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111 Church Street

Laconia, NH 03246
  • $2,700,000
  • STATUS: Active Under Contract
  • MLS #: 4844284
Under Contract
UPDATED: 35 min ago
$2,700,000
  • 0
    BEDS
  • 0.9
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
2020
County:
Area:

School Ratings & Info

Courtesy of Thomas Girard of Right Realty Group, Llc.

Description

This is a unique opportunity for new or established investors and property managers. 111 Church street, was a former medical office building. In 2020 this site was re-purposed as a 16 unit luxury condominium development. 12 units consisting of 4 - 1 Bedroom and 8 - 2 Bedroom units were completed. 16 private on-site garage units were also constructed. An additional 4 units are permitted and approved for construction. The entire interior of this well constructed brick building was demolished and extensive renovations completed. Each of the 12 units include a full appliance package with full size washer/dryers in each unit. Separate utility services for electric and natural gas provide heat and central A/C to each unit at tenants expense. The building is serviced by a new wet sprinkler system and fire protection system. Elevator service to the 2nd floor has been updated as well. The property has received a certificate of condominium registration from the State of NH, condominium documents are in place, leaving the future opportunity to sell individual units. The lack of available housing has resulted in an extremely strong leasing of units since the recent completion. This is an opportunity to build a new, or expand a portfolio of rental homes, that require NO renovations now and will assure years of maintenance free ownership. The opportunity to construct 4 additional units along with the existing condominium approvals provide future expansion options as well.

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© Copyright 2021 New England Real Estate Network, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of NEREN. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 2021-07-29T21:05:43.68.
www.teamtringali.com/homes/113334167
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111 Church Street Laconia, NH 03246

  • Price: $2,700,000
  • Status: Active Under Contract
  • Updated: 35 min ago
  • MLS #: 4844284
0
Beds
0
Baths
0
½ Baths
0.9
Acres
2020
Built
Neighborhood:
Laconia
County:
Belknap
Area:
Laconia
Property Description
This is a unique opportunity for new or established investors and property managers. 111 Church street, was a former medical office building. In 2020 this site was re-purposed as a 16 unit luxury condominium development. 12 units consisting of 4 - 1 Bedroom and 8 - 2 Bedroom units were completed. 16 private on-site garage units were also constructed. An additional 4 units are permitted and approved for construction. The entire interior of this well constructed brick building was demolished and extensive renovations completed. Each of the 12 units include a full appliance package with full size washer/dryers in each unit. Separate utility services for electric and natural gas provide heat and central A/C to each unit at tenants expense. The building is serviced by a new wet sprinkler system and fire protection system. Elevator service to the 2nd floor has been updated as well. The property has received a certificate of condominium registration from the State of NH, condominium documents are in place, leaving the future opportunity to sell individual units. The lack of available housing has resulted in an extremely strong leasing of units since the recent completion. This is an opportunity to build a new, or expand a portfolio of rental homes, that require NO renovations now and will assure years of maintenance free ownership. The opportunity to construct 4 additional units along with the existing condominium approvals provide future expansion options as well.
Exterior Features

Construction Masonry Exterior Brick Parking AssignedDrivewayGaragePaved Road Frontage Tbd Roof Shingle - Asphalt

Interior Features

Air Conditioning Percentage 100 Basement No Foundation Concrete Sq Ft Total Building 13440

Property Features

Gross Income 230400 Investment Info Unknown Natural Gas Available Yes Net Income 190603 Pre Construction No Project Building Name 111 Church Street Condominiums Sale Includes BuildingGarageOther Sewer Public Sprinkler Wet Sub Property Type Multi-Family Tax Gross Amount 11177 Tax Year 2020 Taxes Tbd Yes Utilities CableGas - UndergroundInternet - CableUnderground Utilities Water Public Zoning Commercial

Courtesy of Thomas Girard of Right Realty Group, Llc.


© Copyright 2021 New England Real Estate Network, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of NEREN. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 2021-07-29T21:05:43.68.
 
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Team Tringali | Keller Williams Metropolitan
50 Nashua Rd, Suite 111
Londonderry NH, 03053
Courtesy of Thomas Girard of Right Realty Group, Llc.