MLS Number 4730848
- Year Built 1900
- Acreage 0.56
- NOI 154484
$154,484 NOI, 8.13% CAP, 5-Year Hold Indicates an All-Cash Unleveraged IRR of 10% and a Leveraged IRR of 20% Known as "The Moody Building", this historic landmark building has been the anchor for retail and office space at the Opera House Square, Downtown Claremont, NH for decades. Overlooking the Sugar River, a tributary from the Connecticut River, this was originally built as a hotel in 1900 and still has a lot of the original architecture and charm. Many prominent dignitaries stayed at this building when it was a hotel, most famously, President John F Kennedy. This property has been extremely well maintained, no expenses spared on Capital Improvements including a 3 yr old, rubber-membrane, insulated roof, entire building sprinkler system, updated efficient heating systems, electrical systems and more. This property is virtually maintenance free, and the on-site manager has been with the property since 1972. There is a waiting list for the 1st floor retail. Street Retail NNN leases, Modified Gross Office leases. The City of Claremont has been and continues to invest Hundreds of Thousands of dollars in a current City wide revitalization program.
Listed by David Gambaccini of SVN / Real Estate Solutions