562 Clay StManchester, NH 03103

Property Details for 562 Clay St

Year built

1919

Construction

FRAME

Lot size

0.11 AC

Property size (Sq ft)

8,832 SF

Property type

Showrooms

APN

MNCH M:0264 B:000 L:0012

APU

MNCHM0264B000L0012

Description

This exceptional redevelopment opportunity presents a vacant, 8,832 square foot, two-story building situated on a 5,227 square foot lot in Manchester, NH. Zoning approval is in place for a three-story, 14-unit residential building (7 one-bedroom, 5 two-bedroom, and 2 three-bedroom units) totaling 12,807 square feet. Phase 1 is complete, and comprehensive construction drawings are available. The property, located at 562 Clay Street, features off-street parking, bike storage, and a laundry room. The existing building, built in 1919, is currently vacant, offering immediate potential for development. The asking price is $950,000, or $67,877 per unit, and the lot consists of two adjacent parcels. The property is zoned R3 and has an APN of 264-12. This prime location in Manchester, New Hampshire's Somerville neighborhood, offers significant upside potential for investors seeking a multifamily development project with approved plans and a clear path to permit acquisition. The property is individually owned.

• CAP approach

  CAP return

  Valuation

  6%

  $1,670,730

  6.5%

  $1,542,210

  7%

  $1,432,060

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,200,150

  Geo Method

  $1,200,150

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,007,470

  Mixed-Use / Specialty

  $1,536,720

  Hospitality / Lodging

  $1,127,440

  Office

  $1,527,590

  Institutional / Educational

  $1,597,570

  Residential Income

  $1,869,150

  Multifamily

  $2,241,760

  Automotive / Energy

  $1,369,340

  Parking / Income-Based Land

  $472,543

  Restaurant / Food Service

  $799,258

  Healthcare / Senior Housing

  $1,575,870

Location Insight

City

Manchester

County

Hillsborough

State

New Hampshire

Latitude

42.976

Longitude

-71.4489

CBSA code

31700

CBSA name

MANCHESTER-NASHUA, NH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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