For Sale
$1,624,000

283 Willow StManchester, NH 03103

Manchester, NH: NNN Lease, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a fee-simple ownership of a 2,070 square foot Jiffy Lube located at 283 S Willow St, Manchester, NH 03103. The property sits on a 0.46-acre lot and boasts a prime corner location, ensuring high visibility and accessibility from both S Willow St and Alpheus St. Built in 2004, this single-story building is currently 100% occupied under an absolute NNN lease with a franchisee tenant. The lease, recently extended, has a remaining term of 8.9 years, expiring October 31, 2033, and includes 10% rent bumps every five years. The current asking price is $1,624,000, generating a Net Operating Income (NOI) of $105,600 and a 6.50% cap rate. The tenant, a highly reputable operator with over 100 locations, demonstrates strong financial stability and commitment to the location. This investment offers significant advantages, including a long-term lease with built-in rent increases, minimal landlord responsibilities due to the absolute NNN lease structure, and a location within a densely populated area (approximately 101,000 people within a 3-mile radius). The quick lube sector's resilience to economic downturns further enhances the investment's appeal. This property represents a secure and potentially lucrative investment opportunity in a thriving market. Note: Consult with your tax professional regarding potential tax benefits.

Highlights

  • $1,624,000 asking price, 6.50% cap rate.
  • Long-term NNN lease with recent extension, expiring October 31, 2033.
  • Absolute NNN lease; zero landlord responsibilities.
  • Strong tenant: MC, LLC, a major Jiffy Lube operator with 100+ locations.
  • 10% rent increases every five years.
  • Corner lot with high visibility on S Willow St and Alpheus St.

Property Details for 283 Willow St

Property type
Retail properties, Gas stations
Square Feet
2,070 SF
Year Built
2004
Buildings
1
Stories
1
Lot Size (sq. ft)
20,038 SF
Units
1

Location Insight

City
Manchester
County
Hillsborough
State
New Hampshire
Latitude
42.9694915
Longitude
-71.4538184
283 Willow St, Manchester, New Hampshire

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283 Willow St
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