19th 2024
DESCRIPTION
Welcome to quaint New London - home of Colby Sawyer College. This prime investment property, the Chowanski Plaza, has a prominent eatery with Tucker's Restaurant already leasing one of seven commercial spaces along with many other successful businesses. With plenty of vehicle and foot traffic, any business wanting exposure to enhance their profitability will surely gain success here. The main building has seven free standing spaces. A second detached building offers a mixture of either retail, service and office accommodations. With recent renovations, and being well maintained, it is undoubtedly a distinguished commercial location. The property contains 39 on-site parking spaces and has 4 curbside ones out front. Within walking distance to Colby Sawyer College, New London Barn Playhouse, and many other attractions, Chowanski Plaza has so many opportunities to afford a future owner. As of 01 April 2025, the entire property will be 100% occupied; with a 7.82% cap rate at the offered price!! This may fit well for a 1031 exchange buyer. SELLER IS OFFERING CONSIDERABLE CONCESSIONS FOR A CLOSING NO LATER THAN 31 MAY 2025! SELLERS' CONCESSIONS AT CLOSING AND MANAGEMENT FEES PREPAID FOR THE FIRST YEAR OF OWNERSHIP.
Disability Features : Access Parking | Hard Surface Flooring | Paved Parking

Sale Includes : Land/Building
Management Expense-| $0
Insurance Expense -| $0
Net Income| 0
Gross Income| 0
Price per SQFT | 122.69
CONSTRUCTION
Post and Beam | Wood Frame | Clapboard Exterior | Stone Exterior | Wood Exterior
Price Per SQ.FT. 122.69
Year Built: 1890
No. of Units-| 7
Basement: Concrete | Concrete Floor | Dirt Floor | Partial | Stairs - Exterior | Storage Space | Sump Pump | Unfinished
Building Type: Business | Hospitality | Investment | Office | Opportunity | Retail
Roof: Metal | Shingle - Architectural
Garage And Parking: Off Street | On-Site | On Street | Parking Spaces 21+ | Paved | Unassigned
Road Frontage: 136
Electric: 200 Amp | 220 Volt | Circuit Breaker(s)
Utilities: Cable | Gas - LP/Bottle | Multi Phone Lines
No. of Docks | 0.
AC % | 100.
LAND INFORMATION
Lot size: 0.76 acres
Zoned: Commercial)
Flood Zone: Unknown
Road Frontage: 136
ADDITIONAL INFORMATION
Docs Available : Deed | Lease Agreements | Property Disclosure | Tax Map
Taxes $13,513 | Assesed Value $0 in 2023

loading