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Listed by Alan M Croteau • Real Property Options
Bought with Alan M Croteau • Real Property Options
Bought with Alan M Croteau • Real Property Options
$ 1,375,000
$ 1,500,000 8.3%
Est. payment | /mo
10,066 SqFt
$ 1,375,000
$ 1,500,000 8.3%
Est. payment | /mo
10,066 SqFt
Key Details
Sold Price $1,375,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 10,066 sqft
Price per Sqft $136
MLS Listing ID 5005799
Sold Date 07/22/25
Year Built 1890
Annual Tax Amount $13,512
Tax Year 2024
Lot Size 0.760 Acres
Acres 0.76
Property 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.
Location
State NH
County Nh-merrimack
Area Nh-Merrimack
Zoning Commercial
Rooms
Basement Entrance Walk-up
Basement Concrete, Concrete Floor, Dirt Floor, Partial, Exterior Stairs, Storage Space, Sump Pump, Unfinished
Interior
Cooling Central AC
Exterior
Utilities Available Cable, Propane, Multi Phone Lines
Roof Type Metal,Architectural Shingle
Building
Sewer Public
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Kris Labrake
REALTOR® | Lic# 070372