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Manchester Marketplace 5 Properties in Manchester, NH
Investment Highlights
- A 13.8-acre covered land play in the heart of the most populous city in New Hampshire
- More than 15,000 vehicles pass the site daily
- Roughly $100,000 in rent per month through the summer 2027 gives a buyer substantial cash flow while they solidify their future plans for the property
- First time the property has been brought to market
- Recently passed state zoning law allows for an expansion of viable uses at this site by right
- Ample opportunity for upside through partial or full redevelopment of the property
Executive Summary
Marcus & Millichap is pleased to present the opportunity to acquire the Price Rite Marketplace, a nearly 14-acre parcel in the heart of Manchester, New Hampshire, the most populous city in the state. The property is currently master leased by Stop & Shop, who subleases the center to a diverse mix of local, regional, and national tenants spread across four buildings, with a fifth building, formerly home to a regional bank, available for re-tenanting or redevelopment.
Stop & Shop is expected to decline their options to renew the lease when the current term expires in 2027, when virtually all the current leases also expire, leaving a new owner with a variety of options to either negotiate lease extensions with some or all of the existing tenants, scrap the site and develop something entirely new, or a hybrid approach that would retain some of the current tenancy while redeveloping a portion of the site. With roughly $100,000 in monthly rent from Stop & Shop through the summer of 2027, a buyer has ample opportunity to develop a plan for the parcel while collecting a meaningful income from a credit-rated tenant.
Thanks to a new state law that significantly widens the options for redeveloping existing commercially zoned land by right for residential use and the continued influx of residents from Massachusetts to more tax-friendly New Hampshire, this property represents a phenomenal opportunity for a developer to realize significant upside through a reimagining of the site.
Stop & Shop is expected to decline their options to renew the lease when the current term expires in 2027, when virtually all the current leases also expire, leaving a new owner with a variety of options to either negotiate lease extensions with some or all of the existing tenants, scrap the site and develop something entirely new, or a hybrid approach that would retain some of the current tenancy while redeveloping a portion of the site. With roughly $100,000 in monthly rent from Stop & Shop through the summer of 2027, a buyer has ample opportunity to develop a plan for the parcel while collecting a meaningful income from a credit-rated tenant.
Thanks to a new state law that significantly widens the options for redeveloping existing commercially zoned land by right for residential use and the continued influx of residents from Massachusetts to more tax-friendly New Hampshire, this property represents a phenomenal opportunity for a developer to realize significant upside through a reimagining of the site.
Property Facts
| Sale Conditions | Individually For Sale | 1 | |
| Sale Type | Investment | Total Building Size | 169,988 SF |
| Status | Active | Total Land Area | 13.80 AC |
| Number of Properties | 5 |
| Sale Conditions | |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 5 |
| Individually For Sale | 1 |
| Total Building Size | 169,988 SF |
| Total Land Area | 13.80 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Rent-A-Center
490 Valley St, Manchester, NH 03103 |
Office | 13,162 SF | 2005 | - |
| 365 Lincoln St, Manchester, NH 03103 | Retail | 131,859 SF | 2005 | - |
| 580-586 Valley St, Manchester, NH 03103 | Retail | 14,570 SF | 2005 | - |
| 500-506 Valley St, Manchester, NH 03103 | Retail | 7,320 SF | 2005 | - |
|
Vacant Bank
340 Wilson St, Manchester, NH 03103 |
Retail | 3,077 SF | 2005 | - |
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